Date Released: January 5, 2010
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2000=100)
DECEMBER AND NOVEMBER 2009
Year-on-Year Inflation Rates, All Items |
|||
| December | November | Year-to-date | |
| Philippines | |||
| Headline | 4.4 | 2.8 | 3.2 |
| Core | 3.2 | 2.7 | 4.1 |
| NCR | |||
| Headline | 4.0 | 2.0 | 1.6 |
| AONCR | |||
| Headline | 4.5 | 3.1 | 3.9 |
The country's year-on-year headline inflation rate advanced to 4.4 percent in December from 2.8 percent in November. This was effected by the uptick in the annual inflation rate in the heavily weighted food, beverages and tobacco (FBT) index. Higher annual price gains in the indices of fuel, light and water (FLW) and services were also noted during the month. Inflation a year ago was 8.0 percent.
The average annual headline inflation rate in the Philippines for the year 2009 was 3.2 percent, slower by 6.1 percentage points than the 9.3 percent in 2008.
Excluding selected food and energy items, core inflation picked up to 3.2 percent in December from 2.7 percent in November. The annual average core inflation rate was 4.1 percent in 2009, lower than the 6.2 percent in 2008.
Likewise, annual inflation rate in the National Capital Region (NCR) jumped to 4.0 percent in December from 2.0 percent in November due to the higher annual price movements in FLW and services index. The annual average inflation in the area for 2009 was 1.6 percent compared to 6.9 percent posted a year ago.
Inflation rate in Areas Outside the National Capital Region (AONCR) accelerated to 4.5 percent in December from 3.1 percent in November as higher annual rates were recorded in all the commodity groups except for housing and repairs (H&R) and miscellaneous items. Average inflation for the year at 3.9 percent was slower than the 10.4 percent in 2008.
The general level of consumer prices went up at 0.6 percent in December, the same rate recorded in November. Higher prices of fish, meat and meat products, LPG, kerosene, gasoline and diesel mainly contributed to the uptick.
The annual inflation rate in NCR rose to 4.0 percent in December from 2.0 percent in November.
Annual inflation rate in AONCR moved up to 4.5 percent in December from 3.1 percent in November. Higher annual inflation rates were registered in the regions with the biggest jump of 3.1 percentage points posted in Autonomous Region in Muslim Mindanao (ARMM) (6.5% from 3.4%). The highest inflation rate was noticed in Cagayan Valley and ARMM at 6.5 percent while the lowest rate was still in Central Visayas at 2.7 percent.
Among the regions in AONCR, the highest annual average inflation rate at 5.5 percent in 2009 was recorded in Eastern Visayas while Central Visayas posted the lowest annual average inflation at 2.7 percent.
At the national level, higher annual price increments were noted in the FBT index at 5.2 percent in December from 4.8 percent in November; FLW, 7.6 percent from -1.1 percent; and services, 3.5 percent from 0.2 percent. On the other hand, annual price additions were correspondingly slower in the indices of clothing and miscellaneous items at 2.0 percent and 1.8 percent from 2.1 percent and 1.9 percent, respectively. Annual price gain in H&R index remained at 2.1 percent for four consecutive months.
Annual inflation rate for food alone in the Philippines picked up to 5.3 percent in December from 4.9 percent in November.
Annual price adjustment in the index of rice increased to 4.1 percent in December from 3.2 percent in November; corn, 1.3 percent from 0.1 percent; meat, 7.4 percent from 5.9 percent; and miscellaneous foods, 3.8 percent from 3.1 percent. Meanwhile, annual price hike in the index of cereal preparations decelerated to 2.9 percent from 3.0 percent; dairy products, 3.3 percent from 3.4 percent; eggs, 5.9 percent from 6.1 percent; fish, 5.1 percent from 5.3 percent; and fruits and vegetables, 11.8 percent from 13.7 percent.
The annual average inflation for food alone in 2009 was slower at 6.0 percent from 13.6 percent in 2008.
