Date Released: July 5, 2001
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
JUNE AND MAY 2001
| Inflation Rates, Philippines, All Items | |||
| June | May | Year-to-date | |
| Year-on-year | 6.7 | 6.5 | 6.7 |
| NCR | 8.2 | 7.2 | 7.8 |
| AONCR | 6.2 | 6.3 | 6.3 |
| Month-on-month | 1.0 | 0.1 | |
| NCR | 1.0 | 0.1 | |
| AONCR | 0.9 | 0.2 | |
CONSUMER PRICE INDEX
(1994=100)
JUNE 2001
lBy Region, Year-on-Year
®Inflation rate for the National Capital Region (NCR) climbed to 8.2 percent in June from 7.2 percent in May.
®Inflation in Areas Outside National Capital Region (AONCR) slid to 6.2 percent in June from 6.3 percent in May. Seven regions recorded lower inflation rates. The biggest decrease was in ARMM at 1.0 percentage point followed by CAR at 0.5 percentage point. The lowest rate was posted in Central Mindanao at 3.5 percent while the highest rate was in Central Visayas at 8.2 percent.
lBy Commodity Group, Year-on-Year
èThe inflation rate for FBT went up to 4.9 percent in June from 3.8 percent in May; clothing, 4.0 percent from 3.9 percent; H&R, 6.8 percent from 6.7 percent; and FLW, 13.2 percent from 12.2 percent. Meanwhile, the rates for services and miscellaneous items decelerated to 12.7 percent and 4.3 percent, respectively from their corresponding rates of 14.1 percent and 7.5 percent in May.
- The inflation rate for food alone rose to 4.8 percent in June from 3.6 percent in May. Except for rice whose rate slightly slowed down to 1.1 percent in June from 1.2 percent in May, all other food groups registered higher rates. Price increases of corn moved up to 1.7 percent from 1.6 percent; cereal preparations, 5.8 percent from 5.6 percent; dairy products, 13.0 percent from 9.9 percent; eggs, 3.7 percent from 1.8 percent; fish, 6.2 percent from 3.6 percent; fruits and vegetables, 6.0 percent from 2.4 percent; meat, 7.5 percent from 6.5 percent; and miscellaneous foods, 4.3 percent from 3.9 percent.
èIn NCR, the inflation rate for FBT was up by 2.8 percentage points; H&R, 0.1 percentage point; and FLW. 3.1 percentage points. On the other hand, the rate for clothing declined by 0.2 percentage point; services, 1.2 percentage points; and miscellaneous items, 3.7 percentage points.
>The inflation rate for food alone in NCR climbed to 6.2 percent in June from 3.4 percent in May. Except for miscellaneous food items whose rate remained at 5.4 percent, all the other food groups posted higher rates. Prices of rice moved up to 0.4 percent from 0.3 percent; corn, 12.0 percent from 7.1 percent; cereal preparations, 10.4 percent from 9.8 percent; dairy products, 14.7 percent from 11.8 percent; eggs, 11.4 percent from 5.5 percent; fish, 5.4 percent from –3.8 percent; fruits and vegetables, 4.2 percent from –2.4 percent; and meat, 9.2 percent from 8.1 percent.
®For AONCR, the inflation rates of services and miscellaneous items correspondingly slid to 12.1 percent and 4.0 percent from their respective rates of 13.7 percent and 7.0 percent in May. However, the rate of FBT increased to 4.5 percent from 3.9 percent; clothing, 3.6 percent from 3.4 percent; and H&R, 7.5 percent from 7.3 percent. The inflation rate of FLW remained at its May rate of 10.7 percent.
- The inflation rate for food alone picked up to 4.4 percent in June from 3.7 percent in May.
- Higher rates were seen in the prices of corn, 1.5 percent in June from 1.4 percent in May; dairy products, 12.3 percent from 9.1 percent; eggs, 1.4 percent from 0.7 percent; fish, 6.4 percent from 5.5 percent; fruits and vegetables, 6.7 percent from 4.3 percent; meat, 6.7 percent from 5.7 percent; and miscellaneous foods, 3.8 percent from 3.3 percent. Cereal preparations retained its May rate of 4.1 percent.
- The price of rice moved up by 1.2 percent in June which was slightly slower than its May rate of 1.3 percent. Eleven regions posted lower rates. The biggest decrease was in Western Mindanao at 2.4 percentage points followed by Eastern Visayas at 1.4 percentage points. Moreover, six regions recorded negative rates.
lBy Region, Month-on-Month
®The month-on month inflation rate in NCR rose to 1.0 percent in June from 0.1 percent in May brought about by the price increases in items in FLW and services. The rate of FLW significantly went up to 3.9 percent from a decline of 4.7 percent and services, 2.8 percent from 0.3 percent. Lower rates were however noted in FBT, 0.3 percent from 0.8 percent and clothing, 0.1 percent from 0.9 percent. Meanwhile, the rates for H&R and miscellaneous items remained at 0.2 percent.
