Month-on-Month Growth Rates

The seasonally adjusted CPI for all items went down by 0.1 percent in September from a positive growth of 0.1 percent in August. This was due to the further decline in the housing, water, electricity, gas and other fuels index at -0.3 percent in September from -0.2 percent in August. A slower monthly increment were likewise seen in the indices of alcoholic beverages and tobacco at 0.6 percent from 0.7 percent and restaurant and miscellaneous goods and services, 0.1 percent from 0.2 percent. The indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and education retained their last month’s rates.

The lean season that was still experienced in September pushed up the indices for all items; health; recreation and culture; and education relative to the expected trend. This seasonal factor, however, did not raise the indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; and furnishing, household equipment and routine maintenance of the house. The indices of clothing and footwear and restaurant and miscellaneous goods and services were not affected by this seasonal factor.

In NCR, a growth of 0.4 percent was posted in the transport index in September from a drop of 0.2 percent in August. Meanwhile, the alcoholic beverages and tobacco index moved up at a slower pace of 0.3 percent from 0.4 percent. Movements in the indices of the rest of the commodity groups remained at their previous month’s rate.

The education index was pushed up by the lean season in September relative to the expected trend. On the other hand, this seasonal factor pulled down the indices of alcoholic beverages and tobacco; non-food; and furnishing, household equipment and routine maintenance of the house. However, this seasonal factor did not affect the transport index during the month.

In AONCR, the housing, water, electricity, gas and other fuels index further dropped by 0.3 percent in September from -0.2 percent in August. Likewise, a slower monthly rate was noticed in alcoholic beverages and tobacco index at 0.4 percent from 0.5 percent. However, the restaurant and miscellaneous goods and services index inched up 0.2 percent from 0.1 percent. The indices of the following commodity groups moved at their last month’s rates during the period: clothing and footwear and health, 0.1 percent; furnishing, household equipment and routine maintenance of the house, 0.2 percent; and education, 0.4 percent. A zero growth was recorded in the recreation and culture index.

The lean month of September pulled up the indices of recreation and culture and education relative to the expected trend. On the other hand, this seasonal factor pushed down the indices of alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; and restaurant and miscellaneous goods and services while it did not affect the indices of clothing and footwear and health.