Date Released: August 6, 2001
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
JULY AND JUNE 2001
| Inflation Rates, Philippines, All Items | |||
| July | June | Year-to-date | |
| Year-on-year | 6.8 | 6.7 | 6.8 |
| NCR | 8.3 | 8.2 | 7.8 |
| AONCR | 6.3 | 6.3r | 6.3 |
| Month-on-month | 0.6 | 1.0 | |
| NCR | 0.8 | 1.0 | |
| AONCR | 0.4 | 1.0r | |
CONSUMER PRICE INDEX
(1994=100)
JULY 2001
lBy Region, Year-on-Year
®Inflation rate for the National Capital Region (NCR) slightly increased to 8.3 percent in July from 8.2 percent in June.
®Inflation in Areas Outside National Capital Region (AONCR) moved at its June rate of 6.3 percent. Eight regions posted higher inflation rates. The biggest increase was in Eastern Visayas at 0.8 percentage point followed by Southern Mindanao at 0.7 percentage point. The highest rate was registered in ARMM at 8.1 percent while the lowest rate was still observed in Central Mindanao at 3.7 percent.
lBy Commodity Group, Year-on-Year
èThe inflation rate for FBT went up to 5.2 percent in July from 4.9 percent in June; clothing, 4.1 percent from 4.0 percent; and H&R, 7.2 percent from 6.8 percent. On the other hand, the rates for FLW and services slid to 12.9 percent and 12.1 percent, respectively from their corresponding June rates of 13.2 percent and 12.8 percent. The index of miscellaneous items moved at its June rate of 4.3 percent.
- The inflation rate for food alone moved up to 5.0 percent in July from 4.8 percent in June. The price of cereal preparations rose to 5.9 percent in July from 5.8 percent in June; dairy products, 13.9 percent from 13.0 percent; eggs, 7.0 percent from 3.7 percent; fish, 7.0 percent from 6.2 percent; and miscellaneous foods, 5.0 percent from 4.3 percent. Slower rates were however seen in the prices of rice, 0.7 percent from 1.1 percent; corn, 1.6 percent from 1.7 percent; fruits and vegetables, 5.4 percent from 6.0 percent; and meat, 7.1 percent from 7.5 percent.
èIn NCR, the inflation rate for FBT went up by 0.3 percentage point; clothing and FLW, 0.1 percentage point; and H&R, 1.1 percentage points. Meanwhile, the rate for services decreased by 1.9 percentage points and miscellaneous items, 0.2 percentage point.
>The inflation rate for food alone in NCR went up to 6.5 percent in July from 6.2 percent in June. Faster rates were seen in the prices of corn, 12.9 percent from 12.0 percent; cereal preparations, 10.8 percent from 10.4 percent; dairy products, 15.7 percent from 14.7 percent; eggs, 20.6 percent from 11.4 percent; fish, 6.9 percent from 5.4 percent; and miscellaneous foods, 7.6 percent from 5.4 percent. Slower rates were recorded in the prices of rice, 0.3 percent from 0.4 percent; fruits and vegetables, -0.2 percent from 4.2 percent; and meat, 8.6 percent from 9.2 percent.
®For AONCR, except for FBT whose rate moved up to 4.7 percent in July from 4.5 percent in June, all other commodity groups registered either slower rates or maintained their June rates. The rate of H&R decreased to 7.4 percent from 7.5 percent; FLW, 10.2 percent from 10.7 percent; and services, 12.1 percent from 12.2 percent. Meanwhile, clothing and miscellaneous items stayed at their respective June rates of 3.6 percent and 4.0 percent.
- The inflation rate for food alone increased to 4.6 percent in July from 4.4 percent in June.
- Higher rates were posted in the prices of dairy products, 13.2 percent from 12.3 percent; eggs, 2.9 percent from 1.4 percent; fish, 7.1 percent from 6.4 percent; fruits and vegetables, 7.3 percent from 6.7 percent; and miscellaneous foods, 3.9 percent from 3.8 percent. On the other hand, the price of corn decelerated to 1.4 percent from 1.5 percent while cereal preparations retained its June rate of 4.1 percent.
- The price of rice slowed down to 0.8 percent in July from 1.2 percent in June. Except for Eastern Visayas, Southern Mindanao and ARMM whose prices moved at faster rates, all other regions posted lower rates. The biggest decrease was in Bicol by 2.3 percentage points, followed by Central Mindanao by 2.1 percentage points. Moreover, six regions recorded negative rates.
lBy Region, Month-on-Month
®The month-on month inflation rate in NCR slid to 0.8 percent in July from 1.0 percent in June. Slower rates were seen in the prices of FLW, 1.6 percent from 3.9 percent and services, 0.4 percent from 2.8 percent. Higher rates were however noted in the prices of FBT, 0.9 percent from 0.3 percent; clothing, 0.4 percent from 0.1 percent; and H&R, 1.0 percent from 0.2 percent. The prices of miscellaneous items on the other hand remained stable as it posted a zero growth this month from 0.2 percent a month earlier.
