Month-on-Month Growth Rates

The seasonally adjusted CPI for all items at the national level retained its November rate of 0.6 percent in December. Higher monthly rates were noted in housing, water, electricity, gas and other fuels index at 1.5 percent from 0.9 percent; and in the indices of clothing and footwear and health, 0.4 percent from 0.3 percent. Meanwhile, slower monthly gains were seen in the corresponding indices of alcoholic beverages and tobacco and recreation and culture at 0.3 percent and 0.1 percent from 0.7 percent and 0.2 percent, respectively. The same previous month’s rates were recorded in the rest of the commodity groups during the period.

The seasonal factor like higher demand for selected items due to the holiday season generally pushed down 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; education; restaurant and miscellaneous goods and services relative to the expected trend.

In NCR, the seasonally adjusted CPI for transport went up 0.9 percent in December from 0.3 percent in November; and alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house, 0.3 percent from 0.2 percent. Movement in the non-food index eased to 0.6 percent from 0.7 percent while that for education index remained at its last month’s rate of 0.3 percent.

Generally, heavier demand for some commodities during the Christmas season did not push up the indices of alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; transport and education relative to the expected trend.

The month-on-month growth rate of the seasonally adjusted CPI in AONCR for housing, water, electricity, gas and other fuels rose 1.4 percent in December from 0.8 percent in November and health, 0.5 percent from 0.3 percent. Slower monthly increases were observed in the indices of alcoholic beverages and tobacco (0.1% from 1.0%); and furnishing, household equipment and routine maintenance of the house and restaurant and miscellaneous goods and services (0.2% from 0.3%). The monthly change in the indices of recreation and culture and education remained at their respective last month’s rates of 0.2 percent and 0.3 percent.

The festive season brought bigger demand for selected goods during the month. This seasonal factor however did not raise the indices for 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; education; and restaurant and miscellaneous goods and services relative to the expected trend.