Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items at the national level went up 0.7 percent in May from 0.1 percent in April. Higher monthly rates were recorded in alcoholic beverages and tobacco index at 0.7 percent in May from -0.1 percent in April and in housing, water, electricity, gas and other fuels index, 1.1 percent from 0.3 percent. In addition, a 0.2 percent growth was noticed in the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; and recreation and culture. On the other hand, the increase in restaurant and miscellaneous goods and services index eased to 0.1 percent from 0.2 percent while health and education indices retained their respective last month’s growth of 0.1 percent and 0.3 percent.

Relative to the expected trend, seasonal factors like the traditional fiesta celebrations and bigger production of selected goods for the opening of classes in the country pushed up the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services. These seasonal factors however, did not raise the all items index and recreation and culture index.

In NCR, a higher monthly gain was observed in alcoholic beverages and tobacco index at 0.4 percent in May from 0.1 percent in April. Meanwhile, increments were slower in the indices of non-food at 0.3 percent from 0.6 percent and in furnishing, household equipment and routine maintenance of the house, 0.1 percent from 0.2 percent. The same previous month’s rate of 0.3 percent was noted in the education index while the transport index registered a zero growth during the month.

The alcoholic beverages and tobacco index was pushed up by the seasonal factors like fiesta celebrations in some areas and the higher production of some items for the opening of classes this school year. On the contrary, these seasonal factors pushed down the indices for transport and education while no effect was noticed in the indices of non-food and furnishing, household equipment and routine maintenance of the house.

In AONCR, the seasonally adjusted CPI for alcoholic beverages and tobacco picked up 0.7 percent in May from a decline of 0.2 percent in April; clothing and footwear, 0.4 percent from 0.1 percent; housing, water, electricity, gas and other fuels, 0.8 percent from 0.2 percent; and furnishing, household equipment and routine maintenance of the house, 0.3 percent from -0.2 percent. From zero growth, the indices for health and recreation and culture also rose 0.1 percent. Meanwhile, the education index went up at a slower pace of 0.3 percent from 0.4 percent. The restaurant and miscellaneous goods and services index posted a zero growth.

Relative to the expected trend, the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services were pushed up by the seasonal factors during the month such as the traditional fiestas and the bigger production of some goods for the opening of classes. These seasonal factors however, did not push up the recreation and culture and education indices.