Date Released: January 5, 2012
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2006=100)
DECEMBER AND NOVEMBER 2011
Year-on-Year Inflation Rates, All Items |
|||
| Dec 2011 | Nov 2011 | Year-to-date | |
| Philippines | 4.2 | 4.8 | 4.8 |
| NCR | 3.0 | 3.5 | 4.0 |
| AONCR | 4.5 | 5.1 | 5.0 |
The country’s year-on-year headline inflation rate continued to decelerate as it settled to 4.2 percent in December from 4.8 percent in November. All the commodity groups except furnishing, household equipment and routine maintenance of the house; recreation and culture; and education indexes posted either slower annual increment or negative annual rate during the month. Inflation a year ago was 3.6 percent.
The average annual headline inflation rate at the national level for the year 2011 was higher at 4.8 percent compared to 3.8 percent in 2010.
The index in the National Capital Region (NCR) followed the same trend as its year-on-year inflation further slowed down to 3.0 percent in December from 3.5 percent in November. This was brought about by the slower annual increases in the indexes of food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity gas and other fuels; and transport. The indexes of communication and recreation and culture still posted negative annual rates. The annual average inflation in the area for 2011 was 4.0 percent from 3.7 percent in 2010.
In Areas Outside NCR (AONCR), annual inflation likewise eased to 4.5 percent in December from 5.1 percent in November. The downtrend was due to the slower annual gains in food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; health; transport; and restaurants and miscellaneous goods and services indexes and the negative annual adjustment in communication index. The average inflation for the year at 5.0 percent was higher by 1.2 percentage points than the 3.8 percent registered in 2010.
Year-on-Year Inflation Rates in the Philippines, All Items January 2007 - December 2011 |
|||||
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 | 4.8 |
December |
3.8 |
7.7 |
4.5 |
3.6 | 4.2 |
Average |
2.9 |
8.3 |
4.1 |
3.8 | 4.8 |
Month-on-Month Inflation Rates, All Items |
||
| Dec 2011 | Nov 2011 | |
| Philippines | - 0.2 | 0.4 |
| NCR | - 0.2 | 0.3 |
| AONCR | - 0.1 | 0.4 |
Consumer prices dropped by -0.2 percent in December from 0.4 percent in November. This was primarily due to the reductions in the prices of the heavily weighted food items such as rice, cooking oil, vegetables and sugar in NCR and in many regions in AONCR. The general downward adjustments in the prices of gasoline and diesel nationwide along with the decreases in the charges for electricity rates in NCR also contributed to the overall decline in the month-on-month inflation rate.
CONSUMER PRICE INDEX
(2006=100)
DECEMBER 2011
By Region, Year-on-Year
The annual inflation in NCR further slowed down to 3.0 percent in December from 3.5 percent in November.
In AONCR, it likewise decelerated to 4.5 percent in December from 5.1 percent in November as thirteen regions posted slower annual inflation rates. The lowest annual inflation at 2.4 percent was observed in Cagayan Valley while the highest was still in ARMM at 6.9 percent.
Among the regions in AONCR, the lowest annual average inflation in 2011 was recorded in CAR at 3.2 percent while ARMM had the highest annual average inflation at 6.9 percent.
By Commodity Group, Year-on-Year
At the national level, the annual hike in food and non-alcoholic beverages index improved to 4.1 percent in December from 4.8 percent in November; alcoholic beverages and tobacco index, 6.0 percent from 6.3 percent; clothing and footwear index, 3.7 percent from 4.0 percent; housing, water, electricity, gas and other fuels index, 5.1 percent from 5.7 percent; health index, 3.0 percent from 3.1 percent; transport index, 6.0 percent from 6.6 percent; and restaurants and miscellaneous goods and services index, 3.2 percent from 3.3 percent. In addition, a negative annual rate in communication index was still observed at -0.4 percent in December. While the annual increase in furnishing, household equipment and routine maintenance of the house index was higher at 2.5 percent from 2.3 percent, those of the rest of the commodity groups remained at their previous month’s rates.
Slower annual inflation rate was observed in the food alone index in the Philippines at 4.2 percent in December from 4.8 percent in November.
Except for the corn and milk, cheese and egg indexes whose annual increments were correspondingly higher at 15.0 percent and 3.1 percent from their respective last month’s rates of 14.0 percent and 3.0 percent, the annual changes in all the food groups either decelerated or were negative during the month.
The annual average inflation for food alone index in 2011 was higher at 5.7 percent compared to 4.2 percent a year ago.
