Date Released: May 4, 2007
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
APRIL AND MARCH 2007
Year-on-Year Inflation Rates, All Items |
|||
| April | March | Year-to-date | |
| Philippines | |||
| Headline | 2.3 | 2.2 | 2.8 |
| Core | 2.6 | 2.6 | 3.0 |
| NCR | |||
| Headline | 2.1 | 2.1 | 2.7 |
| AONCR | |||
| Headline | 2.4 | 2.3 | 2.7 |
Year-on-year headline inflation rate at the national level moved upward to 2.3 percent in April from 2.2 percent in March as the inflation of food, beverages and tobacco (FBT), fuel, light and water (FLW) and services went up. Inflation a year ago was 7.1 percent.
Excluding selected food and energy items, core inflation remained at its March rate of 2.6 percent.
Inflation rate in the National Capital Region (NCR) was 2.1 percent in April, the same rate recorded in March.
Meanwhile, inflation rate in Areas Outside the National Capital Region (AONCR) increased to 2.4 percent in April from 2.3 percent in March as inflation for FBT, FLW and services were higher during the month.
Month-on-Month Inflation Rates, All Items |
||
| April | March | |
| Philippines | 0.2 | -0.1 |
| NCR | 0.1 | -0.1 |
| AONCR | 0.2 | 0.0 |
Compared with March, the general level of consumer prices grew by 0.2 percent in April from -0.1 percent. This can be attributed to the higher prices of selected food items such as rice, fish, sugar, garlic, ginger, calamansi and corn. The increment in the prices of gasoline, diesel, firewood, kerosene, charcoal, medicine, selected construction materials and higher hospital and dental charges observed in selected regions including NCR also contributed to the uptrend.
CONSUMER PRICE
INDEX
(2000=100)
APRIL 2007
By Region, Year-on-Year
The annual inflation rate in NCR moved at its March rate of 2.1 percent.
On the other hand, annual inflation rate in AONCR accelerated to 2.4 percent in April from 2.3 percent in March. All the regions except for MIMAROPA, Bicol and ARMM posted higher inflation rates, with the biggest increase at 1.3 percentage points (4.1% from 2.8%) noticed in Zamboanga Peninsula, the highest rate among the regions. The lowest rate was in CAR at 1.4 percent.
By Commodity Group, Year-on-Year
The annual inflation rate for FBT rose to 2.8 percent in April from 2.7 percent in March; FLW, 2.2 percent from 1.2 percent; and services, 2.3 percent from 2.2 percent. However, inflation rate for clothing and miscellaneous items correspondingly slowed down to 2.6 percent and 1.7 percent from their respective last month’s rates of 2.7 percent and 1.8 percent. Inflation for H&R remained at 1.4 percent.
The inflation rate for food alone at the national level at 2.7 percent in April was higher than the 2.6 percent recorded in March.
On an annual basis, higher rate was observed in the price of eggs, 5.8 percent in April from 5.5 percent in March; fish, 3.9 percent from 3.2 percent; and fruits and vegetables, 2.3 percent from 1.8 percent. Meanwhile, the annual price gain of corn moved slower at 4.2 percent from 4.9 percent; cereal preparations, 3.4 percent from 3.7 percent; and miscellaneous foods, 2.6 percent from 2.8 percent. The annual price increments in dairy products and meat remained at 4.1 percent and 1.8 percent, respectively.
In NCR, inflation for FLW and services were higher at 1.7 percent and 2.4 percent, respectively in April from their corresponding last month’s rates of 1.3 percent and 2.2 percent. On the other hand, inflation for FBT moved up at a slower pace of 2.8 percent from 2.9 percent; clothing, 3.1 percent from 3.3 percent; and miscellaneous items, 1.3 percent from 1.4 percent. The H&R index moved at its March rate of 1.0 percent.
The inflation rate for food alone in NCR eased to 2.7 percent in April from 2.9 percent in March.
Similarly, the annual price hikes in rice slowed to 0.2 percent from 0.4 percent; cereal preparations, 3.8 percent from 4.3 percent; fish, 1.7 percent from 2.4 percent; fruits and vegetables, 0.7 percent from 1.5 percent; and miscellaneous foods, 3.3 percent from 3.4 percent.
The annual price adjustments in corn and dairy products remained at zero and 4.3 percent, respectively.
On the other hand, higher annual growth rates were correspondingly observed in eggs and meat at 8.9 percent and 3.0 percent in April from 8.3 percent and 2.6 percent, respectively in March.
In AONCR, inflation rate for FBT increased to 2.8 percent in April from 2.7 percent in March; FLW, 2.4 percent from 1.1 percent; and services, 2.3 percent from 2.2 percent. Meanwhile, inflation for clothing slipped to 2.3 percent from 2.5 percent; H&R, 1.7 percent from 1.8 percent; and miscellaneous items, 1.7 percent from 1.9 percent.
Inflation rate for food alone in AONCR advanced to 2.7 percent in April from 2.5 percent in March.
The annual price addition in rice was at 1.8 percent, the same rate posted last March. Only six regions registered higher price increments as the harvest season have started in some regions. The biggest increase of 1.0 percentage point (2.4 percent from 1.4 percent) was noted in Caraga. Likewise, faster annual price hike was noticed in eggs at 4.8 percent from 4.7 percent; fish, 4.3 percent from 3.4 percent; and fruits and vegetables, 2.8 percent from 1.9 percent while the annual growth rate of dairy products remained at 4.1 percent. On the contrary, annual price add-ons in corn was slower at 4.2 percent from 4.9 percent, cereal preparations, 3.2 percent from 3.5 percent; meat, 1.4 percent from 1.5 percent; and miscellaneous food items, 2.4 percent from 2.5 percent.
