Date Released: July 5, 2006
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
JUNE 2006 AND MAY 2006
Year-on-Year Inflation Rates, All Items |
|||
| June | May | Year-to-date | |
| Philippines | |||
| Headline | 6.7 | 6.9 | 7.1 |
| Core | 5.8 | 6.1 | 6.2 |
| NCR | |||
| Headline | 7.4 | 7.9 | 8.0 |
| AONCR | |||
| Headline | 6.4 | 6.4 | 6.7 |
The year-on-year headline inflation rate at the national level further slowed down to 6.7 percent in June from 6.9 percent in May as inflation rates of all the commodity groups except for housing and repairs (H&R) decelerated. Inflation a year ago was 7.6 percent.
Excluding selected food and energy items, core inflation further eased to 5.8 percent in June from 6.1 percent in May.
Likewise, inflation rate in the National Capital Region (NCR) went down by 0.5 percentage point to 7.4 percent in June from 7.9 percent in May. This was brought about by the slower movement in the inflation rates of all the commodity groups except for clothing and miscellaneous items.
Annual inflation rate in Areas Outside the National Capital Region (AONCR) remained at its May rate of 6.4 percent.
Month-on-Month Inflation Rates, All Items |
||
| June | May | |
| Philippines | 0.7 | 0.2 |
| NCR | 1.0 | 0.2 |
| AONCR | 0.6 | 0.2 |
Tuition fee hikes in many regions including NCR along with the upward price adjustments of school supplies, gasoline, diesel, medicines and selected medical and health goods mainly contributed to the 0.7 percent growth in the month-on-month inflation rate in June. Add-ons in the prices of LPG and kerosene were also noted during the month.
CONSUMER PRICE
INDEX
(2000=100)
JUNE 2006
l By Region, Year-on-Year
The inflation rate in NCR was slower by 0.5 percentage point to 7.4 percent in June from 7.9 percent in May.
Inflation in AONCR remained at its previous month’s rate of 6.4 percent. Seven regions registered higher annual inflation rates while the others maintained their May rates and slowdowns were recorded in a few regions. The biggest increase was recorded in CAR at 0.8 percentage point (6.8% from 6.0%). The highest inflation rate was still seen in ARMM at 9.0 percent while the lowest was still observed in Western Visayas at 4.7 percent.
l By Commodity Group, Year-on-Year
Except for H&R whose rate remained at 4.0 percent, all the commodity groups posted slower rates in June. The inflation rate for FBT moved down to 5.6 percent in June from 5.9 percent in May; clothing, 3.0 percent from 3.2 percent; FLW, 13.2 percent from 13.4 percent; services, 11.0 percent from 11.1 percent; and miscellaneous items, 3.0 percent from 3.1 percent.
The inflation rate for food alone in the Philippines slipped to 5.6 percent in June from 5.9 percent in May.
Slower annual rates were seen in the prices of rice, 3.5 percent in June from 4.1 percent in May; corn, 3.4 percent from 3.6 percent; eggs, 5.6 percent from 5.7 percent; fish, 5.0 percent from 5.2 percent; and meat, 1.2 percent from 1.7 percent. On the other hand, higher annual rates were correspondingly noted in the prices of dairy products and miscellaneous foods at 6.0 percent and 9.2 percent from their respective last month’s rates of 5.9 percent and 8.9 percent. Inflation for cereal preparations and fruits and vegetables remained at their corresponding May rates of 6.1 percent and 9.7 percent.
In NCR, inflation for FBT went down to 5.3 percent in June from 5.5 percent in May; H&R, 5.1 percent from 5.2 percent; FLW, 13.1 percent from 14.1 percent; and services, 12.4 percent from 14.0 percent. Inflation rate of clothing was however higher at 2.7 percent from 2.6 percent while for miscellaneous items it moved at its previous month’s rate of 2.8 percent.
The inflation rate for food alone decelerated to 5.3 percent in June from 5.5 percent in May.
Price discount was seen in meat at -0.3 percent in June from 0.5 percent in May. In addition, lower rates were noticed in the prices of corn, 0.2 percent in June from 2.2 percent in May; cereal preparations, 7.0 percent from 7.2 percent; dairy products, 6.5 percent from 6.8 percent; eggs, 8.8 percent from 9.8 percent; and fruits and vegetables, 5.9 percent from 9.2 percent. Meanwhile, higher annual price hikes were correspondingly observed in rice and fish at 0.8 percent and 2.7 percent from 0.5 percent and 2.4 percent, respectively.
In AONCR, the rates of FLW and services correspondingly advanced to 13.2 percent and 10.2 percent in June from 13.0 percent and 9.6 percent, respectively. However, inflation for FBT eased to 5.7 percent from 5.9 percent; clothing, 3.3 percent from 3.4 percent; and miscellaneous items, 3.1 percent from 3.2 percent. Inflation for H&R was still at 3.2 percent.
Inflation rate for food alone slid to 5.7 percent in June from 5.9 percent in May.
