Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items went up by 0.3 percent in October from -0.1 percent in September. Higher gains were recorded in the indices of alcoholic beverages and tobacco at 0.7 percent from 0.6 percent; clothing and footwear and health, 0.3 percent from 0.1 percent; housing, water, electricity, gas and other fuels, 0.2 percent from -0.3 percent; and recreation and culture and restaurant and miscellaneous goods and services, 0.2 percent from 0.1 percent. Slower increments were, however, noticed in the indices of furnishing, household equipment and routine maintenance of the house at 0.1 percent from 0.2 percent; and education, 0.3 percent from 0.4 percent.

Seasonal factor like the start of school semester pushed up the education index relative to the expected trend. On the other hand, the seasonal factor such as the increase of production of selected goods pulled 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; and restaurant and miscellaneous goods and services. The recreation and culture index was not affected by these seasonal factors.

In NCR, the monthly change of the seasonally adjusted CPI for non-food and furnishing, household equipment and routine maintenance of the house correspondingly grew by 0.2 percent and 0.1 percent in October from zero growth in September. The alcoholic beverages and tobacco index moved at a slower pace of 0.2 percent from 0.3 percent and transport index, 0.3 percent from 0.4 percent. The education index retained its last month’s rate of 0.4 percent.

Contrary to the expected trend, higher production of selected goods in preparation for the holiday season pulled down the indices for alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; and transport. However, the seasonal factor such as the opening of classes for the second semester raised the index for education.

In AONCR, higher monthly growth rates were observed in the seasonally adjusted CPI of alcoholic beverages and tobacco at 0.5 percent from 0.4 percent; clothing and footwear and health, 0.3 percent from 0.1 percent; housing, water, electricity, gas and other fuels and restaurant and miscellaneous goods and services, 0.2 percent from 0.1 percent; and education, 0.4 percent from 0.3 percent. The furnishing, household equipment and routine maintenance of the house index retained its last month’s rate of 0.2 percent while the recreation and culture index recorded a zero growth in October from 0.1 percent in September.

Relative to the expected trend, the seasonal factor of bigger volume in production of selected goods in preparation for the coming Christmas season 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; and health. The seasonal factor like the start of classes for the second semester however, pushed up the indices for recreation and culture and education. These seasonal factors have no effect in the restaurant and miscellaneous goods and services index.