Month-on-Month Growth Rates

The month-on-month movement in the seasonally adjusted CPI for all items recorded a zero growth in April from 0.1 percent in March. This can be attributed to the offsetting growths among the commodity groups. Higher monthly increments were noted in the indices of clothing and footwear at 0.4 percent and health at 0.3 percent both from 0.2 percent. On the other hand, the index for housing, water, electricity, gas and other fuels further declined by 0.2 percent from -0.1 percent. Slower monthly rates were also posted in alcoholic and beverages index at 0.6 percent from 1.7 percent and restaurant and miscellaneous goods and services index, 0.2 percent from 0.3 percent. Movement in the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house; recreation and culture and education remained at their respective last month’s rates of 0.2 percent, 0.1 percent and 0.4 percent.

Seasonal factors such as the production of selected goods for the graduation season and the higher demand for construction materials during the summer season pushed up the indices for all items; alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; and restaurant and miscellaneous goods and services relative to the expected trend. These seasonal factors however did not raise the indices of health, recreation and culture and education during the month while it did not affect the indices for clothing and footwear and furnishing, household equipment and routine maintenance of the house.

In NCR, the seasonally adjusted CPI for alcoholic beverages and tobacco grew by 0.7 percent in April from 0.5 percent in March. In contrast, the non-food index dropped by 0.1 percent from a positive growth of 0.1 percent and transport index, -0.7 percent from -0.5 percent. The rate of change in the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house and education moved at 0.1 percent and 0.3 percent, respectively.

The production of some goods for the graduation season and the high demand for construction materials during the period pushed up the indices for alcoholic beverages and tobacco, non-food and transport relative to the expected trend. The indices for furnishing, household equipment and routine maintenance of the house and education were however pushed down by these seasonal factors.

The growth of the seasonally adjusted CPI for the following commodity groups went up during the reference period: housing, water, electricity, gas and other fuels (0.1% from -0.2%); health (0.3 % from 0.2%); recreation and culture (0.1% from zero growth); and restaurant and miscellaneous goods and services (0.3% from 0.2%). Meanwhile, a slower monthly gain was seen in alcoholic beverages and tobacco index at 0.7 percent from 1.9 percent and clothing and footwear index, 0.2 percent from 0.3 percent. The seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house retained its last month’s rate of 0.2 percent and education, 0.4 percent.

In AONCR, the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; and furnishing, household equipment and routine maintenance of the house were pushed up by the seasonal factors such as the production of goods for the graduation season and the observed higher demand for construction materials during the summer months. On the contrary, these seasonal factors did push down the recreation and culture and education indices in the area while no effects were noticed in the indices of health and restaurant and miscellaneous goods and services.