The annual price addition in rice further decelerated to 3.9 percent in June from 4.7 percent in May. Eleven regions posted slower annual rates with the biggest slowdown of 3.6 percentage points (3.8% from 7.4%) noticed in Central Visayas.
Lower annual growth rates were also recorded in corn, 3.4 percent in June from 3.7 percent in May; fish, 5.5 percent from 5.9 percent; and meat, 1.9 percent from 2.2 percent.
Inflation rate for dairy products climbed to 5.8 percent from 5.7 percent; eggs, 4.7 percent from 4.5 percent; and fruits and vegetables, 10.9 percent from 9.9 percent. The corresponding annual rates of price adjustments in cereal preparations and miscellaneous foods remained at 5.7 percent and 8.4 percent.
l By Region, Month-on-Month
The general level of consumer prices in NCR was higher at 1.0 percent in June from 0.2 percent in May. This was primarily effected by the 1.3 percentage points increments in the prices of services items at 2.5 percent from 1.2 percent. In addition, prices of FBT and FLW items grew to 0.6 percent and 1.9 percent in June from 0.2 percent and -1.5 percent in May. While price increases in clothing items stayed at its previous month’s rate of 0.2 percent, prices of H&R and miscellaneous items remained stable as their indices posted zero growth.
Prices in AONCR advanced by 0.4 percentage point to 0.6 percent in June from 0.2 percent in May brought about by the increments in the prices of most of the commodity groups. Prices of clothing items rose to 0.3 percent in June from 0.2 percent in May; FLW items, 0.7 percent from -1.1 percent; and services items, 1.6 percent from 0.6 percent. Movements in the prices of FBT remained at 0.4 percent and H&R items and miscellaneous items at 0.2 percent. The highest month-on-month rate at 1.0 percent was seen in CAR and Zamboanga Peninsula while Central Luzon, Central Visayas and Caraga posted the lowest rate at 0.4 percent.
l By Commodity Group, Month-on-Month
The month-on-month inflation rate increased to 0.7 percent in June from 0.2 percent in May. Prices of H&R items were higher at 0.2 percent in June from 0.1 percent in May; FLW items, 1.1 percent from -1.2 percent; and services items, 1.9 percent from 0.8 percent. However, price hikes in miscellaneous items eased to 0.1 percent from 0.2 percent while uptick in the prices of FBT and clothing items were still at 0.4 percent and 0.2 percent.
The continued price increases in selected spices and seasonings, tea, and cooking oil and upward price adjustments of meals eaten outside the home observed in many regions including NCR brought 0.7 percent gain in the miscellaneous food index in the Philippines, 1.4 percent in NCR and 0.4 percent in AONCR.
Additions in the prices of vegetables in all the regions were observed during the month. Moreover, prices of selected fruits were also up in some regions. Thus, the fruits and vegetables indices at the national level and in AONCR correspondingly posted higher growth rates at 1.0 percent and 1.2 percent from their respective previous month’s rates of 0.2 percent and 0.1 percent. In NCR, prices of fruits and vegetables moved upward by only 0.1 percent from a 0.7 percent growth last month.
The price of rice in NCR rose by 0.1 percent in June from zero growth in May. However, price increases in AONCR and Philippines were reduced to 0.4 percent and 0.3 percent from their corresponding last month’s rates of 0.5 percent and 0.4 percent as nine regions posted lower growth rates.
Prices of flour and flour products were still up during the month. Add-ons in the prices of native cakes were also noted. Thus, higher monthly price increments were registered in the indices of cereal preparations in the Philippines and AONCR at 0.5 percent and 0.6 percent from 0.4 percent and 0.3 percent, respectively. Meanwhile, price additions of flour and flour products including native cakes in NCR were slower at 0.3 percent compared to 0.6 growth last month.
The fish index in NCR gained by 1.3 percent in June from -0.3 percent in May due to the increments in the prices of canned fish and selected fresh and processed fish species. On the contrary, the fish index in AONCR dropped by -0.2 percent as prices of fresh fish and selected sea foods declined in some regions. Thus, the overall index grew by 0.1 percent, slower than that of its last month’s rate of 0.2 percent.
Increments in the prices of corn in the Philippines and AONCR slowed to 0.7 percent from 1.2 percent. For four consecutive months, the price of corn in NCR remained stable as its index continued registering zero growth.
Tuition fee hikes in many regions including NCR were noted during the month. Price add-ons in selected school supplies, gasoline, diesel, medicines and some medical and health goods, movie admission fee and higher charges for personal services were also recorded. All these factors contributed to increments in the services index at 1.9 percent in the Philippines, 2.5 percent in NCR and 1.6 percent in AONCR.
Upward price adjustments of LPG and kerosene in most of the regions including NCR along with the price hikes of firewood and charcoal in some regions pushed up the FLW index in the three areas: Philippines, 1.1 percent from -1.2 percent; NCR, 1.9 percent from -1.5 percent; and AONCR, 0.7 percent from -1.1 percent.
Prices of selected construction materials were still higher in many regions. Thus, the H&R index in the Philippines and AONCR grew by 0.2 percent. However, prices of H&R items in NCR generally remained stable during the month as its group’s index still posted zero growth.
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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