|
|
SUMMARY INFLATION REPORT
CONSUMER PRICE INDEX
(2006=100)
SEPTEMBER AND AUGUST 2012
Year-on-Year Inflation Rates, All Items |
|
September 2012 |
August 2012 |
Year-to-date |
| Philippines |
|
|
|
| Headline |
3.6 |
3.8 |
3.2 |
| Core |
3.8 |
4.3 |
3.8 |
| NCR |
|
|
|
| Headline |
3.5 |
4.4r |
3.0 |
| AONCR |
|
|
|
| Headline |
3.7 |
3.6 |
3.2 |
Year-on-year headline inflation in
the Philippines decelerated to 3.6 percent in September from 3.8 percent in August. Slower
annual gains were posted in the clothing and footwear index; housing, water, electricity,
gas and other fuels index; health index; and in the restaurant and miscellaneous goods and
services index. Inflation a year ago was 4.7 percent.
Excluding selected food and energy
items, core inflation eased to 3.8 percent in September from 4.3 percent in August.
Inflation in the National Capital
Region (NCR) settled to 3.5 percent in September from 4.4 percent in August. This was due
to improved annual hikes in food and non-alcoholic beverages index; housing, water,
electricity, gas, and other fuels index; and recreation and culture index.
Annual inflation in Areas Outside
NCR (AONCR) however inched up to 3.7 percent in September from 3.6 percent in August.
Annual upticks were higher in the following indices: food and non-alcoholic beverages;
transport; communication; and recreation and culture.

Year-on-Year Inflation Rates in the
Philippines, All Items
January 2007 -
September 2012 |
Month |
Year |
| 2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
January |
3.8 |
4.6 |
7.1 |
3.9 |
4.0 |
4.0 |
February |
2.9 |
5.1 |
7.2 |
3.9 |
4.7 |
2.7 |
March |
2.6 |
5.8 |
6.7 |
3.9 |
4.9 |
2.6 |
April |
2.6 |
7.3 |
5.6 |
4.0 |
4.7 |
3.0 |
May |
2.7 |
8.2 |
4.3 |
3.9 |
4.9 |
2.9 |
June |
2.6 |
9.4 |
3.2 |
3.6 |
5.2 |
2.8 |
July |
2.9 |
10.2 |
2.2r |
3.8 |
4.9 |
3.2 |
August |
2.7 |
10.5 |
1.7 |
4.1 |
4.6 |
3.8 |
September |
2.9 |
10.1 |
2.3 |
3.8 |
4.7 |
3.6 |
October |
2.9 |
9.7 |
2.9r |
3.3 |
5.2 |
|
November |
3.1 |
9.1 |
3.5 |
3.7
|
4.7 |
|
December |
3.7 |
7.8 |
4.4 |
3.6 |
4.2 |
|
|
|
|
|
|
|
|
|
Average |
2.9 |
8.3 |
4.1 |
3.9 |
4.6 |
|
Month-on-Month Inflation Rates, All Items |
|
Sep 2012 |
Aug 2012 |
| Philippines |
-0.1 |
0.8 |
| NCR |
-0.7 |
1.2 |
| AONCR |
0.2 |
0.6 |
Lower charges in electricity rates
in many regions primarily pushed down the countrys consumer prices by -0.1 percent
in September from 0.8 percent in August. Contributing also to the downtrend were the price
decreases in food items such as fish, cooking oil and common species and seasonings seen
in many regions together with the price declines in vegetables in NCR.
CONSUMER PRICE INDEX
(2006=100)
SEPTEMBER 2012
By Region,
Year-on-Year
In AONCR, annual inflation went up to 3.7 percent in September from
3.6 percent in August as 13 regions recorded higher annual rates during the month. The
biggest gain of 0.9 percentage point was in Cagayan Valley (4.2% from 3.3%). The highest
annual rate of 7.3 percent was still observed in Central Visayas while the lowest annual
inflation of 1.7 percent remained in Davao region.
By
Commodity Group, Year-on-Year
Slower year-on-year inflation at the national level was
posted in clothing and footwear index at 5.0 percent in September from 5.2 percent in
August; housing, water, electricity, gas and other fuels index, 4.5 percent from 5.6
percent; health index, 3.0 percent from 3.1 percent; and restaurant and miscellaneous
goods and services index, 3.2 percent from 3.3 percent. The other commodity groups
registered higher annual hikes or retained their last months rate.
The annual adjustment of the food alone index in the
Philippines picked up to 3.6 percent in September from 3.3 percent in August.
The vegetables index had a 9.9 percent annual increase
in September from 7.4 percent in August. Moreover, the annual adjustment in rice index
climbed 1.2 percent from 1.0 percent; corn index, 4.1 percent from 3.3 percent; sugar,
jam, honey, chocolate and confectionery index, 2.5 percent from -0.6 percent; and food
products not elsewhere classified index, 2.7 percent from 1.7 percent. On the contrary,
annual change in oils and fats index further dropped by -4.9 percent from -4.6 percent.
Movements in the other food groups were slower or remained at their last months
rate.
In NCR, annual uptick in food and non-alcoholic
beverages index decelerated to 4.3 percent in September from 4.9 percent in August;
housing, water, electricity, gas, and other fuels index, 3.0 percent from 5.5 percent; and
recreation and culture index, 4.8 percent from 4.9 percent. The rest of the commodity
groups either recorded faster annual increases or retained their respective last
months rate.
The annual hike in the food alone index in NCR eased to
4.3 percent in September from 5.0 percent in August.
All the food groups either registered slower annual
additions or had annual declines except in rice index whose annual rate was higher at 2.3
percent from 1.9 percent; meat index, 2.9 percent from 2.0 percent; and food products not
elsewhere classified index, 1.9 percent from 0.9 percent.