The 2009 annual average rates in the indices of FLW and services were negative at -2.6 percent and -0.2 percent, respectively from their last year’s rates of 6.5 percent and 8.6 percent. Moreover, annual average inflation rate in FBT index eased to 5.8 percent from 12.9 percent; clothing, 2.5 percent from 4.2 percent; H&R, 2.9 percent from 4.3 percent; and miscellaneous items, 2.6 percent from 2.9 percent.
In NCR, the annual inflation rates for FLW and services index jumped to 4.7 percent and 3.3 percent in December from their respective November rates of -3.7 percent and -1.6 percent. Annual inflation for FBT and miscellaneous items index however slid to 5.6 percent and 1.4 percent, respectively from their corresponding last month’s growth rates of 5.8 percent and 1.6 percent while that for clothing and H&R index remained at 1.2 percent and 2.1 percent, respectively.
Annual inflation for food alone in NCR continued to move at a slower pace of 5.8 percent in December from 6.1 percent in November.
The annual price increase in the dairy products index slipped to 2.0 percent in December from 2.3 percent in November; eggs, 6.7 percent from 7.4 percent; fish, 2.5 percent from 4.8 percent; and fruits and vegetables, 16.0 percent from 17.9 percent. On the other hand, annual inflation in the index of rice was higher at 3.0 percent from 2.5 percent; corn, 16.0 percent from 11.0 percent; meat, 8.9 percent from 8.3 percent; and miscellaneous foods, 4.3 percent from 4.2 percent. Annual growth rate for cereal preparations index remained at 1.5 percent.
The annual average inflation rate of food alone in 2009 slowed to 5.2 percent from 10.5 percent in 2008.
Negative annual average inflation rates were correspondingly registered in FLW and services index in NCR at -1.4 percent and -4.0 percent in 2009 from their respective last year’s rates of 2.8 percent and 9.5 percent. Moreover, annual average inflation for FBT and clothing index improved to 5.1 percent and 1.5 percent, respectively from their corresponding last year’s rates of 10.1 percent and 5.1 percent. On the contrary, annual average inflation for H&R and miscellaneous items index were correspondingly higher at 2.8 percent and 2.2 percent from 2.5 percent and 1.9 percent, respectively.
In AONCR, annual inflation in the FBT index gained 5.1 percent in December from 4.6 percent in November; clothing, 2.4 percent from 2.3 percent; FLW, 9.2 percent from 0.3 percent; and services, 3.7 percent from 1.3 percent. Annual inflation in H&R and miscellaneous items index remained at 2.1 percent and 1.9 percent, respectively.
In AONCR, annual price increments of food items climbed to 5.2 percent in December from 4.7 percent in November.
Annual price gains in the index of rice were higher in eleven regions with the biggest jump of 5.5 percentage points seen in ARMM (5.2% from -0.3%).
Annual price increments were also higher in corn index at 1.1 percent from -0.1 percent; fish, 5.7 percent from 5.3 percent; meat, 6.7 percent from 4.9 percent; and miscellaneous foods, 3.5 percent from 2.7 percent. On the other hand, annual price uptick in cereal preparations index slowed down to 3.5 percent from 3.6 percent; eggs, 5.6 percent from 5.7 percent; and fruits and vegetables, 10.6 percent from 12.5 percent. Annual growth rate of dairy products index remained at 3.8 percent.
The 2009 average inflation of the food alone group was slower at 6.2 percent from 14.6 percent in 2008.
All the commodity groups in AONCR have lower annual average inflation rates in 2009 compared with 2008. Annual average inflation for FBT was posted at 6.1 percent in 2009 from 13.8 percent in 2008; clothing, 3.0 percent from 3.9 percent; H&R, 2.9 percent from 5.7 percent; FLW, -3.2 percent from 8.5 percent; services, 2.0 percent from 8.0 percent; and miscellaneous items, 2.7 percent from 3.3 percent.
