Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items and furnishing, household equipment and routine maintenance of the house both went up at a slower pace of 0.1 percent in January from their corresponding last month’s rates of 0.3 percent and 0.2 percent. Likewise, the increase in alcoholic beverages and tobacco index decelerated to 0.3 percent from 0.5 percent. From 0.4 percent growth last month, the indices of clothing and footwear and housing, water, electricity, gas and other fuels correspondingly declined by 0.1 percent and 0.2 percent. The indices for health and education retained their respective last month’s rates of 0.1 percent and 0.3 percent while the indices for recreation and culture and restaurant and miscellaneous goods and services had a zero growth.

Seasonal factor like the practice of implementing business changes at the start of the year did not push up the indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; recreation and culture; and education. This seasonal factor, however, raised the health index during the month. The indices for all items; clothing and footwear; furnishing, household equipment and routine maintenance of the house; and restaurant and miscellaneous goods and services were not affected by this seasonal factor.

Compared to last month, the seasonally adjusted CPI for alcoholic beverages and tobacco in NCR picked up by 0.4 percent in January from 0.1 percent and furnishing, household equipment and routine maintenance of the house, 0.1 percent from zero growth. On the other hand, the non-food index decreased by 0.3 percent from 0.1 percent and transport index, -0.7 percent from -0.1 percent. Movement in education index remained at 0.4 percent.

The indices for alcoholic beverages and tobacco; non-food; transport; and education were not pushed up by the seasonal factor such as the practice of implementing business changes at the beginning of the year. Meanwhile, this seasonal factor did not affect the index for furnishing, household equipment and routine maintenance of the house.

In AONCR, the month-on-month change of the seasonally adjusted CPI for health grew by 0.4 percent in January from 0.2 percent last month. On the contrary, monthly gains decelerated in the indices of alcoholic beverages and tobacco at 0.3 percent from 0.8 percent; clothing and footwear, 0.1 percent from 0.3 percent; and furnishing, household equipment and routine maintenance of the house and recreation and culture, 0.1 percent from 0.2 percent. The indices for education and restaurant and miscellaneous goods and services retained their corresponding last month’s rates of 0.3 percent and 0.1 percent. That for the index for housing, water, electricity, gas and other fuels posted a zero growth.

Relative to the expected trend, the practice of implementing business changes at the start of the year pulled down the indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; recreation and culture; and education. This seasonal factor, however, did not affect the indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services.