Date Released: November 4, 2011
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2006=100)
OCTOBER AND SEPTEMBER 2011
Year-on-Year Inflation Rates, All Items |
|||
| Oct 2011 | Sep 2011 | Year-to-date | |
| Philippines | 5.2 | 4.8 | 4.8 |
| NCR | 4.9 | 4.2 | 4.1 |
| AONCR | 5.3 | 5.0 | 5.0 |
The country’s annual headline inflation rate accelerated to 5.2 percent in October from 4.8 percent in September. This was due to higher annual increments in food and non-alcoholic beverages; alcoholic beverages and tobacco; and housing, water, electricity, gas and other fuels indices. Inflation a year ago was 3.3 percent.
Similarly, annual inflation in NCR went up to 4.9 percent in October from 4.2 percent in September. It resulted from higher annual increases in the indices of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and health.
Annual inflation in Areas Outside the National Capital Region (AONCR) picked up to 5.3 percent in October from 5.0 percent in September as higher annual upward adjustments were registered in food and non-alcoholic beverages; alcoholic beverages and tobacco; and in housing, water, electricity, gas and other fuels indices.
Year-on-Year Inflation Rates in the Philippines, All Items January 2007 - October 2011 |
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Month |
Year |
||||
| 2007 | 2008 | 2009 | 2010 | 2011 | |
January |
3.8 |
4.6 |
7.0 |
3.9 |
4.1 |
|---|---|---|---|---|---|
February |
2.9 |
5.1 |
7.2 |
3.9 |
4.7 |
March |
2.6 |
5.9 |
6.5 |
4.0 |
4.8 |
April |
2.6 |
7.3 |
5.6 |
4.0 | 4.7 |
May |
2.6 |
8.3 |
4.4 |
3.7 | 5.1 |
June |
2.7 |
9.4 |
3.1 |
3.7 | 5.2 |
July |
2.9 |
10.2 |
2.1 |
3.7 | 5.1 |
August |
2.7 |
10.5 |
1.7 |
4.0 | 4.7 |
September |
2.9 |
10.1 |
2.2 |
3.9 | 4.8 |
October |
2.9 |
9.7 |
2.8 |
3.3 | 5.2 |
November |
3.1 |
9.0 |
3.6 |
3.7 | |
December |
3.8 |
7.7 |
4.5 |
3.6 | |
Average |
2.9 |
8.3 |
4.1 |
3.8 | |
Month-on-Month Inflation Rates, All Items |
||
| Oct 2011 | Sep 2011 | |
| Philippines | 0.3 | 0.2 |
| NCR | 0.6 | 0.2 |
| AONCR | 0.3 | 0.1 |
Price hikes in the heavily weighted food items such as fish, fruits, vegetables and selected spices and seasonings were observed in Luzon and Visayas. It brought about a 0.3 percent growth in prices of consumer items at the national level. Price gains in alcoholic beverages, cigarettes and selected items for personal care in many regions including NCR were also noted during the month.
CONSUMER PRICE INDEX
(2006=100)
OCTOBER 2011
By Region, Year-on-Year
The annual inflation in NCR advanced 4.9 percent in October from 4.2 percent in September.
Annual inflation in AONCR likewise went up to 5.3 percent in October from 5.0 percent in September as nine regions recorded higher inflation rates. The highest annual rate was still in ARMM at 6.9 percent while the lowest inflation was in Central Visayas at 3.0 percent.
By Commodity Group, Year-on-Year
The country’s annual rate of increment in the heavily weighted food and non-alcoholic beverages index was faster at 5.7 percent in October from 5.0 percent in September; alcoholic beverages and tobacco, 6.2 percent from 6.1 percent; and housing, water, electricity, gas and other fuels, 6.5 percent from 5.7 percent. On the other hand, the annual inflation for transport index decelerated to 6.7 percent from 7.1 percent.
The annual gain in the food alone index at the national level rose to 5.8 percent in October from 5.2 percent in September.
