Summary Inflation Report Consumer Price Index (2006=100) : November 2016

Reference Number: 

2016-164

Release Date: 

Tuesday, December 6, 2016

Year-on-Year Inflation Rates, All Items
  November 2016 October 2016 November 2015 Year-to-date
  Philippines        
     Headline 2.5 2.3 1.1 1.7
     Core 2.4 2.3 1.8 1.8
  NCR        
     Headline 2.0 2.1 1.0 1.1
  AONCR        
    Headline 2.6 2.4 1.1 1.9

  • The country’s annual headline inflation increased to 2.5 percent in November 2016.  It was posted at 2.3 percent a month ago and 1.1 percent in November 2015.  This was attributed to higher annual increments registered in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas, and other fuels; and transport. (Table 8)

  • Excluding selected food and energy items, core inflation picked up 2.4 percent in November 2016. Last month, it was recorded at 2.3 percent and in November 2015, 1.8 percent.

    • On the other hand, Inflation in NCR decelerated to 2.0 percent in November 2016.  It was pegged at 2.1 percent last month and 1.0 percent in November 2015. The heavily-weighted food and non-alcoholic beverages index posted slower annual increase with the index for housing, water, electricity, gas, and other fuels; and transport registering negative annual rates.

    • Following the same trend at the national level, inflation in Areas Outside NCR (AONCR) accelerated 2.6 percent in November 2016.  Last month, it rose by 2.4 percent and in November 2015, 1.1 percent. It resulted from higher annual growths noted in the indices of alcoholic beverages and tobacco; housing, water, electricity, gas, and other fuels; transport; and education. (Table 8)

     

    Year-on-Year Inflation Rates in the Philippines, All Items
    January 2011 - November 2016
    (2006=100)

    Month

    Year

    2011 2012 2013 2014 2015 2016
    January

    4.0

    4.0

     3.1  4.2 2.4 1.3
    February 4.7 2.7 3.4  4.1 2.5 0.9
    March 4.9 2.6 3.2 3.9 2.4 1.1
    April 4.7 3.0 2.6 4.1 2.2 1.1
    May 4.9 3.0 2.6 4.5 1.6 1.6
    June 5.2 2.9  2.7 4.4 1.2 1.9
    July 4.9 3.2 2.5 4.9 0.8 1.9
    August 4.6 3.8 2.1 4.9 0.6 1.8
    September 4.7 3.7 2.7 4.4 0.4 2.3
    October 5.2 3.2 2.9 4.3 0.4 2.3
    November 4.7 2.8 3.3 3.7 1.1 2.5
    December 4.2 3.0 4.1 2.7 1.5  
    Average 4.6 3.2 3.0 4.1 1.4  

     

    Month-on-Month Inflation Rates, All Items
    (2006=100)
      November 2016 October 2016
      Philippines 0.6 0.2
      NCR 0.4 0.3
      AONCR 0.7 0.2

     

    • Consumer prices in the Philippines generally went up by 0.6 percent in November. This was primarily brought about by the increments in the prices of food items particularly fish, vegetables and fruits. Also contributing to the uptrend were higher charges in electricity rates and general upward adjustments in the prices of alcoholic beverages, cigarettes and petroleum products such as kerosene, LPG, gasoline and diesel.


      CONSUMER PRICE INDEX
      (2006=100)
      NOVEMBER 2016

       By Region, Year-on-Year

    • Inflation in NCR settled to 2.0 percent in November.
    • On the other hand, inflation in AONCR gained 2.6 percent in November. Eight regions recorded higher annual rates during the month. The highest annual growth was noted in Cagayan Valley at 5.3 percent while the lowest was in CALABARZON at 1.5 percent.

       By Commodity Group, Year-on-Year

    • At the country level, higher annual mark-ups were registered in the indices of alcoholic beverages and tobacco at 6.5 percent in November; housing, water, electricity, gas, and other fuels, 1.3 percent; and transport, 0.5 percent. The rest of the commodity groups either had slower annual increments or retained their previous month’s rate. (Table 8)

    • The annual movement of the food alone index in the Philippines remained at 3.5 percent in November 2016.  It was pegged at 1.7 percent in November 2015. (Table 13)

    • Annual add-ons were higher in the indices of rice at 1.4 percent; fish and oils and fats, both at 4.7 percent; and fruits, 9.4 percent. Meanwhile, the index for milk, cheese and eggs retained its previous month’s rate of    2.2 percent.  The rest of the food groups had slower annual upticks with the index for food products not elsewhere classified still posting a negative annual rate at -0.1 percent. (Table 10)

    • In NCR, annual adjustments in the indices of housing, water, electricity, gas, and other fuels and transport dropped by 0.6 percent and 0.4 percent, respectively. Moreover, a slower annual rate was seen in food and non-alcoholic beverages index at 4.9 percent.  On the other hand, annual hike in alcoholic beverages and tobacco index was higher at 5.3 percent.  Those for the rest of the commodity remained at their respective last month’s rate.