®Likewise, prices in AONCR declined to 0.4 percent in July from 1.0 percent in June as prices of all the commodity groups moved at slower rates except FLW which picked up to 0.5 percent from 0.4 percent. The rate of FBT decelerated to 0.6 percent from 0.9 percent; clothing, 0.1 percent from 0.3 percent; H&R, 0.3 percent from 0.5 percent; services, 0.4 percent from 2.7 percent; and miscellaneous items, 0.2 percent from 0.3 percent. The lowest rate was in Central Luzon and Central Visayas at 0.1 percent while the highest rate was in Eastern Visayas at 1.2 percent.
lBy Commodity Group, Month-on-Month
ÞSlower rates registered in FLW, services and miscellaneous items pushed down the inflation rate in July to 0.6 percent from 1.0 percent in June. The rate for FLW dropped to 0.9 percent in July from 1.6 percent in June; services, 0.4 percent from 2.7 percent; and miscellaneous items, 0.1 percent from 0.3 percent. On the contrary, the H&R index rose to 0.6 percent from 0.4 percent while FBT and clothing stayed at their respective June rates of 0.7 percent and 0.2 percent.
ÞIn many regions, the effect of typhoon Isang resulted to price hikes in brackish fish species. Likewise, the supply of marine fishes was low because of cooler temperatures. These resulted to a 1.3 percent growth in the group’s index from 0.8 percent last month. However, supply of fresh fish in NCR and Ilocos region were abundant when fishponds overflowed due to floods bringing fish prices to decline in these areas. The fish index in NCR and Ilocos region respectively dropped by 0.2 percent and 0.8 percent in July. Overall, the group’s index in went up by 1.0 percent, slower than its June rate of 1.3 percent.
ÞAs demand stabilized, lower prices of chicken and pork were observed. The meat index decreased by 0.2 percent in the Philippines, 0.5 percent in NCR and 0.1 percent in AONCR.
ÞThe continued higher importation price of raw materials for milk and milk products still caused prices of milk, cheese and ice cream to be sold at higher prices during the month. Thus, the index for dairy products rose by 0.9 percent in the three areas, slower than the 2.9 percent increase posted last month for the Philippines and AONCR and 2.6 percent for NCR.
ÞHigher prices of powdered tonic drink, coffee, margarine, sugar and some spices and seasonings like salt, catsup, patis, garlic and soy sauce pushed up the index for miscellaneous foods by 1.0 percent in the Philippines, 2.0 percent in NCR and 0.5 percent in AONCR. In addition, increases in the prices of some meals eaten outside the home also contributed to the uptrend.
ÞThe closure of all exit points from Baguio City and the floods in some Northern Luzon provinces caused insufficient supply of vegetables in NCR. This raised the fruits and vegetables index in the Philippines and NCR by 1.0 percent and 1.3 percent, respectively. In AONCR, the group’s index also went up but at a slower rate of 0.8 percent as supply of vegetables in Central Visayas and most of the Mindanao regions were abundant.
ÞSufficient supply of rice brought prices to decline by 0.1 percent in NCR. However, the price of rice increased by 0.6 percent in AONCR with eight regions posting higher month-on-month rates. All these added to a 0.5 percent increment in the price of rice in the Philippines.
®The H&R index rose to 0.6 percent in the Philippines, 1.0 percent in NCR and 0.3 percent in AONCR as prices of selected construction materials like cement, hollow blocks, common wire nails, lumber and plywood went up along with higher rental rates in many regions including NCR. Higher rates were also seen in the daily wages of carpenter and electrician in some provinces.
®Price hikes in gasoline, diesel, engine oil and lubricating oil were posted during the month. Medicines and some school supplies like pad papers, bond papers, notebooks, magazines and newspapers and charges for personal services were also priced higher. The services index grew by 0.4 percent in the three areas. This was however slower than their June rates of 2.7 percent in the Philippines and AONCR and 2.8 percent in NCR.
®The FLW index increased to 0.9 percent in the Philippines and 1.6 percent in NCR. These rates were lower than their corresponding last month’s rates of 1.6 percent and 3.9 percent. In AONCR, the index moved up at a faster rate of 0.5 percent in July from 0.4 percent a month ago. This was due to the price increments in charcoal, kerosene, LPG and firewood. Higher charges for water and electricity consumptions in many regions along with higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity in NCR were also noted.
ÕResults of the 2nd phase surveys for the following provinces were not received:
- Tawi-tawi
- Lanao del Sur
Source: National Statistics Office
Manila, Philippines
Page Last Updated: August 6, 2001