Date Released: May 5, 2009
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
APRIL AND MARCH 2009
Year-on-Year Inflation Rates, All Items |
|||
| Apr | Mar | Year-to-date | |
| Philippines | |||
| Headline | 4.8 | 6.4 | 6.4 |
| Core | 5.0 | 5.6 | 6.0 |
| NCR | |||
| Headline | 2.2 | 3.2 | 3.6 |
| AONCR | |||
| Headline | 5.8 | 7.8 | 7.6 |
The year-on-year headline inflation rate in the Philippines further eased to 4.8 percent in April from 6.4 percent in March due to the slower movements in the rates of all commodity groups except services. Inflation a year ago was 8.3 percent.
Excluding selected food and energy items, core inflation continued to decelerate at 5.0 percent in April from 5.6 percent in March.
The annual inflation rate in the National Capital Region (NCR) slowed down to 2.2 percent in April from 3.2 percent in March as the annual price adjustments in the commodity groups improved except in clothing and fuel, light and water (FLW).
Inflation rate in Areas Outside the National Capital Region (AONCR) also continued to register a slower rate of 5.8 percent in April from 7.8 percent in March brought about by the decreases in inflation rates of all the commodity groups except for services and miscellaneous items.
The month-on-month inflation advanced to 0.5 percent in April from 0.1 percent in March. Higher prices of selected food items such as fish, miscellaneous food, rice, meat, corn and dairy products were observed during the month. Upward increments in the prices of kerosene, diesel, gasoline and the increased charges on water and electricity rates in some regions including NCR were also noted. Similarly, airplane fares were on the uptrend..
The annual inflation rate in NCR continued to move at a slower rate of 2.2 percent in April from 3.2 percent in March.
Likewise, annual inflation rate in AONCR further eased to 5.8 percent in April from 7.8 percent in March. All the regions posted lower annual inflation rates with the biggest slowdown of 3.6 percentage points (5.6% from 9.2%) observed in SOCCSKSARGEN. The lowest annual rate was seen in MIMAROPA at 3.8 percent while the highest rate was in Caraga at 10.4 percent.
Except for services index whose rate inched up to 1.7 percent from 1.6 percent in March, all the other commodity groups moved at slower rates. The annual inflation rate for food, beverages and tobacco (FBT) slid to 8.0 percent in April from 11.4 percent in March; clothing, 2.8 percent from 2.9 percent; housing and repairs (H&R), 3.2 percent from 3.9 percent; and miscellaneous items, 3.0 percent from 3.1 percent. The annual rate of price movement of the FLW index was still negative but at a faster pace of -2.4 percent from -2.8 percent.
At the national level, annual inflation rate for food alone also moved down to 8.2 percent in April from 11.9 percent in March.
Compared to their corresponding rates in March, annual price additions in April were slower in all the food groups except for fruits and vegetables whose annual inflation rate was higher at 7.5 percent from 5.6 percent. On an annual basis, the price increase in rice slipped to 14.9 percent from 29.3 percent; corn, 15.6 percent from 27.5 percent; cereal preparations, 9.9 percent from 12.5 percent; dairy products, 7.6 percent from 8.5 percent; eggs, 7.1 percent from 7.8 percent; fish, 5.7 percent from 6.2 percent; meat, 5.6 percent from 8.2 percent; and miscellaneous foods, 5.1 percent from 6.5 percent.
In NCR, a negative annual inflation rate was still noticed in services items at -2.3 percent from its last month’s rate of -2.8 percent. In addition, annual inflation rate for FBT slackened to 5.2 percent from 7.5 percent; H&R, 2.9 percent from 4.2 percent; and miscellaneous items, 2.5 percent from 2.9 percent. Meanwhile, a faster pace of annual price adjustment was correspondingly noted in clothing and FLW items at 1.4 percent and 0.3 percent from their respective last month’s rates of 1.3 percent and -0.8 percent.
Inflation for food alone in NCR also continued to go down at a rate of 5.2 percent in April from 7.8 percent in March.
The annual growth in rice index decelerated to 4.5 percent in April from 21.6 percent in March; cereal preparations, 8.9 percent from 10.9 percent; dairy products, 6.7 percent from 7.5 percent; eggs, 7.5 percent from 9.0 percent; fish, -0.8 percent from 0.6 percent; meat, 3.4 percent from 6.2 percent; and miscellaneous food items, 6.2 percent from 6.6 percent. Meanwhile, the annual price change in fruits and vegetables index was higher at 8.4 percent from 5.5 percent while that for corn remained at its last month’s rate of 0.2 percent.
In AONCR, inflation rate for FLW remained negative at -3.9 percent in April from -3.8 percent in March. Moreover, the rate in the following commodity groups was slower during the month: FBT items, 8.9 percent from 12.6 percent; clothing and H&R items, 3.3 percent from 3.6 percent and 3.5 percent, respectively. On the other hand, inflation for services index went up to 4.2 percent while that for miscellaneous items was noted at 3.2 percent, same rate in March.
On an annual basis, price gains in food alone in AONCR further improved to 9.2 percent in April from 13.2 percent in March.