The 2011 annual average inflation rate in food and non-alcoholic beverages index was higher at 5.4 percent from 4.0 percent in 2010; alcoholic beverages and tobacco, 5.3 percent from 3.0 percent; clothing and footwear, 3.7 percent from 2.7 percent; housing, water, electricity, gas and other fuels, 5.2 percent from 5.1 percent; transport, 6.1 percent from 3.6 percent; recreation and culture, 1.4 percent from 0.6 percent; education, 4.7 percent from 4.5 percent; and restaurants and miscellaneous goods and services, 2.8 percent from 2.6 percent. On the contrary, the annual average inflation in the health index was slower at 3.2 percent in 2011 from 3.8 percent in 2010 while that for the communication index was still negative at -0.2 percent from -1.1 percent. The annual average inflation in furnishing, household equipment and routine maintenance of the house index remained at 2.5 percent.
In NCR, the annual uptick in food and alcoholic beverages index slipped to 2.2 percent in December from 2.3 percent in November; alcoholic beverages and tobacco, 2.7 percent from 2.8 percent; clothing and footwear, 2.7 percent from 3.0 percent; housing, water, electricity, gas and other fuels, 4.2 percent from 5.1 percent; and transport, 5.8 percent from 6.7 percent. Moreover, annual adjustment in communication index further dropped to -0.5 percent from -0.4 percent. The rest of the commodity groups either recorded higher annual rate or retained their previous month’s rates.
The annual add-on in the food alone index in NCR continued to decelerate at 2.2 percent in December from 2.4 percent in November.
An annual decrease was still posted in the rice index at -6.7 percent in December from -8.2 percent in November; corn, -6.4 percent from -8.9 percent; and sugar, jam, honey, chocolate and confectionery, -16.6 percent from -9.8 percent. In addition, the annual gain in the meat index improved to 1.0 percent in December from 1.7 percent in November; milk, cheese and egg, 2.0 percent from 2.2 percent; oils and fats, 33.8 percent from 40.4 percent; fruits, 5.4 percent from 5.6 percent; and food products not elsewhere classified, 2.6 percent from 3.9 percent. The rest of the food groups registered higher annual growth rates
The annual average inflation rate of the food alone group in 2011 was higher at 4.9 percent from 2.9 percent in 2010.
A higher annual average inflation was noted in food and non-alcoholic beverages index at 4.6 percent in 2011 from 2.9 percent in 2010; alcoholic beverages and tobacco, 2.8 percent from 2.3 percent; transport, 6.3 percent from 4.6 percent; education, 3.8 percent from 3.2 percent; and restaurants and miscellaneous goods and services, 3.1 percent from 1.2 percent. Meanwhile, the annual average inflation for housing, water, electricity, gas, and other fuels index was lower at 4.5 percent in 2011 from 6.6 percent in 2010; furnishing, household equipment and routine maintenance of the house, 1.2 percent from 1.9 percent; health, 3.7 percent from 4.1 percent; and recreation and culture, 0.6 percent from 0.7 percent. While the annual average inflation for clothing and footwear index remained at 3.3 percent, a negative annual average change was still seen in communication index at -0.4 percent from -1.4 percent.
In AONCR, the annual growth of food and non-alcoholic beverages index slowed down to 4.5 percent in December from 5.3 percent in November; alcoholic beverages and tobacco, 6.6 percent from 7.0 percent; clothing and footwear, 4.1 percent from 4.4 percent; housing, water, electricity, gas, and other fuels, 5.5 percent from 6.0 percent; health, 3.0 percent from 3.1 percent; transport, 6.0 percent from 6.5 percent; and restaurants and miscellaneous goods and services, 3.2 percent from 3.3 percent. While the annual gain in furnishing, household equipment and routine maintenance of the house index was higher at 3.2 percent from 3.1 percent, those for the rest of the commodity groups were either negative or at their last month’s rate.
The annual inflation for the food alone index in AONCR decelerated to 4.6 percent in December from 5.4 percent in November.
The annual increment in the rice index continued to slow down at 2.4 percent in December from 3.0 percent in November as eight regions recorded lower annual rates. Central Luzon posted the biggest decrease of 3.3 percentage points (-0.1% from 3.2%).
Improved annual growths were also seen in the meat index at 2.5 percent in December from 2.8 percent in November; fish, 8.5 percent from 8.8 percent; oils and fats, 17.3 percent from 20.6 percent; fruits, 7.6 percent from 7.7 percent; vegetables, 11.6 percent from 15.0 percent; and food products not elsewhere classified, 4.0 percent from 4.5 percent.
The annual change in sugar, jam, honey, chocolate and confectionery index continued to decline at -21.4 percent in December from -17.2 percent in November. Meanwhile, the rest of the food groups have higher annual upticks.
The 2011 annual average rate of the food alone group went up by 5.8 percent compared to 4.4 percent in 2010.
The annual average inflation for health index was slower at 3.2 percent in 2011 from 3.6 percent and restaurants and miscellaneous goods and services, 2.7 percent from 3.2 percent. A negative annual average rate was also registered in communication index at -0.2 percent from -0.9 percent. On the contrary, a higher annual average inflation was posted in food and non-alcoholic beverages index at 5.6 percent in 2011 from 4.2 percent in 2010; alcoholic beverages and tobacco, 5.9 percent from 3.1 percent; clothing and footwear, 3.8 percent from 2.5 percent; housing, water, electricity, gas, and other fuels, 5.7 percent from 4.4 percent; furnishing, household equipment and routine maintenance of the house, 3.0 percent from 2.7 percent; transport, 6.1 percent from 3.2 percent; recreation and culture, 1.7 percent from 0.6 percent; and education, 5.0 percent from 4.8 percent.