      • The annual increase of the food alone index in NCR improved to 5.2 percent.  Last month, the annual growth was 5.4 percent and in November 2015, 2.3 percent. (Table 13)

      • Slower double-digit annual growths were observed in the corresponding indices of corn and vegetable at 37.0 percent, 10.2 percent. Lower annual add-on was also noticed in the index for milk, cheese and eggs at 2.0 percent.  The rest of the food groups either had higher annual growths or retained their previous month’s rate. (Table 10)

    • In AONCR, annual inflation in alcoholic beverages and tobacco index jumped by 6.7 percent in November; housing, water, electricity, gas, and other fuels index, 2.0 percent; transport index, 0.7 percent; and education index, 1.6 percent. The rest of the commodity groups either exhibited slower annual increases or remained at their last month’s rate. (Table 8)
      • The annual change in the food alone index in AONCR accelerated by 3.1 percent in November. Its annual growth was 3.0 percent last month and 1.6 percent in November 2015. (Table 13)

      • Annual adjustment in rice index further moved up by 1.3 percent.  Faster annual rates were noticed in five regions. Moreover, Ilocos Region and Cagayan Valley both recorded an annual growth of 0.4 percent from their corresponding previous month’s rates of -1.3 percent and zero growth. The highest annual increment was seen in Central Visayas at 4.9 percent while the lowest was in Western Visayas at -0.7 percent.

      • Higher annual gains were posted in the indices of fish at 4.1 percent; oils and fats, 4.3 percent; and fruits, 7.7 percent.  The rest of the food groups either had lower annual growths or retained their previous month’s rate except for the index of food products not elsewhere classified which continued to register negative annual rate. (Table 10)

       By Region, Month-on-Month

  • In NCR, prices of consumer items advanced by 0.4 percent in November.  Last month, the rate stood at 0.3 percent. This was brought about by higher increase noted in the index of alcoholic beverages and tobacco at 0.4 percent. In addition, the index for housing, water, electricity, gas, and other fuels rose   0.1 percent from -0.2 percent last month.  The rest of the commodity groups either retained their previous month’s rate or had a zero growth.

  • Similarly, consumer prices in AONCR picked up 0.7 percent in November.  A month ago, it was pegged at 0.2 percent.  Higher monthly growths were seen in the indices of food and non-alcoholic beverages at 1.0 percent; alcoholic beverages and tobacco, 1.4 percent; housing, water, electricity, gas, and other fuels, 0.5 percent; furnishing, household equipment and routine maintenance of the house, 0.2 percent; and transport, 0.3 percent.  The index for education also rose 0.1 percent from a zero growth last month.  Meanwhile, the index for clothing and footwear moved at a slower pace of     0.1 percent. The rest of the commodity groups either retained their last month’s rate or had a zero growth.

  • Monthly gains were higher in nine regions with Cagayan Valley recording the highest rate of 3.0 percent.  Meanwhile, the lowest rate of -0.1 percent was both posted in Northern Mindanao and SOCCSKSARGEN. (Table 7)

  • Among the three big areas of the country, price hikes in consumer items in Luzon were generally faster compared to Visayas and Mindanao areas.

  •    By Commodity Group, Month-on-Month

    • The higher upward movement registered in the heavily-weighted food and non-alcoholic beverages index at 1.0 percent primarily pushed up the general level of the country’s consumer prices by 0.6 percent in November. Moreover, faster upticks were noticed in the indices of alcoholic beverages and tobacco at 1.3 percent and housing, water, electricity, gas, and other fuels, 0.4 percent. The education index also inched up 0.1 percent from a zero growth last month. Meanwhile, the increment in clothing and footwear index slowed down to 0.1 percent. The rest of the commodity groups either remained at their previous month’s rates or had a zero growth.

      • The damaged caused by typhoon “Lawin” that hit the vegetable-producing provinces limited supplies of vegetables, thereby increasing their prices in the markets.  Thus, the vegetables index in NCR jumped by 5.2 percent and in AONCR, 7.2 percent. The group’s national index accelerated 6.9 percent.

      • Limited fishing trips of fisherman due to unfavorable weather conditions during the month lowered supplies of selected fish species in the markets. This factor raised the fish index in AONCR by 1.4 percent. In NCR, the group’s index also moved up but at a slower pace of 1.2 percent. At the national level, fish index picked up 1.4 percent.

      • The fruit index in NCR escalated by 1.3 percent and in AONCR, 1.6 percent. Off-season fruits such as mango, avocado and lanzones exhibited higher prices during the month.  For the Philippines, the fruit index climbed by 1.5 percent.

      • The index for food products not elsewhere classified index in NCR went up by 0.7 percent and in AONCR, 0.6 percent. This was brought about by higher prices of selected spices and condiments during the month. The group’s index at the country level increased by 0.6 percent.

      • Add-ons in the prices of fresh meat such as beef and chicken pushed up the meat index in NCR by 0.5 percent. On the contrary, the group’s index in AONCR declined by 0.1 percent due to lower prices of beef, chicken and pork. At the national level, the group’s index inched up    0.1 percent.

    • Charges in the electricity rates were higher in many provinces during the month. Prices of LPG, kerosene and selected construction materials also moved upward in NCR and in many provinces. Thus, the index for housing, water, electricity, gas, and other fuels in NCR went up 0.1 percent and in AONCR, 0.5 percent. For the Philippines, the group’s index rose 0.4 percent.

    • Upticks in the prices of alcoholic beverages and cigarettes in many provinces effected the 0.4 percent growth recorded in alcoholic beverages and tobacco index in NCR and 1.4 percent in the AONCR. At the country level, it picked up by 1.3 percent.

    • The general upward price adjustments in gasoline and diesel primarily raised the transport index in NCR by 0.2 percent and in AONCR, 0.3 percent.  Higher ship fares were also noted in many provinces.  At the national level, the group’s index advanced by 0.2 percent.

    Note:

     CPIs and inflation rates by province and selected city are  also available upon request at Philippine Statistics Authority, Economic Sector Statistics Service, Price Statistics Division (Telephone Number: 376-19-59).

     

     

     

     

     

     

           (Sgd) LISA GRACE S. BERSALES, Ph.D.
    National Statistician and Civil Registrar General        


     

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