Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items at the national level retained its February rate of 0.1 percent in March. Mixed movements in the growths among the commodity groups were observed during the month. The education index posted a higher rate of 0.4 percent in March from 0.3 percent in February and restaurant and miscellaneous goods and services index, 0.2 percent from a zero growth. On the other hand, slower monthly gains were observed in clothing and footwear index at 0.1 percent from 0.3 percent; housing, water, electricity, gas and other fuels index, 0.2 percent from 0.6 percent; and furnishing, household equipment and routine maintenance of the house and health indices, 0.1 percent from 0.2 percent. The index of alcoholic beverages and tobacco maintained its negative rate at -0.6 percent from -0.9 percent. From 0.1 percent, a zero growth was noticed in the recreation and culture index.

The graduation season brought higher demand for some goods during the month. This seasonal factor raised the indices of alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels. However, this seasonal factor pushed down the indices for all items; health; recreation and culture; education; and restaurant and miscellaneous goods and services while it did not affect the indices of clothing and footwear and furnishing, household equipment and routine maintenance of the house.

In NCR, the seasonally adjusted CPI for alcoholic beverages and tobacco and transport correspondingly declined by 0.1 percent and 0.2 percent in March from their respective February rates of -0.3 percent and 1.3 percent. The education index retained its last month’s rate of 0.4 percent while the indices for non-food and furnishing, household equipment and routine maintenance of the house remained stable as they registered a zero growth.

Relative to the expected trend, the indices for alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; and transport were pushed up by the seasonal factor that is, the production of selected goods for the graduation season. On the contrary, the education index was pushed down by this seasonal factor.

In AONCR, a faster rate of 0.4 percent was recorded in the indices of housing, water, electricity, gas and other fuels and education in March from their last month’s growth of 0.3 percent. On the other hand, the alcoholic beverages and tobacco index went down by 0.1 percent from -0.4 percent. The increment in clothing and footwear index eased to 0.1 percent from 0.4 percent and furnishing, household equipment and routine maintenance of the house index, 0.2 percent from 0.3 percent. The same previous month’s rate of 0.1 percent was seen in the indices of health and restaurant and miscellaneous goods and services while a zero growth was noted in recreation and culture index during the month.

The alcoholic beverages and tobacco index was pushed up by the seasonal factor like the bigger production of some commodities for the graduation season. However, this seasonal factor did not raise the indices of housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and education. The indices for clothing and footwear and restaurant and miscellaneous goods and services were not affected by this seasonal factor relative to the expected trend.