By Region, Month-on-Month
Prices of consumer items in NCR went down by -0.2 percent in December from 0.3 percent in November. This was attributed to the declines in the heavily weighted food and food and non-alcoholic beverages index at -0.2 percent in December from -0.3 percent; housing, water, electricity, gas, and other fuels, -0.7 percent from 1.3 percent; transport, -0.2 percent from -0.1 percent; and communication, -0.1 percent from zero growth. A slower monthly increment was also noted in alcoholic beverages and tobacco index at 0.1 percent from 0.2 percent while clothing and footwear and furnishing, household equipment and routine maintenance of house indexes went up by 0.1 percent from zero growth. The rest of the commodity groups either retained their last month’s rate or recorded zero growths during the month.
Prices of consumer items in AONCR decreased by -0.1 percent in December from 0.4 percent in November. A negative monthly rate was noted in the food and non-alcoholic beverages index at -0.1 percent from 0.4 percent and transport index, -0.2 percent from 0.2 percent. No movement was seen in the communication index and education index. While the recreation and culture index had a higher monthly rate of 0.2 percent from 0.1 percent, the rest of the commodity groups either retained their previous rates or registered slower monthly growths.
Twelve regions had lower monthly rates with the lowest monthly rate seen in Central Luzon at -0.4 percent. Northern Mindanao had the highest rate at 0.5 percent.
Among the three big areas of the country, prices of consumer items in Luzon generally moved slower compared to Visayas and Mindanao areas.
By Commodity Group, Month-on-Month
At the national level, prices of consumer items generally went down by -0.2 percent in December from 0.4 percent in November. The heavily weighted food and non-alcoholic beverages index dropped by -0.1 percent in December from 0.3 percent in November; housing, water, electricity, gas, and other fuels index, -0.1 percent from 0.7 percent; and transport index, -0.2 percent from 0.2 percent. A slower increase was also posted in restaurants and miscellaneous goods and services index at 0.1 percent from 0.2 percent. On the other hand, the monthly gain in furnishing, household equipment and routine maintenance of the house index was higher at 0.2 percent from 0.1 percent while those for alcoholic beverages and tobacco and clothing and footwear indexes remained at 0.2 percent and health and recreation and culture indexes, 0.1 percent. The rest of the commodity groups had zero growths.
The rice index in AONCR continued to post negative monthly growth rate of -0.2 percent and in NCR, -0.1 percent. The biggest decrease of -2.2 percent in the group’s index was seen in Central Luzon. Sufficient supply of rice in the markets brought about the downtrend, hence, the index declined by -0.2 percent at the national level.
Sufficient deliveries of vegetables in the NCR markets coming from the nearby provinces pushed down their prices during the month. Likewise, prices of vegetables also went down in many regions. Thus, the vegetables index in the Philippines decreased by -2.9 percent; NCR, -5.3 percent; and AONCR, -2.5 percent.
The national index for oils and fats dropped by -0.8 percent; NCR, -0.6 percent; and AONCR, -0.9 percent due to the continuous price cuts in cooking oil.
With the continued price reduction in sugar, the index for sugar, jam, honey, chocolate and confectionery further went down in the three areas: Philippines, -1.5 percent in December from -1.1 percent in November; NCR, -1.9 percent from -0.8 percent; and AONCR, -1.4 percent from -1.2 percent.
The price declines in common spices and seasonings primarily pushed down the index for food products not elsewhere classified and in NCR, -0.5 percent. The group’s index in AONCR had a zero growth due to the differing price movements of common spices and seasonings in the regions. The national index went down by -0.1 percent.
Higher demand for sea foods and selected fish species for the Christmas and New Year celebrations generally raised the fish index in the Philippines by 0.9 percent; NCR, 2.7 percent; AONCR, 0.5 percent.
Prices of gasoline and diesel in most of the regions were rolled back during the month. Hence, the transport index in the three areas decreased by -0.2 percent.
Lower charges for electricity rates along with the downward price adjustments in LPG and kerosene pushed down the housing, water, electricity, gas, and other fuels index in NCR by -0.7 percent. On the other hand, higher charges for electricity rates in selected regions primarily caused a 0.1 percent gain the index for housing, water, electricity, gas, and other fuels in AONCR. These mixed trends resulted to a -0.1 percent drop in the group’s index at the national level.
The clothing and footwear index in the Philippines and AONCR picked up by 0.2 percent and in NCR, 0.1 percent as selected clothing and footwear items were generally priced higher during the 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: