Month-on-Month Growth Rates

• Philippines

At the national level, the seasonally adjusted CPI for all items went up by 0.3 percent in July from -0.1 percent in June. Moreover, the indices of non-food increased by 0.4 percent from -0.2 percent and housing, water, electricity, gas and other fuels, 0.5 percent from -0.9 percent. From 0.6 percent decline, the index of education likewise picked up by 0.5 percent. Higher increments were also noticed in the indices of clothing and footwear at 0.2 percent from 0.1 percent and restaurant and miscellaneous goods and services, 0.5 percent from 0.2 percent. Meanwhile, the increase in the health index eased to 0.1 percent from 0.2 percent. Those for the indices of furnishing, household equipment and routine maintenance of the house and recreation and culture remained at 0.1 percent.

The lean month of July did not affect the indices for all items and furnishing, household equipment and routine maintenance of the house. However, this seasonal factor pushed up the indices of the following commodity groups:

• Non-food;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Health;
• Recreation and Culture;
• Education; and
• Restaurant and Miscellaneous Goods and Services
  (see Table 1).

• National Capital Region (NCR)

The monthly growth of the seasonally adjusted CPI for all items in NCR moved up by 0.8 percent in July from -0.4 percent in June. Similarly, the indices of non-food climbed by 1.7 percent from -0.8 percent; housing, water, electricity, gas and other fuels, 1.3 percent from -2.1 percent; and education, 0.2 percent from -1.0 percent. A higher monthly increase of 0.5 percent was also noticed in the health index from 0.3 percent in June. From zero growth, the index of recreation and culture likewise inched up by 0.2 percent during the month. On the other hand, alcoholic beverages and tobacco index dropped by 0.1 percent from a growth of 0.9 percent in the previous month. A negative rate of 0.1 percent was still recorded in index of food and non-alcoholic beverages during the month. Growths in the indices of clothing and footwear and restaurant and miscellaneous goods and services also remained at 0.1 percent and 1.3 percent, respectively. That for furnishing, household equipment and routine maintenance of the house had zero growth from 0.2 percent.

The lean season during the month of July pushed up the indices of the following commodity groups:

• All Items;
• Alcoholic Beverages and Tobacco;
• Non-food;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Health;
• Recreation and Culture;
• Education; and
• Restaurant and Miscellaneous Goods and Services.

This seasonal factor, however, did not raise the indices of food and non-alcoholic beverages and furnishing, household equipment and routine maintenance of the house (see Table 2).

• Areas Outside National Capital Region (AONCR)

In AONCR, the seasonally adjusted CPI for all items inched up by 0.1 percent in July from zero growth in June. Likewise, the indices for non-food and housing, water, electricity, gas and other fuels both increased by 0.1 percent from their respective previous month’s rates of -0.1 percent and -0.4 percent and clothing and footwear and education, 0.3 percent from their corresponding June rates of 0.1 percent and -0.1 percent. Meanwhile, movements in the indices of furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services remained at 0.1 percent. The transport index still registered a negative rate at 0.1 percent from -0.2 percent.

The lean month of July pushed up the indices of non-food; furnishing, household equipment and routine maintenance of the house; health; and education relative to the expected trend. However, this seasonal factor had no effect in the indices of the following commodity groups:

• All Items;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Transport; and
• Restaurant and Miscellaneous Goods and Services
  (see Table 3).