• Year-on-year inflation decelerated to 5.4 percent in October from 6.1 percent in September. This was effected by the slowdowns in the inflation rates of all the commodity groups. The October 2000 inflation was 4.9 percent.

   

  • Similarly, inflation in the National Capital Region (NCR) slipped to 6.1 percent in October from 6.7 percent in September primarily due to the slower movements in the prices of food and services items.

  • Inflation rate in Areas Outside the National Capital Region (AONCR) declined to 5.2 percent in October from 5.9 percent in September brought about by the slower inflation rates of all the commodity groups.

   

• Month-on-month inflation slid to 0.1 percent in October from 0.2 percent in September mainly due to the reduction in the prices of food items particularly rice, corn, fish, fruits and vegetables.

  

>By Region, Year-on-Year

*The inflation rate for the National Capital Region (NCR) slowed down to 6.1 percent in October from 6.7 percent in September.

*Inflation in Areas Outside National Capital Region (AONCR) at 5.2 percent in October was lower than the 5.9 percent posted in September. All the regions registered lower inflation rates with Southern Tagalog recording the biggest decrease at 1.4 percentage points. The lowest rate was posted in Cagayan Valley and Western Mindanao at 3.5 percent while the highest rate was in Eastern Visayas at 7.0 percent.

>By Commodity Group, Year-on-Year

Inflation rates in all the commodity groups decelerated during the month. Inflation rate for FBT moved down to 3.9 percent in October from 4.2 percent in September; clothing, 3.5 percent from 3.9 percent; housing and repairs (H&R), 6.9 percent from 7.4 percent; fuel, light and water (FLW), 9.3 percent from 10.3 percent; services, 9.1 percent from 11.3 percent; and miscellaneous items, 3.5 percent from 4.1 percent.

• The inflation rate for food alone slid to 3.7 percent in October from 4.1 percent in September. Except for the meat index whose inflation moved at its September rate of 6.8 percent, all the other food groups showed slowdowns. Declines were recorded in rice, -0.1 percent from 0.2 percent and in corn, -0.1 percent from 0.3 percent. The rate for cereal preparations slipped to 4.1 percent from 5.0 percent; dairy products, 11.9 percent from 14.0 percent; eggs, 6.0 percent from 6.4 percent; fish, 5.3 percent from 5.4 percent; fruits and vegetables, 2.8 percent from 3.3 percent; and miscellaneous foods, 3.9 percent from 4.2 percent.

In NCR, inflation rate for FBT dropped by 0.2 percentage point; clothing, 0.4 percentage point; services, 3.0 percentage points; and miscellaneous items, 0.9 percentage point. Meanwhile, the rates for H&R and FLW correspondingly increased by 0.1 percentage point and 1.0 percentage point.

• The inflation rate for food alone in NCR was 4.0 percent in October, slightly lower than the 4.1 percent recorded in September. Slower rates were seen in the prices of corn, 6.5 percent in October from 11.9 percent in September; cereal preparations, 4.5 percent from 7.0 percent; dairy products, 13.2 percent from 15.6 percent; eggs, 13.8 percent from 15.9 percent; and miscellaneous foods, 6.2 percent from 6.5 percent. Price decreases were continuously noted in rice, -0.4 percent from -0.7 percent; fish, -0.5 percent from -0.6 percent; and fruits and vegetables, -1.5 percent from -2.4 percent. Inflation however, went up for meat at 7.2 percent from 7.0 percent.

For AONCR, all the commodity groups posted lower growths in October. The rate for FBT slid to 3.8 percent in October from 4.2 percent in September; clothing, 3.1 percent from 3.5 percent; H&R, 7.0 percent from 8.0 percent; FLW, 6.3 percent from 8.2 percent; services, 9.9 percent from 11.7 percent; and miscellaneous items, 3.5 percent from 3.9 percent.

• The inflation rate for food alone at 3.6 percent in October was lower than the 4.0 percent posted in September.

