Date Released:May 5, 2006
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
APRIL 2006 AND MARCH 2006
Year-on-Year Inflation Rates, All Items |
|||
| April | March | Year-to-date | |
| Philippines | |||
| Headline | 7.1 | 7.6 | 7.2 |
| Core | 6.3 | 6.5 | 6.2 |
| NCR | |||
| Headline | 8.0 | 8.7 | 8.1 |
| AONCR | |||
| Headline | 6.8 | 7.2 | 7.0 |
The national year-on-year headline inflation rate slowed down to 7.1 percent in April from 7.6 percent in March as the annual inflation rates in all the commodity groups decelerated. Inflation a year ago was 8.5 percent.
Excluding selected food and energy items, core inflation slowed to 6.3 percent in April from 6.5 percent in March.
Likewise, inflation rate in the National Capital Region (NCR) eased by 0.7 percentage point to 8.0 percent in April from 8.7 percent in March due to the slower annual upward adjustments seen in all the commodity groups except for clothing.
Inflation rate in Areas Outside the National Capital Region (AONCR) was lower at 6.8 percent in April from 7.2 percent in March. Downward movements in the inflation rates were posted in all the commodity groups except for clothing and miscellaneous items.
Month-on-Month Inflation Rates, All Items |
||
| April | March | |
| Philippines | 0.1 | 0.4 |
| NCR | 0.1 | 0.2 |
| AONCR | 0.1 | 0.4 |
The overall month-on-month inflation was pegged at 0.1 percent in April from 0.4 percent in March due to the aggregate decrease of 5.9 percent in the price of LPG. Slower price hikes in selected construction materials also contributed to the downtrend.
CONSUMER PRICE
INDEX
(2000=100)
APRIL 2006
l By Region, Year-on-Year
The annual inflation rate in NCR slowed down by 0.7 percentage point to 8.0 percent in April from 8.7 percent in March.
Inflation rate in AONCR at 6.8 percent in April was slower than the 7.2 percent in March as all the regions except for Bicol posted lower inflation rates. The biggest decrease was in Zamboanga Peninsula at 1.4 percentage points (6.7% to 8.1%). The lowest rate was recorded in Western Visayas at 5.0 percent while the highest was still in ARMM at 9.7 percent.
l By Commodity Group, Year-on-Year
Inflation rate for food, beverages and tobacco (FBT) at the national level slowed down to 6.1 percent in April from 6.4 percent in March; clothing, 3.1 percent from 3.2 percent; housing and repairs (H&R), 4.2 percent from 4.5 percent; fuel, light and water (FLW), 15.9 percent from 18.5 percent; services, 10.6 percent from 11.2 percent; and miscellaneous items, 3.3 percent from 3.4 percent.
The inflation rate for food alone in the Philippines improved by 0.4 percentage point to 6.1 percent in April from 6.5 percent in March.
Slower rates were posted in the prices of rice, 5.6 percent in April from 7.1 percent in March; cereal preparations, 6.5 percent from 6.7 percent; dairy products, 6.0 percent from 6.3 percent; eggs, 5.9 percent from 6.0 percent; fish, 4.5 percent from 4.6 percent; meat, 2.4 percent from 2.8 percent; and miscellaneous foods, 8.9 percent from 9.0 percent. On the other hand, inflation for corn was higher at 3.5 percent from 3.0 percent while that for fruits and vegetables remained at 9.3 percent.
In NCR, inflation for all the commodity groups decelerated except for clothing whose inflation moved at its March rate of 2.4 percent. Inflation for FBT eased to 5.6 percent in April from 5.7 percent in March; H&R, 5.4 percent from 6.1 percent; FLW, 16.7 percent from 20.3 percent; services, 12.9 percent from 13.6 percent; and miscellaneous items, 3.1 percent from 3.4 percent.
Inflation for food alone in NCR was slower at 5.7 percent in April from 5.8 percent in March.
Lower annual price increase was posted in rice at 0.5 percent in April from 4.4 percent in March; corn, 2.2 percent from 3.5 percent; dairy products, 6.8 percent from 6.9 percent; and meat, 2.0 percent from 2.6 percent. Meanwhile, higher annual price hikes were noticed in cereal preparations, 7.7 percent from 7.5 percent; eggs, 9.6 percent from 7.5 percent; fish, 1.2 percent from -1.3 percent; and fruits and vegetables, 8.5 percent from 8.2 percent. Annual price movement of miscellaneous foods remained at 10.0 percent.
In AONCR, the inflation rate for FBT slackened to 6.2 percent in April from 6.6 percent in March; H&R, 3.2 percent from 3.4 percent; FLW, 15.5 percent from 17.6 percent; and services, 9.4 percent from 9.8 percent. On the contrary, annual inflation for clothing and miscellaneous items correspondingly maintained their last month’s rates of 3.5 percent and 3.4 percent.
Inflation for food alone in AONCR at 6.2 percent in April was slower compared to 6.7 percent posted in March.
Annual price adjustment in rice moved down to 6.3 percent in April from 7.5 percent in March as the inflation recorded in all the regions except for Central Luzon slowed down. The biggest decrease of 4.0 percentage points (5.0% from 9.0%) was noted in Western Visayas.