A double-digit annual increase was still posted in the vegetables index at 19.9 percent in October from 10.7 percent in September and corn, 12.7 percent from 11.5 percent. The annual gain was also higher in the fish index at 8.5 percent from 7.8 percent; milk, cheese and egg, 2.9 percent from 2.8 percent; fruits, 7.2 percent from 6.6 percent; and food products not elsewhere classified, 3.2 percent from 2.9 percent.
Except for meat index whose annual add-on remained at 2.8 percent, the rest of the food groups registered either slower or negative rates.
In NCR, the annual inflation in food and non-alcoholic beverages index picked up to 5.5 percent in October from 4.7 percent in September; housing, water, electricity, gas, and other fuels, 6.8 percent from 4.8 percent; and health, 3.3 percent from 3.2 percent. On the other hand, the annual gain in alcoholic beverages and tobacco index was slower at 2.7 percent from 2.8 percent and transport, 7.2 percent from 7.7 percent. The annual changes for the rest of the commodity groups remained at their respective September rates.
The annual growth in the food alone index in NCR accelerated to 5.8 percent in October from 4.9 percent in September.
The annual increase in the vegetables index at 34. 3 percent in October was more than double the growth rate of 17.1 percent recorded in September. The annual increment in the milk, cheese and egg index was also higher at 2.2 percent from 2.0 percent; fruits, 3.9 percent from 3.1 percent; and food products not elsewhere classified, 2.2 percent from 0.6 percent.
In AONCR, a higher annual gain was posted in food and non-alcoholic beverages and tobacco index at 5.7 percent in October from 5.1 percent in September; alcoholic beverages and tobacco, 6.9 percent from 6.8 percent and in housing, water, electricity, gas, and other fuels index at 6.3 percent from 6.1 percent. Meanwhile, slower annual rates were recorded in furnishing household equipment and routine maintenance of the house index, 3.1 percent from 3.2 percent and in transport index, 6.6 percent from 6.9 percent.
The annual inflation for the food alone index in AONCR climbed by 5.8 percent in October from 5.2 percent in September.
A double-digit annual growth was registered in the vegetables index at 17.2 percent in October from 9.5 percent in September and corn, 13.5 percent from 12.2 percent. In addition, the annual uptick in the meat index was also higher at 2.7 percent from 2.5 percent; fish, 9.0 percent from 8.1 percent; milk, cheese and egg, 3.1 percent from 3.0 percent; fruits, 8.1 percent from 7.6 percent; and food products not elsewhere classified, 3.5 percent from 3.4 percent.
With nine regions posting slower rates, the annual increase in the rice index further decelerated to 3.6 percent in October from 3.8 percent in September. The biggest annual decrease of 3.0 percentage points was still seen in SOCCSKSARGEN (0.5% from 3.5%).
The annual hike in oils and fats index was also slower at 24.2 percent from 28.9 percent while that for sugar, jam, honey, chocolate and confectionery index further decreased to -14.6 percent from -13.4 percent.
By Region, Month-on-Month
The 1.9 percent jump in the food and non-alcoholic beverages index in NCR primarily pushed up the month-on-month inflation in the area by 0.6 percent in October from 0.2 percent in September. Higher increases in the indices for health and restaurants and miscellaneous goods and services at 0.1 percent from zero growth were also noted during the month. On the other hand, the transport index dropped by -0.1 percent from 0.2 percent while the alcoholic beverages and tobacco index moved at its September rate of 0.1 percent, The rest of the commodity groups registered zero growth during the month.
Prices of consumer items in AONCR likewise went up to 0.3 percent in October from 0.1 percent in September. Faster rates were correspondingly noted in food and non-alcoholic beverages and alcoholic beverages and tobacco indexes at 0.6 percent and 0.3 percent from 0.1 percent. A decline was however observed in housing, water, electricity, gas and other fuels index at -0.1 percent from 0.2 percent. The rest of the commodity groups recorded either slower rates or zero monthly growth.
