Date Released: December 4, 2009
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
NOVEMBER AND OCTOBER 2009
Year-on-Year Inflation Rates, All Items |
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| November | October | Year-to-date | |
| Philippines | |||
| Headline | 2.8 | 1.6 | 3.2 |
| Core | 2.7 | 2.7 | 4.2 |
| NCR | |||
| Headline | 2.0 | 1.1 | 1.4 |
| AONCR | |||
| Headline | 3.1 | 1.9 | 3.9 |
At the national level, the year-on-year headline inflation rate further picked up to 2.8 percent in November from 1.6 percent in October. This was mainly due to the acceleration in the inflation rate posted in the heavily weighted food, beverages and tobacco (FBT) index. Higher annual price increments in the indexes of clothing and services also contributed to the uptrend. Inflation a year ago was 9.9 percent.
Excluding selected food and energy items, core inflation remained at 2.7 percent in November.
The annual inflation rate in the National Capital Region (NCR) likewise continued to show an upward trend at 2.0 percent in November from 1.1 percent in October brought about by the higher annual price adjustment in the clothing index and lesser negative rates observed in the fuel, light and water (FLW) and services index.
In Areas Outside the National Capital Region (AONCR), annual inflation went up to 3.1 percent in November from 1.9 percent in October. This was effected by the higher annual price hikes registered in FBT, FLW and services index.
The effects of typhoon “Pepeng” to production and transportation of vegetables limited the volume of vegetable deliveries in the markets in AONCR. Thus, prices of vegetables in many regions went up during the month. The tight supply of chicken and pork also raised its prices in the markets. Moreover, price increases in other food items such as corn, eggs and sugar and in fuels like kerosene, LPG, gasoline and diesel were also observed in many regions including NCR. All these factors pushed the overall month-on-month inflation rate by 0.6 percent in November, the same rate recorded in October.
The annual inflation rate in NCR further picked up to 2.0 percent in November from 1.1 percent in October.
Likewise, year-on-year inflation rate in AONCR jumped to 3.1 percent in November from 1.9 percent in October as higher annual rates were observed in all the regions. The biggest uptick of 2.7 percentage points was posted in Ilocos (3.5% from 0.8%). Among the regions, annual inflation rate was highest in Cagayan Valley at 5.6 percent while the lowest rate continued to prevail in Central Visayas at 1.7 percent.
The annual inflation for FBT index in the Philippines was higher at 4.8 percent in November from 3.7 percent in October; clothing, 2.1 percent from 2.0 percent; and services, 0.2 percent from -2.2 percent. In addition, the annual price movement in the FLW index started to gain at -1.1 percent from its previous month’s rate of -3.6 percent. Annual price hike in the index of miscellaneous items however eased to 1.9 percent from 2.0 percent while that of housing and repairs (H&R) remained at 2.1 percent.
Annual inflation rate for food alone at the national level rose to 4.9 percent in November from 3.8 percent in October.
The index of fruits and vegetables posted a double-digit inflation figure of 13.7 percent in November from 9.6 percent in October. In addition, annual price gains were also higher in the index for rice at 3.2 percent from 0.8 percent; corn, 0.1 percent from -0.1 percent; eggs, 6.1 percent from 5.8 percent; meat, 5.9 percent from 4.5 percent; and miscellaneous foods, 3.1 percent from 2.8 percent. On the other hand, annual price increments were correspondingly slower in the indexes of cereal preparations and dairy products at 3.0 percent and 3.4 percent from their respective last month’s rates of 3.3 percent and 3.6 percent while that for fish index remained at 5.3 percent.
In NCR, the annual inflation rate for clothing was higher at 1.2 percent in November from 1.1 percent in October. Annual price adjustments in the FLW and services index started to recover at -3.7 percent and -1.6 percent, respectively from their corresponding last month’s rates of -4.8 percent and -5.6 percent. However, annual inflation rate in miscellaneous items index decelerated to 1.6 percent from 1.7 percent while that for H&R index moved at its October rate of 2.1 percent.
