Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items and recreation and culture in September 2016 both moved at their last month’s rate of 0.1 percent. Meanwhile, a higher increment was recorded in housing, water, electricity, gas and other fuels index at 0.2 percent in September from 0.1 percent in August. The indices for alcoholic beverages and tobacco moved up at a slower pace of 0.6 percent from 0.7 percent; clothing and footwear and education, 0.1 percent from 0.3 percent; furnishing, household equipment and routine maintenance of the house and health, 0.2 percent from 0.3 percent; and restaurant and miscellaneous goods and services, 0.1 percent from 0.2 percent.

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

In NCR, the monthly growth of the seasonally adjusted CPI for non-food and transport rose 0.2 percent in September from their corresponding August rates of zero growth and 0.1 percent and education, 0.3 percent from 0.2 percent. On the contrary, the increase in furnishing, household equipment and routine maintenance of the house index decelerated to 0.1 percent from 0.9 percent while that for alcoholic beverages and tobacco index retained its last month’s rate of 0.2 percent.

Relative to the expected trend, the lean month of September raised the indices of furnishing, household equipment and routine maintenance of the house and education. However, this seasonal factor generally pushed down the indices of alcoholic beverages and tobacco and non-food while the transport index was not affected by this seasonal factor.

Compared to last month, the increment of the seasonally adjusted CPI for housing, water, electricity, gas and other fuels and furnishing, household equipment and routine maintenance of the house were higher at 0.2 percent and 0.3 percent, respectively in September from 0.1 percent in August. From a zero growth last month, the index for recreation and culture inched up 0.1 percent. On the other hand, slower monthly gains were observed in the indices of alcoholic beverages and tobacco at 0.5 percent from 0.8 percent; health and education, 0.2 percent from their respective last month’s rates of 0.4 percent and 0.3 percent; and restaurant and miscellaneous goods and services, 0.1 percent from 0.2 percent. Movement in clothing and footwear index remained at 0.2 percent.

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