1. Philippines

The seasonally adjusted Consumer Price Index (CPI) for all items in the Philippines posted a month-on-month decrease of 0.1 percent in August 2024 from a monthly increment of 0.6 percent in July 2024.

Similarly, monthly declines were observed in the deseasonalized CPI of food and non-alcoholic beverages at 0.6 percent and transport at 1.5 percent from their corresponding month-on-month increases of 0.4 percent and 0.5 percent.

In addition, slower monthly increases during the month were observed in the deseasonalized indices of housing, water, electricity, gas and other fuels at 0.8 percent from 1.5 percent in the previous month, and furnishings, household equipment and routine household maintenance at 0.2 percent from 0.3 percent in July 2024.

On the other hand, the deseasonalized CPI for clothing and footwear recorded a faster monthly increment of 0.3 percent in August 2024 from 0.1 percent in the previous month.

The deseasonalized CPI for health and personal care, and miscellaneous goods and services remained at their corresponding previous month’s monthly increments of 0.1 percent and 0.2 percent.

The seasonal factors, such as the degree of demand for selected goods and services during the season, pulled down the indices of the following:

          a. All items;  
          b. Food and non-alcoholic beverages;
          c. Housing, water, electricity, gas and other fuels; and
          d. Furnishings, household equipment and routine household maintenance.

However, the seasonal factors pushed up the transport index, while it did not affect the indices of clothing and footwear, health, and personal care, and miscellaneous goods and services.  (Table 1)

2. National Capital Region (NCR)           

Similar to the trend at the national level, the deseasonalized CPI for all items in NCR posted a monthly decline of 0.4 percent in August 2024 from a month-on-month increment of 1.4 percent in July 2024.

Likewise, the seasonally adjusted CPI of food and non-alcoholic beverages dropped by 0.9 percent month-on-month during the period from an uptick of 0.9 percent in July 2024.

Moreover, slower month-on-month increments were recorded in the deseasonalized indices of housing, water, electricity, gas and other fuels at 0.5 percent in August 2024 from 3.5 percent in the previous month, and personal care, and miscellaneous goods and services at 0.1 percent during the month from 0.2 percent in July 2024.

However, the monthly rate of the deseasonalized CPI for furnishings, household equipment and routine household maintenance posted a faster monthly increase of 0.3 percent in August 2024 from 0.2 percent in July 2024.

Meanwhile, the month-on-month rate for health index inched up to 0.2 percent from a zero percent monthly rate recorded in the previous month.

The seasonal factors, such as the degree of demand for selected goods and services during the season, did not affect the indices of all items and health, while it pushed up the indices of food and non-alcoholic beverages, and personal care, and miscellaneous goods and services.

However, the indices of housing, water, electricity, gas and other fuels, and furnishings, household equipment and routine household maintenance were pulled down by the seasonal factors. (Table 2)    
 

3. Areas Outside National Capital Region (AONCR)

In AONCR, the seasonally adjusted CPI for all items recorded a slower monthly increment of 0.1 percent in August 2024 from 0.3 percent in July 2024.

Similarly, the deseasonalized CPI for education services recorded a slower month-on-month growth rate of 1.5 percent from 1.7 percent in the previous month.

The seasonally adjusted CPI of food and non-alcoholic beverages, and transport recorded month-on-month decreases of 0.4 percent and 1.6 percent, respectively, from their corresponding monthly growth rates of 0.4 percent and 0.5 percent in July 2024.

Meanwhile, faster monthly increments were observed in the seasonally adjusted CPI of the following commodity groups during the month:

          a. Clothing and footwear, 0.3 percent from 0.1 percent;
          b. Housing, water, electricity, gas and other fuels, 1.0 percent from 0.7 percent;
          c. Furnishings, household equipment and routine household maintenance, 0.3 percent from 0.2 percent; and
          d. Restaurants and accommodation services, 0.3 percent from 0.1 percent.

The monthly increase of the deseasonalized health index remained at 0.1 percent in August 2024.

The seasonal factors, such as the degree of demand for selected goods and services, pulled down the indices of the following during the month:

          a. All items; 
          b. Food and non-alcoholic beverages; 
          c. Housing, water, electricity, gas and other fuels; 
          d. Furnishings, household equipment and routine household maintenance; and 
          e. Restaurants and accommodation services.

The seasonal factors, however, pushed up the indices of transport and education services, while it did not affect the indices of clothing and footwear, and health. (Table 3)



 

CLAIRE DENNIS S. MAPA, PhD                
Undersecretary                 
National Statistician and Civil Registrar General                 


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