Annual inflation for food alone in NCR eased to 6.1 percent in November from 6.3 percent in October.
Annual growth in the cereal preparations index slowed to 1.5 percent in November from 1.9 percent in October; dairy products, 2.3 percent from 2.7 percent; fish, 4.8 percent from 6.3 percent; and fruits and vegetables, 17.9 percent from 24.9 percent. Meanwhile, higher annual price changes were seen in the index of rice at 2.5 percent from -0.2 percent; corn, 11.0 percent from 10.0 percent; eggs, 7.4 percent from 7.3 percent; and meat, 8.3 percent from 6.2 percent. Annual inflation for miscellaneous foods index remained at 4.2 percent.
In AONCR, higher annual inflation was posted in the FBT index at 4.6 percent in November from 3.1 percent in October; FLW, 0.3 percent from -3.0 percent; and services, 1.3 percent from -0.1 percent. Annual inflation in miscellaneous items index however slowed to 1.9 percent from 2.2 percent while that for clothing and H&R index remained at 2.3 percent and 2.1 percent, respectively.
On an annual basis, price gains for food alone in AONCR picked up to 4.7 percent in November from 3.0 percent in October.
Annual price increases in the index of rice were higher in all the regions except in Western Visayas, SOCCSKSARGEN and ARMM. Thus, the aggregate index for rice in AONCR rose by 3.3 percent in November from 0.9 percent in October. The biggest acceleration of 8.3 percentage points was noted in MIMAROPA (6.5% from -1.8%).
A double digit annual inflation rate of 12.5 percent was recorded in the index of fruits and vegetables from 5.0 percent. Annual price gains in the index for eggs were also higher at 5.7 percent in November from 5.3 percent in October; fish, 5.3 percent from 5.2 percent; meat, 4.9 percent from 3.8 percent; and miscellaneous foods, 2.7 percent from 2.2 percent.
The annual price hikes in cereal preparations and dairy products index however correspondingly eased to 3.6 percent and 3.8 percent from 3.9 percent and 4.0 percent, respectively. A negative annual rate at -0.1 percent from -0.2 percent was still registered in the corn index.
Supplies of vegetables had normalized in the NCR markets as Benguet and other vegetable producing areas apparently recovered from the effects of the onslaught of the recent typhoons. Lower prices of rice and fish were also observed during the month. All these factors pushed down the heavily weighted FBT index in the area by -0.4 percent. Thus, the month-on-month inflation rate in NCR decelerated to 0.2 percent in November from 1.0 percent in October. On the other hand, price gain in the FLW index was higher at 2.6 percent from -0.1 percent; services items, 0.7 percent from -0.3 percent; and miscellaneous items, 0.2 percent from 0.1 percent. Prices of clothing items moved up at its October rate of 0.1 percent while that for H&R items remained stable as the group’s index had a zero growth from 0.4 percent.
Prices in AONCR went up to 0.7 percent in November from 0.4 percent in October as price increases of the heavily weighted FBT index hit 1.2 percent from 0.6 percent. Upward adjustments in the prices of FLW and services items were also higher at 1.0 percent and 0.2 percent, respectively from their corresponding previous month’s rates of 0.4 percent and -0.2 percent. Price hikes in miscellaneous items index slowed to 0.1 percent from 0.2 percent while that for H&R items remained at 0.1 percent.
Prices were generally higher in all the regions in AONCR during the month. The highest month-on-month inflation rate was in Ilocos at 2.0 percent while the lowest rate of 0.2 percent was in Eastern Visayas and Caraga.
Among the three big areas of the country, price increases were higher in Luzon area compared from those of Visayas and Mindanao areas.