As all regions in AONCR posted slower annual growth rates in rice, the index in the area decelerated to 16.5 percent in April from 30.5 percent in March. The biggest slowdown of 20.7 percentage points (9.8% from 30.5%) was noted in Central Visayas.
A lower annual growth rate was also seen in corn at 15.9 percent from 28.0 percent; cereal preparations, 10.3 percent from 13.0 percent; dairy products, 7.9 percent from 8.9 percent; eggs, 7.0 percent from 7.4 percent; fish, 7.2 percent from 7.4 percent; meat, 6.5 percent from 9.1 percent; and miscellaneous foods, 4.7 percent from 6.5 percent.
A higher annual price addition was however registered in fruits and vegetables at 7.2 percent from 5.6 percent.
On a monthly basis, prices in NCR moved up to 1.1 percent in April compared to the -0.2 percent rate in March due to the 6.1 percent upward price adjustment in FLW items from -1.2 percent. Moreover, prices of FBT and services items correspondingly climbed by 0.3 percent and 1.7 percent from their respective previous month’s rates of 0.1 percent and -1.1 percent. On the other hand, price increases were slower in clothing items at 0.2 percent from 0.4 percent; H&R, 0.1 percent from 0.2 percent; and miscellaneous items, 0.2 percent from 0.6 percent.
Movement of prices in AONCR remained at its previous month’s rate of 0.2 percent. Upward adjustments were correspondingly recorded in the prices of FLW and services items at 0.1 percent and 0.8 percent, respectively. Meanwhile, price hike in FBT items was slower at 0.1 percent from 0.4 percent. Clothing and miscellaneous items retained their last month’s price increase of 0.2 percent while those of H&R items remained stable as the group’s index had a zero growth from 0.2 percent.
The highest month-on-month inflation at 0.5 percent was registered in Caraga while the lowest rate of -0.1 percent was in Bicol and Western Visayas.
Price movements in Luzon and Mindanao were higher than that of Visayas.
At the national level, a higher month-on-month inflation rate was recorded at 0.5 percent in April from 0.1 percent in March. Prices of FLW and services items correspondingly rose to 2.2 percent and 1.1 percent in April from -0.5 percent and -0.6 percent, respectively. Meanwhile, price gains were slower in FBT and H&R items at 0.1 percent from 0.4 percent and 0.2 percent, respectively; and miscellaneous items, 0.2 percent from 0.3 percent. Clothing items retained its last month’s price increase of 0.2 percent.
The fish index advanced by 0.4 percent in the three areas although favorable weather condition for deep sea fishing prevailed during the month together with the abundant harvest of the seasonally available tuna species. The increase was due to various fish species that were priced higher as consumers shifted to fishery products due to the observance of the Lenten season.
Upward movements in the prices of coffee, powdered tonic food drink, margarine and selected spices and seasonings raised the miscellaneous index in NCR by 0.5 percent from 0.2 percent. Meanwhile, prices of miscellaneous food items in AONCR were generally stable as its group’s index registered a zero growth during the month. In the Philippines, the group’s index retained its last month’s rate of 0.1 percent.
The price of rice in AONCR rose 0.2 percent, slower than the 2.0 percent last month. On the other hand, sufficient supply of rice in NCR markets pulled down its index by -0.6 percent from 0.3 percent. The national index was up by 0.1 percent.
The meat index in AONCR climbed by 0.2 percent due to the upward price adjustments in the prices of beef, chicken and pork products such as hotdog, longganisa and tocino in selected regions. This was however, slower than the 0.6 percent last month’s rate. In NCR, the index moved at -0.1 percent as price discounts were recorded in pork and pork products. These mixed trends resulted to a slower growth of 0.1 percent in the national index.
The big volume of harvests of vegetables due to favorable weather conditions brought abundant supply in the markets causing their prices to decline. Prices of fruits also decreased during the month. Thus, the group’s index for fruits and vegetables in the Philippines dropped by -0.6 percent and in AONCR, -1.0 percent. However, in NCR the group’s index went up by 0.8 percent from -1.1 percent due to price hikes in tomatoes, pechay and other vegetables.
The upward adjustment in water rates along with the increased electricity rates in NCR mainly pushed up the FLW index by 6.1 percent from -1.2 percent. Likewise, higher electricity rates in selected regions in AONCR raised the group’s index by 0.1 percent.
Higher prices of kerosene, diesel, gasoline and lubricating oil in selected regions including NCR along with the upward shift in prices of selected medicines and airplane fares contributed to the gains in the services index in the three areas: Philippines, 1.1 percent from -0.6 percent; NCR, 1.7 percent from -1.1 percent; and AONCR, 0.8 percent from -0.3 percent.
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).
(Sgd.) CARMELITA N. ERICTA
Administrator
Source: National Statistics Office
Manila, Philippines
Page last updated: May 5, 2009
Month-on-Month Inflation Rates, All Items |
||
| Apr | Mar | |
| Philippines | 0.5 | 0.1 |
| NCR | 1.1 | -0.2 |
| AONCR | 0.2 | 0.2 |
CONSUMER PRICE INDEX
(2000=100)
APRIL 2009
By Region, Year-on-Year
By Commodity Group, Year-on-Year
By Region, Month-on-Month
By Commodity Group, Month-on-Month