The month-on-month inflation in NCR went up to 0.6 percent in December from 0.2 percent November brought about by the higher rates in the indices of FBT and services. Their corresponding rates were 0.3 percent and 1.4 percent from their respective last month’s growths of -0.4 percent and 0.7 percent. Moreover, upward price adjustment in H&R index at 0.1 percent from zero growth also contributed to the uptrend. Price addition was however slower in FLW index at 1.5 percent from 2.6 percent while that for clothing and miscellaneous items generally remained stable as they recorded a zero growth from 0.1 percent and 0.2 percent, respectively,
Prices in AONCR moved up at slower pace of 0.5 percent in December from 0.7 percent in November as price increases in FBT items decelerated to 0.4 percent from 1.2 percent. On the other hand, price uptick in FLW index was higher at 2.8 percent from 1.0 percent; services, 0.6 percent from 0.2 percent; and miscellaneous items, 0.2 percent from 0.1 percent. Price hikes in clothing and H&R index correspondingly remained at 0.2 percent and 0.1 percent.
Compared to last month, nine regions posted lower monthly growth rates in December with the lowest still noted in Ilocos at -0.2 percent. ARMM registered the highest rate of 2.0 percent during the month.
Among the three big areas of the country, monthly upward price adjustment was fastest in Mindanao compared to Luzon and Visayas.
Movements in the general level of consumer prices remained at 0.6 percent in December. Price gain in FLW index was higher at 2.4 percent from 1.5 percent; services, 0.9 percent from 0.4 percent; and miscellaneous items, 0.2 percent from 0.1 percent. Slower price increases were however noted in the indices of FBT and clothing at 0.4 percent and 0.1 percent, respectively from their corresponding last month’s rates of 0.8 percent and 0.2 percent. Price add-on in the H&R index remained at 0.1 percent.
Heavy deliveries of vegetables in the markets in many regions including NCR lowered their prices during the month. Thus, the index of fruits and vegetables in the Philippines dropped by -2.0 percent from 3.5 percent; NCR, -3.5 percent from -6.7 percent; and AONCR, -1.6 percent from 7.1 percent.
The sufficient supply of rice resulting from the on-going harvest of palay slightly pulled down the rice index in the Philippines and AONCR by -0.1 percent from 0.4 percent. Meanwhile, the index in NCR rose to 0.1 percent from -0.2 percent.
Prices of eggs in the Philippines went up by 0.4 percent; NCR, 0.7 percent; and AONCR, 0.3 percent. Lower production of eggs due to the cold weather conditions that prevailed during the month limited its supply in the markets.
Bigger demand for meat and meat products during the holiday season pushed up prices of meat in the Philippines and AONCR by 2.0 percent and in NCR by 2.3 percent.
The difficulty in catching fish species during the cold weather conditions lowered the volume of fish supply in the markets. This factor raised the fish index in the three areas: Philippines, 0.9 percent from 0.4 percent; NCR, 1.6 percent from -0.4 percent; and AONCR, 0.8 percent from 0.5 percent.
The miscellaneous foods index in the Philippines grew by 0.5 percent; NCR, 0.1 percent; and AONCR, 0.6 percent due to the continued price increments in sugar and selected spices and seasonings.
Upward adjustments in the prices of kerosene and LPG raised the FLW index in the Philippines by 2.4 percent; NCR, 1.5 percent; and AONCR, 2.8 percent.
The increase in the services index in the Philippines was at 0.9 percent from 0.4 percent; NCR, 1.4 percent from 0.7 percent; and AONCR, 0.6 percent from 0.2 percent; This was due to the continued price hikes in gasoline and diesel.
Movement in the H&R index in the three areas was pegged at 0.1 percent due to higher prices of selected construction materials.
Month-on-Month Inflation Rates, All Items |
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| December | November | |
| Philippines | 0.6 | 0.6 |
| NCR | 0.6 | 0.2 |
| AONCR | 0.5 | 0.7 |
CONSUMER PRICE INDEX
(2000=100)
DECEMBER 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: January 5, 2010