Month-on-Month Growth Rates

The month-on-month growth rate of the seasonally adjusted CPI for all items went up 0.8 percent in August from 0.2 percent in July. The adjustment in the seasonally adjusted CPI for housing, water, electricity, gas and other fuels also grew to 0.7 percent from 0.6 percent and education, 0.4 percent from 0.3 percent. On the contrary, slower monthly gains were posted in the following indices: alcoholic beverages and tobacco and clothing and footwear, 0.3 percent from 0.5 percent and 0.4 percent, respectively; furnishing, household equipment and routine maintenance of the house, 0.5 percent from 0.6 percent; recreation and culture and restaurant and miscellaneous goods and services, 0.1 percent and 0.2 percent, respectively from 0.3 percent. Meanwhile, the same last month’s rate was posted in the seasonally adjusted CPI for health at 0.2 percent.

Relative to the expected trend, the lean month of August raised the indices for all items; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and education. This seasonal factor however did not affect restaurant and miscellaneous goods and services index.

The monthly uptick of the seasonally adjusted CPI in NCR for furnishing, household equipment and routine maintenance of the house picked up 1.5 percent in August from 0.8 percent in July; transport, 0.6 percent from 0.1 percent; and education, 0.4 percent from 0.2 percent. The increment in the alcoholic beverages and tobacco index however, slowed down to 0.5 percent from 0.6 percent while the adjustment in the aggregate seasonally adjusted CPI for non-food index remained at 0.6 percent.

The seasonal factors such as the low demand of goods and services during the lean month of August pushed up the indices for alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; transport; and education in the area.

In AONCR, the monthly change in the seasonally adjusted CPI for housing, water, electricity, gas and other fuels increased to 0.6 percent in August from 0.5 percent in July; recreation and culture, 0.2 percent from 0.1 percent; and education, 0.4 percent from 0.2 percent. On the other hand, the rate of increments in clothing and footwear and furnishing, household equipment and routine maintenance of the house indices eased to 0.2 percent from their corresponding previous month’s rates of 0.4 percent and 0.5 percent. The seasonally adjusted CPI for alcoholic, beverages and tobacco retained its last month’s rate of 0.4 percent and health, 0.2 percent.

The monthly hikes in the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and education in AONCR were pulled up by the seasonal factor during the month. On the contrary, the seasonal factor pulled down the monthly gain in restaurant and miscellaneous goods and services index.