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

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

2005

         Aug           141.0       141.1       99.9   140.8       100.2        0.4          0.9
         Sep           141.1       141.7       99.6   141.8        99.9        0.1          0.4
         Oct           141.9       142.6       99.5   142.6       100.0        0.6          0.6
         Nov           143.1       143.5       99.7   143.4       100.1        0.8          0.6
         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       146.9      100.5   146.8       100.1        1.3          1.0
         Mar           148.5       148.1      100.2   147.9       100.2        0.5          0.8
         Apr           148.6       148.6      100.0   148.8        99.9        0.1          0.3
         May           148.9       149.6       99.5   149.6       100.0        0.2          0.7
         Jun           150.7       150.1      100.4   150.2        99.9        1.2          0.3
         Jul           151.9       151.2      100.5   150.9       100.2        0.8          0.7
         Aug           151.1       151.2       99.9   151.5        99.8       -0.5          0.0

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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:   September 5, 2006