Date Released: December 12, 2011
CONSUMER PRICE INDEX
for BOTTOM 30% INCOME HOUSEHOLDS
(2000=100)
THIRD QUARTER 2011
|
Third Quarter 2011 |
Second Quarter 2011 |
5.2 |
5.4 |
|
NCR |
3.6 |
4.6 |
AONCR |
5.2 |
5.4 |
Likewise, inflation in NCR eased to 3.6 percent in the third quarter from 4.6 percent in the second quarter of 2011. Slower annual growths in FBT, FLW and services indexes contributed to the downtrend.
Inflation in Areas Outside the National Capital Region (AONCR) decelerated to 5.2 percent in the third quarter from 5.4 percent in the second quarter of 2011 brought about by the lower annual increments in FBT and FLW indexes.
|
Third Quarter 2011 |
Second Quarter 2011 |
0.4 |
1.3 |
|
NCR |
-0.8 |
1.5 |
AONCR |
0.4 |
1.3 |
The quarter-to-quarter inflation for the bottom 30% income households in the Philippines further improved to 0.4 percent in the third quarter from 1.3 percent in the second quarter of 2011. The downtrend primarily resulted from the declines in LPG and kerosene in most of the regions including NCR. Price reductions in sugar and common spices and seasonings in many regions including NCR were also noted. Prices of rice, pork and fish similarly decreased in NCR during the quarter.
Year-on-Year Inflation Rates in the Philippines, All Items
First Quarter 2007 - Third Quarter 2011
Quarter |
Year |
||||
2007 |
2008 |
2009 |
2010 |
2011 |
|
First Quarter |
3.5 |
6.8 |
12.4 |
4.2 |
4.6 |
Second Quarter |
2.8 |
14.3 |
5.4 |
3.5 |
|
Third Quarter |
2.7 |
19.4 |
0.2 |
3.7 |
|
Fourth Quarter |
4.0 |
15.2 |
3.4 |
3.2 |
|
Average |
3.2 |
13.9 |
5.1 |
3.6 |
|
- By Region, Year-on-Year
Inflation in NCR continued to move at a slower rate of 3.6 percent in the third quarter from 4.6 percent in second quarter of 2011.
Likewise, inflation in AONCR improved to 5.2 percent during the quarter from 5.4 percent in the second quarter of 2011 as eleven regions posted lower inflation rates. The lowest average inflation for the third quarter was in MIMAROPA at 3.2 percent while the highest was still in Northern Mindanao at 9.6 percent.
- By Commodity Group, Year-on-Year
The quarterly year-on-year growth in the FBT index in the Philippines at 5.0 percent in the third quarter 2011 was lower than its previous quarter rate of 5.3 percent and in FLW index, 11.4 percent from 11.6 percent. Meanwhile, quarterly annual inflation was higher in the clothing index at 2.9 percent from 2.5 percent; housing and repairs (H&R), 2.3 percent from 2.2 percent; services, 4.4 percent from 3.8 percent; and miscellaneous items, 2.1 percent from 1.9 percent.
In NCR, the annual increase in the FBT index eased to 2.8 percent in the third quarter of 2011 from 3.7 percent in the previous quarter; FLW, 8.9 percent from 11.7 percent; and services, 3.9 percent from 4.2 percent. Annual inflation for clothing and miscellaneous items index were however correspondingly higher at 1.0 percent and 1.3 percent from their previous quarter’s rates of 0.7 percent and 1.1 percent. The annual rate in the H&R index remained at 2.5 percent.
In AONCR, the annual growth in the FBT index slowed down to 5.0 percent in the third quarter of 2011 from 5.3 percent in the second quarter and FLW, 11.5 percent from 11.7 percent. The rest of the commodity groups have higher annual inflation rates.
Inflation in the heavily-weighted food alone index at the national level slid to 5.0 percent during the third quarter from 5.3 percent in the second quarter of 2011 due to the 6.9 percentage points slowdown in the annual uptick of the miscellaneous foods index (2.5% from 9.4%). While the annual inflation for rice, eggs and fruits and vegetables indexes remained at their respective previous quarter’s rates of 2.8 percent, 2.9 percent and 7.8 percent, the other food groups have higher annual rates.
The annual increment for the food alone index in NCR was slower at 2.6 percent in the third quarter from 3.6 percent in the second quarter of 2011.
The annual hike in miscellaneous foods index decelerated to 4.1 percent from 6.4 percent. Moreover, the quarterly annual rate in the rice index decreased by -2.2 percent from 2.2 percent and eggs, -0.5 percent from 1.7 percent. The rest of the food groups posted higher annual growth rates.
