Month-on-Month Growth Rates

The seasonally adjusted CPI for all items at the national level moved at its April rate of 0.1 percent in May. Mixed movements were posted among the commodity groups during the month. A faster rate was seen in alcoholic beverages and tobacco index at 0.4 percent in May from -0.1 percent in April. From a zero growth, the clothing and footwear index also inched up 0.1 percent and health index, 0.2 percent. Meanwhile, the housing, water, electricity, gas and other fuels index went up at a slower pace of 0.1 percent from 0.2 percent. The furnishing, household equipment and routine maintenance of the house and education indices retained their respective last month’s rates of 0.2 percent and 0.3 percent while the recreation and culture and restaurant and miscellaneous goods and services indices remained stable.

Seasonal factors like the observance of traditional fiestas in some parts of the country and the bigger production of some goods for the opening of classes pushed up the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; and restaurant and miscellaneous goods and services relative to the expected trend. These seasonal factors, however, did not raise the indices for all items; health; recreation and culture; and education. The furnishing household equipment and routine maintenance of the house was not affected by these seasonal factors.

In NCR, the seasonally adjusted CPI for alcoholic beverages and tobacco and transport grew by 0.3 percent from their respective previous month’s rates of 0.2 percent and 0.1 percent; and furnishing, household equipment and routine maintenance of the house, 0.2 percent from 0.1 percent. However, a negative monthly rate was noticed in non-food index at -0.2 percent from a positive growth of 0.2 percent while movement in the education index remained at 0.3 percent.

Relative to the expected trend, the alcoholic beverages and tobacco and non-food indices were pushed up by seasonal factors like the fiesta celebration in some areas and higher production of selected items for the opening of classes. On the other hand, these seasonal factors pushed down the furnishing, household equipment and routine maintenance of the house and education indices with no effect noted in the transport index.

In AONCR, higher monthly gains were recorded in alcoholic beverages and tobacco index at 0.4 percent in May from 0.1 percent in April; and clothing and footwear; health; and restaurant and miscellaneous goods and services indices, 0.1 percent from a zero growth. Meanwhile the monthly increment in education index slowed to 0.3 percent from 0.4 percent. For nine consecutive months, the furnishing, household equipment and routine maintenance of the house index retained its monthly rate of 0.2 percent while a zero growth was registered in the indices of housing, water, electricity, gas and other fuels and recreation and culture.

Seasonal factors such as the traditional festivities observed in selected areas and the production of selected goods for the opening of classes this school year pushed up the indices for alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; and restaurant and miscellaneous goods and services relative to the expected trend. These seasonal factors, however, pushed down the indices of recreation and culture and education while it did not affect the furnishing, household equipment and routine maintenance of the house and health indices.