Nine regions registered higher monthly rates. The highest was in Cagayan Valley at 1.5 percent while the lowest at -0.3 percent was in Davao.
Among the three big areas of the country, price upticks in consumer items in Luzon were higher compared to Visayas and Mindanao areas.
By Commodity Group, Month-on-Month
Compared to September 2011, consumer prices at the national level increased 0.3 percent in October. Movements in the food and non-alcoholic beverages and alcoholic beverages and tobacco indexes were correspondingly higher at 0.8 percent and 0.3 percent in October from 0.1 percent in September. On the contrary, the transport index declined by -0.1 percent from 0.1 percent. The rates in furnishing, household equipment and routine maintenance of the house and health indexes remained at 0.1 percent and 0.2 percent, respectively.
Supplies of vegetables significantly dropped in the markets after the two typhoons (Pedring and Quiel) hit the major vegetable producing areas in Luzon in the latter part of September until the early part of October, thus, raising prices of vegetables in the markets. The vegetables index in NCR registered a double-digit monthly growth of 22.5 percent in October from 3.1 percent in September. In AONCR, the group’s index accelerated 5.2 percent from 1.1 percent. The national index jumped 7.9 percent from a growth of 1.4 percent last month.
The difficulty in catching fish species brought about by the inclement weather condition particularly in areas hit by the two typhoons resulted to lower supplies in the markets. Hence, the fish index in the Philippines gained 0.8 percent from zero growth; NCR, 1.6 percent from 1.2 percent; and AONCR, 0.6 percent from -0.1 percent.
The off-season fresh fruits particularly mango were continuously priced higher during the month. The fruits index in Philippines and AONCR went up by 1.4 percent and in NCR, 1.7 percent. These were however slower than their corresponding last month’s rates of 2.4 percent, 2.2 percent and 3.3 percent.
With the upward price adjustments in common spices and seasonings, the food products not elsewhere classified index in the Philippines rose by 0.4 percent in October from -1.2 percent in September; NCR, 1.3 percent from -1.1 percent; and AONCR, 0.2 percent from -1.3 percent.
The continuous enough supplies of beef and pork in the markets pushed down their prices during the month. Hence, the meat index still posted a negative monthly rate of -0.1 percent in the Philippines and -0.4 percent in NCR. The meat index in AONCR however grew by 0.1 percent due to price hikes in beef and chicken.
The low-priced NFA rice in NCR pulled down the index for rice in the area by -0.6 percent. On the other hand, the index for rice in AONCR moved up by 0.1 percent as nine regions posted positive growths during the month with the highest rate of 1.3 percent posted in Central Luzon. These mixed price trends resulted to a zero growth in the rice index at the national level.
The restaurants and miscellaneous goods and services index in the Philippines and NCR increased by 0.1 percent and in AONCR, 0.2 percent. This was effected by the upward adjustments in the prices in selected items for personal care in many regions including NCR.
Higher prices of alcoholic beverages and cigarettes raised the index for alcoholic beverages and tobacco by 0.3 percent in the Philippines and AONCR and 0.1 percent in NCR.
With price increments in medicines, the health index in the Philippines and AONCR went up by 0.2 percent and in NCR, 0.1 percent.
The index for housing, water, electricity, gas and other fuels in AONCR went down by -0.1 percent due to lower charges for electricity rates and price decreases in LPG and kerosene in many provinces. Meanwhile, higher charges for electricity rates in NCR were offset by the general downward price adjustments in LPG and kerosene. Hence, the group’s index in the area and in the Philippines posted a zero growth during the month.
The general price rollbacks in gasoline and diesel pushed down the index for transport in the Philippines and NCR by -0.1 percent. The group’s index in AONCR however had a zero growth during the month as mixed price trends in gasoline products were registered in the regions.
NOTE:
The survey reports from Sulu were not received as of November 4, 2011.
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
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