The annual price movements of cereal preparations decelerated to 6.2 percent in April from 6.5 percent in March; dairy products and fish, 5.7 percent and 5.3 percent from 6.0 percent; eggs, 4.8 percent from 5.4 percent; fruits and vegetables, 9.5 percent from 9.7 percent; meat, 2.6 percent from 2.9 percent; and miscellaneous foods, 8.4 percent from 8.7 percent. Annual price hike was however higher in corn at 3.5 percent from 3.0 percent.
l By Region, Month-on-Month
Price movements in NCR were registered at 0.1 percent in April, slower than the 0.2 percent growth in March. This was mainly due to the -0.5 percent decline in the prices of FLW items from 0.7 percent increase last month. Moreover, upward adjustments in the prices of clothing and H&R items correspondingly decelerated to 0.2 percent and 0.1 percent from 0.6 percent and miscellaneous items, 0.1 percent from 0.5 percent. However, increases in the prices of FBT items was higher at 0.2 percent from -0.3 percent while price additions in services items were still at 0.4 percent.
Similarly, the 1.1 percent drop in the prices of FLW items from 0.2 percent primarily brought down the month-on-month inflation in AONCR to 0.1 percent in April from 0.4 percent in March. In addition, movements in the prices of FBT and H&R items were respectively slower at 0.2 percent and 0.1 percent from their corresponding last month’s rates of 0.3 percent and 1.1 percent. On the other hand, prices of clothing and services items grew by 0.3 percent from 0.2 percent while prices of miscellaneous items went up by 0.3 percent. The lowest month-on-month inflation at -0.5 percent was observed in Zamboanga Peninsula while the highest rate was in Davao at 0.4 percent.
l By Commodity Group, Month-on-Month
A -0.9 percent decline in the prices of FLW items from a 0.4 percent growth primarily pushed down the month-on-month inflation in the Philippines by 0.1 percent in April from 0.4 percent in March. Moreover, price gains in H&R items improved to 0.1 percent from 0.8 percent. Prices of FBT and clothing items were still higher by 0.2 percent and services and miscellaneous items, 0.3 percent.
Despite the extreme heat experienced during the month, the sufficient supply of vegetables continued to come in from the production points in AONCR. Price discounts were thus noted in the prices of vegetables in the markets. Moreover, the continuous deliveries of fruits in season during the month brought down their prices. Thus, the group’s index in the Philippines and AONCR continued to record negative price movements of -0.7 percent and -1.1 percent in April from their respective March rates of -1.1 percent and -0.6 percent. On the contrary, the supply of vegetables in NCR markets was not sufficient to meet the demand of consumers during the summer break. Hence, the group’s index in the area grew to 0.2 percent from -2.7 percent.
Similarly, the sufficient supply of fish particularly fresh fish species and sea foods in selected regions brought about by the prevalence of favorable weather conditions pulled down the indices of fish in the Philippines and AONCR by -0.2 percent. Meanwhile, prices of fish in NCR were up by 0.3 percent.
The good production of eggs during the month resulted to its enough supply in the markets. The index for eggs in the Philippines and NCR dropped by -0.2 percent and -0.7 percent. Meanwhile, prices of eggs in AONCR remained stable as the group’s index recorded a zero growth during the month.
The price of rice further moved upward in the Philippines and AONCR at their respective rates of 0.5 percent and 0.6 percent from 0.2 percent in the previous month. Similarly, price quotations of rice were also higher in NCR at 0.1 percent from zero growth.
Increased prices of selected spices and seasonings, powdered tonic drink, tea, coffee, and cocoa pushed up the miscellaneous foods index in the Philippines and AONCR by 0.2 percent and in NCR, 0.1 percent.
The price of corn went up in the Philippines by 1.7 percent and in AONCR, 1.6 percent. These were however slower than their corresponding last months’ rates of 1.9 percent and 2.0 percent. In NCR, prices of corn generally remained stable as its index still posted a zero growth during the month.
Higher prices of flour and flour products (bread, biscuits and noodles) raised the index of cereal preparations in the Philippines and AONCR by 0.4 percent and in NCR, by 0.6 percent.
Price additions in milk and milk products resulted to increments in the dairy products index in AONCR and at the national level, 0.3 percent and in NCR, 0.5 percent.
Reduction in the price of LPG nationwide primarily pulled down the FLW index in three areas: Philippines, -0.9 percent in April from 0.4 percent in March; NCR, -0.5 percent from 0.7 percent; and AONCR, -1.1 percent from 0.2 percent.
Price hikes in petroleum products (gasoline, diesel, engine oil and lubricating oil) observed in many regions including NCR pushed the services index in the Philippines and AONCR by 0.3 percent and NCR, 0.4 percent. Higher prices of medicines and increased charges for selected medical and personal services in some regions also contributed to the uptick.
Increments in the prices of selected construction materials mainly caused the H&R index in the three areas to grow by 0.1 percent.
With the upward adjustments in the prices of selected items for personal care and effects and household operations, the index for miscellaneous items inched up by 0.3 percent in the Philippines and AONCR and 0.1 percent in NCR.
NOTE: CPIs and inflation rates by province and selected city are also available upon request at NSO, Industry and Trade Statistics Department, Economic Indices and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47, email address: r.staana@census.gov.ph).
| (Sgd.) CARMELITA
N. ERICTA Administrator |
Source: National Statistics Office
Manila,
Philippines
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