Inflation for the food alone index in AONCR decelerated to 5.0 percent in the third quarter of 2011 from 5.4 percent in the second quarter.
The annual change in fruits and vegetables index was lower at 7.8 percent compared to 7.9 percent in the second quarter and in the miscellaneous foods index at 2.5 percent from 9.4 percent.
The annual rate of increase in the rice index was however higher at 3.0 percent from 2.8 percent. Twelve regions posted higher annual inflation with the biggest jump of 1.3 percentage points noted in CALABARZON (1.7% from 0.4%). The rest of the food groups displayed higher annual rates except in eggs index whose annual growth remained at 3.0 percent.
- By Region, Quarter-to-Quarter
Compared to a quarter ago level, prices of consumer items in NCR generally declined by -0.8 percent in the third quarter 2011 from its previous quarter growth of 1.5 percent. The FBT and FLW indexes correspondingly dropped by -0.4 percent and -3.8 percent from their respective last quarter’s rates of 0.3 percent and 7.7 percent. The rest of the commodity groups have slower quarterly price changes except in clothing index whose rate was still at 0.4 percent.
Prices of consumer items in the bottom 30% income group in AONCR went up at a slower rate of 0.4 percent in the third quarter from 1.3 percent in the second quarter of 2011 due to the -0.2 percent drop in the FLW index. Lower upticks recorded in all the commodity groups also contributed to the downtrend.
Except in Central Luzon and MIMAROPA, all the regions registered either lower or negative quarterly rates. The biggest slowdown of 2.2 percentage points (0.1% from 2.3%) was noticed in Western Mindanao.
Among the three big areas of the country, price gains in the consumer items on a quarterly basis were generally slower in Visayas compared to Luzon and Mindanao.
- By Commodity Group, Quarter-to-Quarter
Measured from a quarter ago level, increases in the prices of items for this particular group of consumers in the Philippines further decelerated to 0.4 percent in the third quarter from 1.3 percent in the second quarter of 2011. All the commodity groups posted lower quarterly growth rates with FLW index recording a decline of -0.3 percent from 4.5 percent.
The FLW index in the Philippines dropped by -0.3 percent from 4.5 percent; NCR, -3.8 percent from 7.7 percent and in AONCR, -0.2 percent from 4.5 percent. This was attributed to the declines in the prices of LPG and kerosene in most of the regions including NCR. Moreover, prices of firewood and charcoal also went down in NCR.
With higher prices of clothing items and footwear, the index for clothing in the Philippines rose by 0.8 percent; AONCR, 0.7 percent; and in NCR, 0.4 percent.
The H&R index in the Philippines and AONCR grew by 0.5 percent; and in NCR, 0.1 percent brought about by the price hikes in selected construction materials.
The services index in the Philippines moved up by 1.3 percent, NCR 0.4 percent; and in AONCR, 1.2 percent. Increased charges for medical services in selected regions including NCR were generally observed during the quarter.
Upticks in the prices of selected items for household operations and personal care and effects in some regions including NCR raised the miscellaneous items index in the Philippines by 0.6 percent; AONCR, 0.5 percent; and in NCR, 0.3 percent.
The general price reductions in NFA rice in NCR effected a -2.8 percent decline in its group’s index during the quarter. The start of the harvest season for palay in September resulted to sufficient supply of rice in the markets. Thus, the movement of the index for rice in the Philippines during the quarter improved to 0.4 percent from 1.0 percent and in AONCR, 0.5 percent from 0.9 percent. Except in MIMAROPA, Central Visayas and Northern Mindanao, all the regions have either negative or lower quarterly rates in the rice index. The lowest rate of -0.6 percent was noted in Western Visayas.
Prices of selected fish species and sea foods in NCR generally went down during the quarter. It continued to push down the group’s index in the area by -0.7 percent from -1.4 percent. Meanwhile, the weather disturbances experienced during the quarter constrained fishermen to do their usual fishing trips. This limited the supply of selected fish species in the markets in AONCR, thus raising the fish index in the area and in the national level by 0.6 percent during the quarter.
Lower prices of pork effected the -0.3 percent drop in the meat index in NCR during the quarter. On the contrary, beef, chicken, pork and canned meat were priced higher in most of the regions. Hence, the meat index in the Philippines and AONCR went up by 0.5 percent.
The miscellaneous foods index in the three areas decreased during the quarter: Philippines and AONCR, -2.8 percent and -2.9 percent from -0.1 percent; and in NCR, -1.5 percent from 1.4 percent. This was caused by the price reductions in sugar and selected spices and seasonings in many regions including NCR.
Source: National Statistics Office
Manila, Philippines
Page last updated: December 12, 2011