Month-on-Month Growth Rates

The month-on-month growth rate of the seasonally adjusted CPI for all items in the country went up to 0.4 percent in February from 0.2 percent in January. From 0.1 percent gain in January, the indices of recreation and culture and restaurant and miscellaneous goods and services correspondingly rose 0.3 percent and 0.2 percent in February. On the other hand, a negative monthly adjustment of 0.5 percent was noticed in housing, water, electricity, gas and other fuels index from a positive monthly growth of 0.3 percent. Moreover, slowdowns were recorded in the indices of alcoholic beverages and tobacco, 8.6 percent from 10.2 percent; furnishing, household equipment and routine maintenance of the house, 0.2 percent from 0.3 percent; and education, 0.3 percent from 0.4 percent. The same previous month’s rate of 0.2 percent was noted in the indices of clothing and footwear and health.

Seasonal factors such as the production of goods in preparation for the graduation season did not push up the indices for all items; 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 in the country relative to the expected trend. This seasonal factor however raised the alcoholic beverages and tobacco index during the month.

On a monthly basis, the seasonally adjusted CPI in NCR for alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house correspondingly improved to 3.2 percent and 0.6 percent from 6.0 percent and 0.7 percent, respectively. Meanwhile, the non-food index declined by 0.3 percent and transport index, -0.1 percent while education index retained its last month’s rate of 0.3 percent.

The production of goods in preparation for the graduation season pushed down the indices in non-food; furnishing, household equipment and routine maintenance of the house; and education in NCR. On the other hand, the indices for the alcoholic beverages and tobacco and transport were pushed up by this seasonal factor.

In AONCR, a slower monthly hike was observed in alcoholic beverages and tobacco index at 9.4 percent in February from 10.9 percent in January. In addition, the seasonally adjusted CPI for the following commodity groups eased during the month: clothing and footwear and restaurant and miscellaneous goods and services, 0.2 percent from 0.4 percent; recreation and culture, 0.2 percent from 0.3 percent; and education, 0.3 percent from 0.4 percent. On the contrary, monthly movement in furnishing, household equipment and routine maintenance of the house index dropped by 0.1 percent from 0.2 percent while that for health index remained at its last month’s rate of 0.2 percent. The seasonally adjusted CPI for housing, water, electricity, gas and other fuels index registered a zero growth during the month.

The indices of 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 were pushed down by the production of goods in preparation for the graduation season. This seasonal factor however, pushed up the index for alcoholic beverages and tobacco in the area.