Month-on-Month Growth Rates

On a monthly basis, the rate of change in the seasonally adjusted CPI for all items in the Philippines increased by 0.6 percent in November from 0.1 percent in October and housing, water, electricity, gas and other fuels, 0.8 percent from zero growth. The indices of alcoholic beverages and tobacco and clothing and footwear correspondingly went up to 0.8 percent and 0.3 percent but these were however slower than their respective last month’s rates of 1.0 percent and 0.4 percent. Meanwhile, the rest of the commodity groups retained their previous month’s rate.

Seasonal factor like the on-going production of selected goods in preparation for the coming yuletide season generally pushed down the indices for all items; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and restaurant and miscellaneous goods and services relative to the expected trend. On the other hand, this seasonal factor pushed up the index for education during the month.

In NCR, a higher monthly increment was observed in non-food index at 0.6 percent in November from a negative rate of 0.2 percent last month. Movement in the transport index also rose 0.1 percent from -0.1 percent. While the index for alcoholic beverages and tobacco moved at a slower rate of 0.2 percent from 0.6 percent, those for furnishing, household equipment and routine maintenance of the house and education remained at 0.2 percent and 0.3 percent, respectively.

Upward adjustments in the indices of furnishing, household equipment and routine maintenance of the house and education were influenced by the production of selected goods for the forthcoming holiday season. Meanwhile, this seasonal factor did not raise the indices of alcoholic beverages and tobacco; non-food; and transport relative to the expected trend.

Compared to a month ago, the seasonally adjusted CPI in AONCR for housing, water, electricity, gas and other fuels gained 0.7 percent from 0.2 percent; and furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and restaurant and miscellaneous goods and services, 0.3 percent from 0.2 percent. The alcoholic beverages and tobacco index eased to 1.1 percent from 1.2 percent while growths for clothing and footwear and education were still recorded at their last month’s rate of 0.3 percent.

The preparation for the approaching holiday season resulted to increase in production of selected goods during the period. This seasonal factor generally pulled down the indices for alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and restaurant and miscellaneous goods and services. On the contrary, this seasonal factor pushed up the education index relative to the expected trend.