Summary Inflation Report Consumer Price Index (2012=100): May 2018
Release Date: June 5, 2018
The country’s annual headline inflation further accelerated to 4.6 percent in May 2018. Inflation in the previous month was observed at 4.5 percent and in May 2017, 2.9 percent.
Higher annual increases were noted in the indices of the following commodity groups:
- Alcoholic Beverages and Tobacco (20.5%);
- Furnishing, Household Equipment and Routine Maintenance of the House (2.9%);
- Transport (6.2%); and
- Restaurant and Miscellaneous Goods and Services (3.7%).
A slower annual rate was, however, recorded in food and non-alcohholic beverages index at 5.7 percent. The rest of the commodity roups retained their previous month’s growths (see Tables 3 and 4).
Excluding selected food and energy items, core inflation picked up by 3.6 percent in May 2018. In the previous month, core inflation was registered at 3.5 percent and in May 2017, 2.7 percent (see Table 9).
The annual inflation in the country’s food alone index remained at its previous month’s rate of 5.5 percent. In May 2017, it was peged at 3.1 percent (see Table 7).
Annual mark-ups were higher in the indices of corn at 13.7 percent and vegetables, 7.0 percent. In addition, the annnual change of sugar, jam, honey, chocolate and confectionery index increased by 0.6 percent from zero growth in the previous month. The rest of the food groups either registered slower annual increments or retained their previous month’s rates (see Table 5).
National Capital Region (NCR)
Inflation in NCR was, however, slower at 4.9 percent in May 2018. In the previous month, inflation was noted at 5.2 percent and in May 2017, 3.8 percent. The annual gain in the heavily-weighted food and non-alcoholic beverages index slowed down to 5.1 percent. Moreover, lower annual upticks were observed in the indices of clothing and footwear at 2.2 percent; housing, water, electricity, gas, and other fuels, 4.5 percent; and furnishing, household equipment and routine maintenance of the house, 2.9 percent. The other commodity groups either had higher annual growths or retained their previous month’s rates (see Tables 3 and 4).
Areas Outside NCR (AONCR)
Annual inflation in AONCR continued to move at a faster pace of 4.6 percent in May 2018. Inflation was pegged at 4.3 percent in the previous month and 2.7 percent in May 2017. Higher annual growth rates were registered in all the commodity groups except in the indices of communication and recreation and culture which retained their previous month’s rates of 0.3 percent and 1.5 percent, respectively.
Thirteen regions exhibited higher annual increments during the month. The highest annual rate of 6.4 percent was observed in Region V (Bicol Region) while the lowest at 2.6 percent was seen in Region III (Central Luzon) (see Table 4).
- Price survey reports from Sulu were not received as of 04 May 2018.
- Price movements of the commodities from the sample municipalities of Lanao del Sur were used to impute the prices for Marawi City for May 2018.
- Accompanying this report are the summary tables showing the inflation rates for the 2006-based CPI series and core inflation rates from January 2013 to May 2018.
- CPIs and inflation rates by province and selected city are also available upon request at Price Statistics Division (Telephone Number: 376-19-59).
FOR THE NATIONAL STATISTICIAN:
(Sgd) ROMEO S. RECIDE
(Deputy National Statistician)
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