Prices at the national level generally grew by 0.6 percent in November, the same rate recorded in October. Price add-ons in clothing items were higher at 0.2 percent in November from 0.1 percent in October; FLW items, 1.5 percent from 0.2 percent; and services items, 0.4 percent from -0.3 percent. On the other hand, slower price increments were posted in FBT items at 0.8 percent from 1.1 percent and H&R and miscellaneous items, 0.1 percent from 0.2 percent.
The index of fruits and vegetables in AONCR increased by 7.1 percent in November from 4.5 percent in October. This was brought about by the limited volume of deliveries of vegetables in the markets in the early part of the month due to lower production of vegetables from the vegetable supplying provinces affected by typhoon “Pepeng.” Thus, prices of vegetables in most of the regions went up during the month. Moreover, prices of selected fruits were also higher in some regions. On the contrary, the index of fruits and vegetables in NCR dropped by -6.7 percent from 21.1 percent as Benguet and other major vegetables producing areas were now able to bring supplies to NCR. As supply of vegetables normalized in NCR markets together with the low consumer demand of vegetables, the index in the area reflected a decline. The offsetting trends of the index in AONCR and NCR resulted to a slower rate of 3.5 percent in the national index for fruits and vegetables from 8.4 percent in October.
Despite of the price control of the government on chicken and pork, their reported supply tightness primarily raised their prices in the markets. Thus, the meat index further went up in the three areas: Philippines, 1.4 percent from 1.0 percent; NCR, 2.3 percent 2.0 percent; and AONCR, 1.0 percent from 0.6 percent.
With upward price adjustments in sugar and selected spices and seasonings, the miscellaneous foods index in the Philippines and AONCR advanced by 0.4 percent and 0.6 percent, respectively from their corresponding last month’s rates of 0.3 percent and 0.4 percent. Meanwhile, price reductions in some spices and seasonings pushed down the miscellaneous foods index in NCR by -0.2 percent from 0.1 percent last month.
Prices of rice were higher in nine regions. Hence, the aggregate index for rice in the Philippines and AONCR were up by 0.4 percent from -0.4 percent and -0.5 percent, respectively. On the contrary, prices of rice in NCR generally declined by -0.2 percent from 0.1 percent.
A bigger demand for fish was observed during the month as consumers shifted from meat to fish. The unfavorable weather conditions that generally prevailed in the southern part of the country resulted to difficulty in catching fish species. These factors contributed to the increment in the fish index in the Philippines and AONCR correspondingly at 0.4 percent and 0.5 percent from 0.2 percent. Prices for fish in NCR however decreased by -0.4 percent from 0.4 percent as deliveries from the other provinces not affected by typhoons during the month brought enough supply in the NCR markets.
Higher prices of native cakes, flour and flour products resulted to upticks in the cereal preparations index in the three areas by 0.2 percent.
Price hikes in kerosene and LPG raised the FLW index in the three areas: Philippines, 1.5 percent from 0.2 percent; NCR, 2.6 percent from -0.1 percent; AONCR, 1.0 percent from 0.4 percent.
With the general upward price adjustments in gasoline and diesel, the services index in the Philippines and NCR correspondingly gained by 0.4 percent and 0.7 percent from -0.3 percent and in AONCR, 0.2 percent from -0.2 percent. Increases in the prices of medicines and other medical and health goods were also noted in selected regions including NCR.
The miscellaneous items index in the Philippines and AONCR went up by 0.1 percent and in NCR, 0.2 percent as prices for selected items for household operations and personal care and effects were higher in some regions including NCR.
Month-on-Month Inflation Rates, All Items |
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| November | October | |
| Philippines | 0.6 | 0.6 |
| NCR | 0.2 | 1.0 |
| AONCR | 0.7 | 0.4 |
CONSUMER PRICE INDEX
(2000=100)
NOVEMBER 2009
By Region, Year-on-Year
By Commodity Group, Year-on-Year
By Region, Month-on-Month
By Commodity Group, Month-on-Month
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: December 4, 2009