The inflation rate in NCR slowed down by 0.4 percentage point to 2.4 percent in October from 2.8 percent in September.

Inflation rate in AONCR picked up by 0.4 percentage point to 2.9 percent in October from 2.5 percent in September. Higher annual inflation rates were recorded in all the regions except for Northern Mindanao and Autonomous Region in Muslim Mindanao (ARMM). The biggest increment of 0.6 percentage point was noticed in CAR (2.3% from 1.7%), Davao (2.8% from 2.2%) and SOCCSKSARGEN (3.6% from 3.0%). ARMM still posted the highest annual rate of 4.3 percent while Caraga had the lowest rate of 2.1 percent.

Annual inflation rate was higher in services items at 3.5 percent in October from 2.4 percent in September while slower upward price movements were correspondingly registered in clothing and FLW at 1.9 percent and 1.0 percent from their respective last month’s rates of 2.0 percent and 2.2 percent. Annual price adjustments in FBT, H&R and miscellaneous items remained at their corresponding previous month’s rates of 3.5 percent, 1.2 percent and 1.4 percent.

In NCR, annual inflation rate for FBT eased to 2.9 percent in October from 3.8 percent in September; clothing, 1.8 percent from 2.0 percent; H&R, 1.0 percent from 1.1 percent; and FLW, 0.2 percent from 4.5 percent. On the other hand, inflation for services jumped to 4.3 percent from 2.6 percent while that of miscellaneous items remained at 1.2 percent.

In AONCR, inflation rate for FBT went up to 3.6 percent in October from 3.3 percent in September; FLW, 1.4 percent from 1.0 percent; services, 3.0 percent from 2.2 percent; and miscellaneous items, 1.5 percent from 1.4 percent. However, inflation for clothing eased to 1.8 percent from 1.9 percent. For three consecutive months, inflation for H&R remained at 1.4 percent.

A 0.1 percent drop was noted in the month-on-month inflation rate in NCR in October from -0.2 percent in September. This was mainly effected by the 4.6 percent decline in the prices of FLW items. Price increases of FBT items also improved to 0.6 percent from 0.7 percent. Meanwhile, price increments of clothing and services items were correspondingly higher at 0.1 percent and 0.6 percent from zero growth and 0.1 percent, respectively. Prices of H&R and miscellaneous items remained stable as their group’s index posted a zero growth rate.

Prices in AONCR inched up by 0.4 percent in October from 0.3 percent in September. This can be primarily attributed to the corresponding price gains of FLW and services items at 0.1 percent and 0.4 percent from a negative rate of 0.9 percent and zero growth, respectively. In addition, prices of H&R and miscellaneous items also correspondingly moved upward by 0.1 percent and 0.2 percent from their respective last month’s rates of zero growth and 0.1 percent. Upward price adjustments in FBT items were however slower at 0.5 percent from 0.7 percent while those of clothing items remained at 0.1 percent.

The highest month-on-month inflation rate of 0.9 percent was noticed in Bicol while the lowest rate of -0.5 percent was in ARMM.

With the uptrend in the prices in Ilocos, CALABARZON and Bicol, the island of Luzon generally posted the highest monthly growth rate compared to Visayas and Mindanao. Meanwhile, the price increments in regions in Visayas were slower compared to their last month’s rates. Among the three big islands of the archipelago, movements of prices in Mindanao were generally slowest compared to Luzon and Visayas. ARMM was the only region in the Philippines that had a negative monthly growth rate during the month. Stable prices were generally recorded in Zamboanga Peninsula as its aggregate index posted a zero growth rate.

The national month-on-month inflation rate rose by 0.2 percent in October from 0.1 percent in September brought about by the 0.5 percent additions in the prices of services items from 0.1 percent. Increases in the prices of H&R items at 0.1 percent from zero growth also contributed to the uptrend. On the other hand, price hikes in FBT items eased to 0.5 percent from 0.7 percent while those for clothing and miscellaneous items remained at 0.1 percent. Downward price adjustments were still seen in FLW items at -1.5 percent from -2.4 percent.

Upward adjustments in the prices of gasoline and diesel in many regions including NCR primarily effected the 0.5 percent gain in the services index in the Philippines, 0.6 percent in NCR and 0.4 percent in AONCR. Higher prices of medicines and selected medical and health goods in some regions also contributed to the increase.

The miscellaneous items index in the Philippines and AONCR gained by 0.1 percent and 0.2 percent, respectively as add-ons in the prices of selected items for household operations and furnishings and personal care and effects were still noticed in some regions. Prices in NCR however remained stable as its group’s index recorded a zero growth rate during the month.

Lower charges in the generation and system loss along with the discounts given to residential consumers in the electricity rates in NCR mainly brought declines in the FLW index in the area and in the Philippines by -4.6 percent and -1.5 percent, respectively. However, the series of price gains in LPG and kerosene in many regions during the second half of the month effected the 0.1 percent growth in the FLW index in AONCR.