®Similarly, month-on-month inflation rate in AONCR increased to 0.9 percent this month from 0.2 percent in May. This was mainly due to the significant upward movement of FBT and services. The rate of FBT picked up to 0.9 percent from 0.2 percent and services, 2.6 percent from 0.3 percent. Other commodity groups also contributed to the increase. Clothing moved up to 0.3 percent from 0.1 percent; H&R, 0.5 percent from 0.2 percent; FLW, 0.4 percent from –0.1 percent; and miscellaneous items, 0.3 percent from 0.2 percent. Except for ARMM, all other regions recorded higher rates. The highest rate was in Western Visayas at 1.6 percent while the lowest rate was in ARMM at 0.2 percent.
lBy Commodity Group, Month-on-Month
ÞThe increase of 0.7 percent in the prices of FBT and 2.5 percent for services significantly pushed up the inflation rate in June to 1.0 percent from 0.1 percent in May. The rate for H&R grew by 0.4 percent from 0.2 percent; FLW, 1.6 percent from –1.6 percent; and miscellaneous items, 0.3 percent from 0.2 percent. On the hand, the rate for clothing dropped to 0.2 percent from 0.3 percent.
ÞHigher price quotations for fish were noted during the month. This was due to the unfavorable weather conditions brought about by the two typhoons (Darna and Emong) that hit the country limiting the supply of fish in the markets. The fish index rose by 1.3 percent in the Philippines; 2.8 percent, NCR; and 0.8 percent, AONCR.
ÞIncreases in the prices of fresh, processed and canned meat like hotdog, sausage, luncheon meat and corned beef raised the meat index by 1.0 percent in the Philippines and AONCR and 1.3 percent in NCR. This was brought about by the inability of local supply of meat to meet the demand as importation especially of beef from selected countries was banned due to the mad cow and foot and mouth diseases scare.
Þ Higher prices of milk, cheese and ice cream during the month caused the index for dairy products to increase significantly by 2.9 percent in the Philippines and AONCR and 2.6 percent in NCR. This was effected by the continued higher importation price of raw materials for milk and milk products.
ÞPrices of sugar, powdered tonic drink, mayonnaise, margarine and some spices and seasonings like garlic, ginger, catsup, patis, salt and vinegar were higher during the month. The miscellaneous foods index recorded a 0.4 percent growth in the Philippines, 0.2 percent in NCR and 0.5 percent in AONCR.
ÞSufficient supply of rice brought prices to decline by 0.2 percent in NCR. However, the price of rice went up by 0.3 percent in AONCR with ten regions posting higher month-on-month rates. All these added to a 0.3 percent increment in the price of rice in the Philippines.
ÞBigger volumes of vegetables unloaded at the different markets in NCR coming from Baguio City resulted to a significant drop of 4.5 percent in the fruits and vegetables index in the area. CAR, a vegetable producing region, also recorded a 1.2 percent decrease in the group’s index. On the other hand, the index went up by 2.3 percent in AONCR after a 0.8 percent drop last month. Thus, the group’s index for the Philippines slipped by 0.5 percent from 0.9 percent.
®Increases in tuition fees, higher prices of newpapers, magazines and some school supplies like crayons, pad papers, bond papers and books were noted along with the price increments of gasoline, diesel, engine oil, lubricating oil, some medical goods such as absorbent cotton and rubbing alcohol. Higher charges for hospital, dental and haircut services and increases in the wage of domestic helpers were also recorded. These gave significant leaps in the services index at 2.6 percent in the Philippines, 2.8 percent in NCR and 2.6 percent for AONCR.
®Higher prices of LPG, kerosene, charcoal, firewood and add-ons in electricity and water rates in many regions as well as higher purchased power adjustment (PPA) for electricity in NCR significantly moved up the FLW index by 1.6 percent in the Philippines and 3.9 percent in NCR.
®Selected construction materials like common wire nails, cement, gravel, plywood, lumber and hollow blocks were sold higher during the month. In addition, rental rates increased in many regions including NCR. Thus, the H&R index accelerated by 0.5 percent in AONCR; 0.2 percent in NCR and 0.4 percent in the Philippines.
ÕResults of the following provinces were not received:
- Sulu – 1st and 2nd phase survey reports
- Lanao del Sur – 2nd phase survey report
Source: National Statistics Office
Manila, Philippines
Page Last Updated: July 5, 2001