Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items moved up at a slower pace of 0.1 percent in July from 0.3 percent in June; alcoholic beverages and tobacco, 0.6 percent from 0.7 percent; and health, 0.1 percent from 0.2 percent. On the other hand, increment was higher in housing, water, electricity, gas and other fuels index at 0.3 percent from 0.2 percent. In addition, education index went up 0.2 percent from a negative rate of 1.2 percent. The indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; recreation and culture; and restaurant and miscellaneous goods and services retained their last month’s rate of 0.2 percent.

The lean month of July pushed up 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; and restaurant and miscellaneous goods and services.

In NCR, the seasonally adjusted CPI for alcoholic beverages and tobacco gained 0.9 percent in July from 0.6 percent in June and education, 0.2 percent from -0.7 percent. From a zero growth last month, the indices for non-food and furnishing, household equipment and routine maintenance of the house likewise inched up 0.2 percent and 0.1 percent, respectively. Meanwhile, the transport index had a zero growth from a decline of 0.1 percent in the previous month.

The lean month of July raised the indices for alcoholic beverages and tobacco; non-food; transport; and education relative to the expected trend. This seasonal factor, however, generally had no effect on furnishing, household equipment and routine maintenance of the house index.

The month-on-month increase in the seasonally adjusted CPI for alcoholic beverages and tobacco in AONCR slowed down to 0.6 percent in July from 0.7 percent in June. Moreover, increments in the indices of housing, water, electricity, gas and other fuels and restaurant and miscellaneous goods and services both decelerated to 0.2 percent from 0.4 percent. On the other hand, education index inched up 0.1 percent from -1.1 percent. Movements in the indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; and health remained at 0.3 percent while that for recreation and culture index still recorded a zero growth during the month.

Relative to the expected trend, the lean month of July pushed up 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; and education. On the contrary, this seasonal factor did not affect the index for restaurant and miscellaneous goods and services.