Month-on-Month Growth Rates

At the national level, the monthly growth of the seasonally adjusted CPI for all items improved to 0.2 percent in March from 0.3 percent in February. A negative monthly rate of 0.1 percent was still posted in the index for housing, water, electricity, gas and other fuels index from -0.5 percent. Slower monthly increments were likewise seen in the alcoholic beverages and tobacco index at 1.7 percent from 8.6 percent and recreation and culture index, 0.1 percent from 0.3 percent. Meanwhile, a 0.3 percent monthly gain was recorded in the indices of clothing and footwear and restaurant and miscellaneous goods and services from 0.2 percent and 0.1 percent, respectively and education index, 0.4 percent from 0.3 percent. The rate of change of the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house and health remained at 0.2 percent.

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; and education in the country relative to the expected trend. This seasonal factor however raised the alcoholic beverages and tobacco index during the month while it did not affect the index for restaurant and miscellaneous goods and services.

In NCR, the seasonally adjusted CPI for non- food index accelerated 0.1 percent from -0.4 percent. On the other hand, the transport index further declined by 0.3 percent from -0.2 percent. Moreover, slowdowns were correspondingly posted in the indices of alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house at 0.7 percent and 0.2 percent from 3.2 percent and 0.7 percent, respectively. The education index moved at its last month’s rate of 0.3 percent.

Seasonal factors such as the production of goods in preparation for the graduation season pushed up the indices for alcoholic beverages and tobacco and transport in the area. Meanwhile, the indices for furnishing, household equipment and routine maintenance of the house and education were pushed down by this seasonal factor. No effect was observed in the non-food index during the month.

The seasonally adjusted CPI for clothing and footwear and furnishing, household equipment and routine maintenance of the house in AONCR rose 0.3 percent in March from their respective last month’s rates of 0.2 percent and -0.1 percent and education, 0.4 percent from 0.3 percent. On the contrary, a negative monthly rate was still recorded in housing, water, electricity, gas and other fuels index at 0.1 percent. In addition, a slower monthly uptick was noted in alcoholic beverages and tobacco index at 2.1 percent from 9.3 percent. The seasonally adjusted CPI for health and restaurant and miscellaneous goods and services retained their last month’s rate of 0.2 percent while the recreation and culture index had 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 seasonal factor that is, 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.