By Region, Month-on-Month
The month-on-month inflation in NCR was registered at 0.1 percent in April, faster than the -0.1 percent in March primarily due to the 0.6 percent increase in the prices of services items. Movements in the prices of H&R items, likewise picked up at 0.1 percent from zero growth. Meanwhile, prices of FLW items decreased by -0.1 percent from 0.1 percent while prices of FBT items, clothing, and miscellaneous items remained stable as their groups’ index posted zero growth.
Similarly, movements in consumer prices in AONCR was up by 0.2 percent in April from zero growth in March. Prices of FBT items advanced by 0.3 percent from -0.1 percent; H&R and FLW, 0.1 percent and 0.2 percent, respectively from zero growth; and services, 0.3 percent from 0.1 percent. Increases in the prices of clothing and miscellaneous items were at 0.1 percent from 0.2 percent.
By Commodity Group, Month-on-Month
Measured from a month ago, prices at the national level went up by 0.2 percent in April from -0.1 percent. This was effected by adjustments in the prices of the heavily weighted FBT items at 0.2 percent from -0.2 percent; H&R items, 0.1 percent from zero growth; and services items, 0.4 percent from 0.1 percent. On the other hand, price increments were slower in clothing items and miscellaneous items at 0.1 percent from 0.2 percent, respectively. The previous month’s rate of 0.1 percent was retained in FLW items.
The price increase of rice in AONCR rose to 0.5 percent from 0.4 percent as eight regions posted higher rates. On the other hand, sufficient supply of rice in NCR markets pulled down its index by -0.1 percent. The national index was up by 0.4 percent.
Price quotations for corn further moved upward in the Philippines and AONCR at the rate of 1.0 percent from 0.9 percent in the previous month. In NCR, prices of corn generally remained stable as the group’s index recorded zero growth during the month.
Higher prices of selected sea foods (shrimps, crabs, shells and mollusks) and fish species in the wet markets in AONCR raised the fish index in the area by 0.6 percent. The good catch of fishermen due to favorable weather condition experienced during the month resulted to abundant supply of some selected marine and brackish fish species in the NCR markets. This lowered the fish index in the area by -0.4 percent. Overall, the national index moved up by 0.5 percent.
The meat index in NCR climbed by 0.3 percent from -0.2 percent due to the upward price adjustments in the prices of beef, pork, and pork products such as hotdog, longganisa and tocino. In AONCR, the group’s index moved at its previous month’s rate of -0.1 percent as price discounts were recorded in chicken. These mixed trends resulted to a zero growth in the national index.
Price additions in flour, bread, biscuits, and noodles in some regions including the NCR during the month raised the index for cereal preparations in the two areas and in the Philippines by 0.1 percent. This was however, slower than their last month’s corresponding rates of 0.2 percent, 0.4 percent and 0.3 percent.
Price adjustments in milk and milk products were slower during the month. Thus, slower gains were seen in the index of dairy products at 0.3 percent in the Philippines and AONCR; and 0.5 percent in NCR.
The fair weather conditions that generally prevailed in the country during the month brought continued good production of eggs that resulted to its ample supply in the markets. Thus, the group’s index in the Philippines and AONCR eased to 0.1 percent from 0.7 percent and 0.8 percent, respectively and in NCR, -0.1 percent from 0.4 percent.
Despite the extreme heat experienced in April, the volume of vegetables reaching various wet markets continued to increase. Price discounts were noted in some of these vegetables to minimize losses due to spoilage. Likewise, the plentiful supply of summer fruits in the wet markets during the month brought down their prices. Thus, the index for fruits and vegetables still declined in the three areas: Philippines and AONCR, -0.2 percent from -2.6 percent and -2.7 percent, respectively; and NCR, -0.6 percent from -2.0 percent.
Add-ons in the prices of cooking oil, powdered tonic drink, coffee, sugar, margarine and selected spices and seasonings in AONCR pulled up the miscellaneous foods index in the area and in the Philippines by 0.1 percent. This was however, slower than their corresponding rates of 0.4 percent and 0.3 percent. Meanwhile, prices of miscellaneous food items in NCR were generally stable as its group’s index registered a zero growth during the month.
Price gains in selected construction materials caused the H&R index in the three areas to accelerate by 0.1 percent.
Higher prices of engine oil, lubricating oil, diesel and gasoline posted in selected regions including NCR along with the increased charges for medical and personal services in some regions pegged the increment in the services index in the Philippines at 0.4 percent; NCR, 0.6 percent; and AONCR, 0.3 percent.
Price hikes in some items for personal care and effects, laundry and cleaning supplies noted in selected regions pushed up the miscellaneous items index in the Philippines and AONCR by 0.1 percent. This was however, slower than their last month’s rates of 0.2 percent. Prices of miscellaneous items in NCR remained stable as its index recorded a zero growth during the month.
The FLW index in AONCR went up by 0.2 percent from zero growth. This was mainly effected by the increase in the prices of firewood, charcoal and kerosene in many regions. In NCR, the group’s index dropped to -0.1 percent due to lower electricity and water rates.
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
Page last updated: May 4, 2007