FIRST QUARTER 2017
Inflation for the bottom 30% income households at the national level picked up by 2.8 percent in the first quarter of 2017. In the previous quarter, it was recorded at 2.0 percent and in the same period in 2016, 1.1 percent. This was mainly effected by the 2.8 percent annual mark-up registered in the heavily-weighted food, beverages and tobacco (FBT) index. Moreover, higher annual increments were posted in the indices of fuel, light and water (FLW) at 6.1 percent and services, 1.5 percent. On the other hand, the annual growth of the clothing index slowed down to 0.8 percent while movements in the indices of housing and repairs (H&R) and miscellaneous remained at their corresponding previous quarter’s rates of 2.0 percent and 1.0 percent. (Table 7)
The year-on-year growth of the food alone index in the Philippines climbed by 2.7 percent in the first quarter of 2017. It was pegged at 2.2 percent in the previous quarter and 1.4 percent in the first quarter of 2016. (Table 12)
Higher annual gains were seen in the indices of rice at 1.0 percent; corn, 2.4 percent; eggs, 3.7 percent; fish, 5.0 percent; meat, 1.4 percent; and miscellaneous foods, 1.1 percent. The rest of the food groups had slower annual rates. (Table 8)
|Year-on-Year Inflation Rates in the Philippines, All Items
1st Quarter 2009 - 1st Quarter 2017
National Capital Region (NCR)
Similarly, inflation in NCR went up by 5.4 percent in the first quarter of 2017. Inflation in the previous quarter was observed at 3.6 percent and in the first quarter of 2016, 1.3 percent. Faster annual increases were noticed in the indices of FBT at 5.5 percent; clothing, 1.7 percent; and miscellaneous, 3.5 percent. Moreover, the annual growths in the indices of FLW climbed by 8.9 percent and services, 1.4 percent after registering negative annual rates of 1.7 percent and 0.1 percent, respectively. The annual growth of H&R index remained at 0.5 percent during the quarter. (Table 7)
On an annual basis, the food alone index in NCR accelerated by 5.5 percent during the quarter. Annual adjustment was pegged at 5.1 percent in the previous quarter and 1.1 percent in the same period in 2016. (Table 12)
The index of fruits and vegetables continued to post a double-digit annual rate of 19.0 percent during the quarter. In addition, higher annual upticks were seen in the indices of dairy products at 2.1 percent; eggs, 9.3 percent; fish, 8.8 percent; meat, 3.0 percent; and miscellaneous foods, 2.6 percent. Slower double-digit annual growth was however, recorded in corn index at 26.1 percent. The indices of rice and cereal preparations likewise exhibited lower annual gains at 4.0 percent and 2.2 percent, respectively. (Table 8)
Areas Outside NCR (AONCR)
In AONCR, inflation picked up by 2.8 percent in the first quarter of 2017. In the previous quarter, the annual growth was registered at 2.0 percent and in the same quarter in 2016, 1.1 percent. This can be attributed to higher annual mark-ups observed in the indices of FBT at 2.8 percent; FLW, 6.0 percent; and services, 1.4 percent. Meanwhile, the annual hikes in the indices of clothing decelerated to 0.8 percent and miscellaneous, 0.9 percent. That for the H&R index retained its previous quarter’s growth of 2.0 percent.
Higher annual rates were posted in all the regions except in Cagayan Valley and MIMAROPA. The highest annual inflation of 5.1 percent remained in ARMM while the lowest at 0.9 percent was still noted in Western Visayas. (Table 7)
The food alone index rose by 2.7 percent during the quarter. In the previous quarter, it exhibited 2.2 percent growth and in the same period in 2016, 1.4 percent. (Table 12)
A 0.9 percent annual uptick was seen in the rice index during the first quarter of 2017 as seven regions registered higher annual mark-ups. Moerover, Caraga recorded a 0.1 percent growth after it had a 0.3 percent decrease in the previous quarter. Likewise, higher annual rate was noticed in corn index at 2.4 percent; eggs index, 3.6 percent; fish index; 5.0 percent; meat index, 1.3 percent; and miscellaneous foods index, 1.1 percent. The other food groups had slower annual increments. (Table 8)
The country’s consumer prices for the bottom 30% income households climbed by 1.0 percent in the first quarter of 2017. In the previous quarter, it was registered at 0.8 percent. Faster rates were noted in the indices of H&R at 1.0 percent and FLW, 2.9 percent. Moreover, the indices of services and miscellaneous both went up by 0.3 percent. The indices of FBT and clothing retained their corresponding previous quarter’s rates of 0.9 percent and 0.1 percent.
Higher quarter-on-quarter growths were noticed in nine regions. The highest rate of 1.7 percent was seen in Bicol Region while the lowest at 0.2 percent was observed in CAR.
The uptrend was brought about by upward adjustments in the prices of LPG and kerosene and increased charges in electricity rates in many regions. In addition, higher rental rates of dwelling units and upward adjustments in the salaries of carpenters and electricians were noted in many provinces. Higher charges for selected medical and personal services and price upticks in some items for household operations and personal effects in many provinces were also recorded during the quarter. (Table 9)
Note: Monthly CPIs for the bottom 30% income households by province and selected cities are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).