In AONCR, higher annual gains were seen in four
commodity groups namely food and non-alcoholic beverages; transport; communication; and
recreation and culture. On the other hand, annual add-ons in the rest of the commodity
groups either decelerated or remained at their previous months rate.
The annual growth in the food alone index in AONCR
escalated to 3.4 percent in September 2.9 percent in August.
With 10 regions recording higher annual hikes in the
rice index, the groups index in AONCR rose 1.1 percent in September from 0.9 percent
in August. The biggest jump of 1.1 percentage points was noted in Bicol region (0.8% from
-0.3%).
A higher annual mark-up was also observed in the corn
index at 4.1 percent in September from 3.3 percent in August; vegetables index, 8.2
percent from 3.9 percent; sugar, jam, honey, chocolate and confectionery index, 3.1
percent from -0.1 percent; and food products not elsewhere classified index, 2.9 percent
from 1.9 percent. The rest of the food groups had slower annual add-ons or had annual
declines.
By Region, Month-on-Month
Prices of consumer items in NCR on the average went
down by -0.7 percent in September from 1.2 percent in August. This was due to the -0.1
percent reduction in food and non-alcoholic beverages index from an increase of 2.3
percent last month and that of housing, water, electricity, gas, and other fuels index,
-2.6 percent from 1.3 percent. Moreover, increments in clothing and footwear index slowed
to 0.1 percent from 0.5 percent and furnishing, household equipment and routine
maintenance of the house and transport indices, 0.8 percent from 1.7 percent and 0.9
percent, respectively. While the index for alcoholic beverages and tobacco retained its
last months rate, the rest of the commodity groups had zero growths.
Adjustments in the prices in AONCR likewise improved to
0.2 percent in September from 0.6 percent in August as housing, water, electricity, gas,
and other fuels index declined by -0.5 percent from 0.6 percent. In addition, monthly
gains in the following commodity groups decelerated: food and non-alcoholic beverages
index; alcoholic beverages and tobacco index; health index; and transport index.
Meanwhile, the other commodity groups either had slower monthly upticks or retained their
last months rate. A zero growth was still observed in communication and education
indices.
Compared with August, negative rates were seen in
CALABARZON and SOCCSKSARGEN. Eight regions had slower monthly mark-ups while Zamboanga
Peninsula posted zero growth. The lowest rate at -0.3 percent was noted in CALABARZON.
Price movements in Luzon were slower compared to
Visayas and Mindanao.
By
Commodity Group, Month-on-Month
At the national level, consumer prices generally
decreased by -0.1 percent in September from 0.8 percent in August. This was effected by
the -1.1 percent drop in the index for housing, water, electricity, gas, and other fuels.
Improved monthly increases were also posted in four commodity groups. On the other hand,
adjustment in restaurant and miscellaneous goods and services inched up 0.1 percent from
zero percent. That for communication, recreation and culture and education indices was
zero while health and transport indices retained their respective last months figure
of 0.1 percent and 0.6 percent.
The vegetables index in NCR dropped by -3.1 percent in
September from a double-digit growth of 21.0 percent in August. The downward price trend
in vegetables can be attributed to their sufficient supplies in the markets brought about
by the improved favorable weather conditions which boosted production of vegetables during
the month. On the contrary, prices of vegetables in many regions in AONCR went up during
the month. Thus, the groups index in the area soared to 5.3 percent from 3.7
percent. These different price movements resulted to a 3.7 percent growth in the national
index, slower than the 6.5 percent gain last month.
The increments in the prices of banana and papaya and
some fruits that were out of season in selected regions raised the fruits index in the
Philippines by 1.0 percent; NCR, 2.6 percent; and AONCR, 0.5 percent.
With nine regions having positive growths in the rice
index, the AONCRs aggregate index for rice registered a 0.1 percent increase during
the month from 0.4 percent in August. Prices of rice in NCR likewise picked up 0.8 percent
from 1.3 percent. Hence, the national index posted a 0.2 percent gain from 0.5 percent
last month.
Uptick in milk, cheese and egg index in the three areas
was 0.1 percent as prices of milk and milk products in selected regions generally went up
during the month.
Price movements in sugar decelerated in most of the
regions. Hence, growth in the indices for sugar, jam, honey, chocolate and confectionery
in the Philippines and AONCR was pegged at 0.2 percent from 1.4 percent and 1.3 percent,
respectively and in NCR, 0.1 percent from 2.2 percent.
Supply of aquaculture fish such as
milkfish and tilapia and selected marine fish species like anchovy, round scad and other
sea foods were sufficient during the month thereby pushing down their prices in the
markets. The fish index in the Philippines dropped by -0.4 percent from 1.5 percent; NCR,
-1.3 percent from 2.4 percent; and AONCR, -0.3 percent from 1.4 percent.
The continuous price reductions in
cooking oil primarily effected a -0.7 percent decline in the oils and fats index in the
Philippines; -0.4 percent in NCR; and -0.8 percent in AONCR.
With lower charges for electricity rates in many
regions, the index for housing, water, electricity, gas, and other fuels in the
Philippines dropped by -1.1 percent in September from 0.8 percent in August; NCR, -2.6
percent from 1.3 percent; and AONCR, -0.5 percent from 0.6 percent.
The general upward adjustments in the prices of
gasoline and diesel nationwide pushed up the transport index at the national level by 0.6
percent; NCR, 0.8 percent; and AONCR, 0.5 percent.
The index of furnishing, household equipment and
routine maintenance of house in the Philippines and AONCR picked up by 0.2 percent and
NCR, 0.8 percent as prices of selected kitchen utensils and articles of cleaning generally
increased during the month.
NOTE:
The second phase survey report from Zamboanga
Sibugay was not received as of October 4, 2012.
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: October 5, 2012
|