Table 3. Consumer Price Index of Nonfood, Beverages and Tobacco Items in National Capital Region
         May 2005 to May 2006

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                  |          CPI         |         Components           | Month-on-Month Change
Year   Month      | Original  Seasonally | Seasonal   Trend             | Original   Seasonally
                  |             Adjusted |  Factors   Cycle   Irregular |              Adjusted
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2005

         May           136.3       137.0       99.5   137.1       100.0        0.3          0.8
         Jun           138.7       138.1      100.4   138.4        99.8        1.8          0.8
         Jul           140.4       140.0      100.3   139.7       100.2        1.2          1.4
         Aug           141.0       141.0      100.0   140.8       100.2        0.4          0.7
         Sep           141.1       141.6       99.7   141.8        99.9        0.1          0.4
         Oct           141.9       142.5       99.6   142.5       100.0        0.6          0.6
         Nov           143.1       143.5       99.7   143.4       100.1        0.8          0.7
         Dec           143.7       143.8       99.9   144.4        99.6        0.4          0.2

2006

         Jan           145.8       145.4      100.2   145.6        99.9        1.5          1.1
         Feb           147.7       147.0      100.5   146.8       100.1        1.3          1.1
         Mar           148.5       148.2      100.2   147.9       100.2        0.5          0.8
         Apr           148.6       148.7       99.9   148.9        99.9        0.1          0.3
         May           148.9       149.7       99.4   149.7       100.0        0.2          0.7

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Sour ce:  Economic Indices and Indicators Division
          Industry and Trade Statistics Department
          National Statistics Office
          Republic of the Philippines

Page  last updated:   June 6, 2006