• Slower rates were recorded in the prices of corn, -0.2 percent in October from 0.1 percent in September; cereal preparations, 3.8 percent from 4.2 percent; dairy products, 11.4 percent from 13.4 percent; fish, 6.6 percent from 6.8 percent; fruits and vegetables, 4.2 percent from 5.3 percent; and miscellaneous foods, 2.9 percent from 3.3 percent. On the other hand, the index for eggs went up to 3.8 percent from 3.6 percent while the meat index stayed at its September rate of 6.6 percent.

• The index for rice had a zero growth from a 0.3 percent increase last month. Nine regions registered negative rates. The biggest decrease was still observed in CAR at 2.1 percentage points.

>By Region, Month-on-Month

• Prices in NCR moved at 0.1 percent in October, the same rate reported in September. FLW and services retained their previous month's rates of 1.0 percent and 0.1 percent, respectively. Prices of miscellaneous items remained stable as it recorded zero growth this month from 0.1 percent last month. A negative rate was still noted in the price of FBT at -0.2 percent in October from -0.4 percent in September. The rate for clothing rose to 0.1 percent from zero growth while a slower upward movement was seen in H&R at 0.2 percent from 0.7 percent a month ago.

• Prices in AONCR slightly went up to 0.1 percent in October from an increase of 0.2 percent in September as prices of clothing, H&R and services moved slower compared to their corresponding last month's rates. Prices of miscellaneous items slightly picked up to 0.2 percent from 0.1 percent and FLW, to 0.1 percent from a zero growth. The rate for FBT went down to 0.1 percent from 0.3 percent. The lowest month-on-month rate was in Western Mindanao at 0.3 percent while Ilocos, Cagayan Valley, Southern Tagalog and Central Visayas registered the highest rate at 0.2 percent.

>By Commodity Group, Month-on-Month

Slowdowns of 0.1 percent posted in FBT; H&R, 0.2 percent from 0.5 percent; and services, 0.1 percent from 0.3 percent contributed to a lower inflation rate in October of 0.1 percent from 0.2 percent in September. On the other hand, the rates of clothing and miscellaneous items remained at 0.1 percent and FLW, 0.4 percent.

• Abundant supply of rice as the harvest season started in many regions caused the group's index in the three areas to decrease: Philippines and AONCR, -0.4 percent and NCR, -0.2 percent. In addition, ten regions posted negative rates, the lowest of which was in Western Mindanao at 1.2 percent. Meanwhile, Cagayan Valley posted the highest rate of 0.3 percent.

• The big catch by fishermen due to favorable weather conditions gave abundant supply of fish in the markets. Thus, indicator fish species were quoted lower in NCR and in many regions. The index declined to 0.2 percent in the Philippines and AONCR, and 0.3 percent in NCR.

• Higher prices of beef and chicken caused the meat index in the three areas to advance by 0.2 percent.

• The miscellaneous foods index rose by 0.1 percent in NCR due to increments in the prices of seasonings and other miscellaneous food items. On the other hand, the index in AONCR remained stable as it posted zero growth this month. This resulted to a 0.1 percent increase in the national index.

• Good production of corn brought about by favorable weather conditions pushed down the group's index to -0.6 percent in AONCR. Meanwhile, its price in NCR increased but at a slower rate of 2.7 percent. Overall, the inflation rate went down to 0.5 percent this month from 0.3 percent last month.

• Price add-ons in bread, noodles and flour caused the index for cereal preparations in the three areas to increase by 0.2 percent in October.

• The prevalence of favorable weather conditions in the country also brought sufficient supply of vegetables in NCR. Moreover, abundant supply of local fruits in season and some imported fruits in the markets resulted to discounted prices. Thus, the group's index in the Philippines and NCR dropped to 0.1 percent and 1.6 percent, respectively from their corresponding last month's rates of 0.3 percent and 0.8 percent. However, in AONCR, the index went up but at slower rate of 0.4 percent in October from 0.8 percent in September.

• The index for dairy products picked up by 0.2 percent in the three areas as prices of milk, cheese and butter were up during the month. However, this was still slower than the September rate of 0.4 percent in the Philippines and AONCR and 0.3 percent in NCR.

*The services index for NCR and AONCR accelerated to 0.1 percent and 0.2 percent, respectively. Increments in the prices of some school supplies, magazines, newspapers and medicines along with higher charges for hospital services, personal services and admission ticket for movies contributed to the increase. Higher wages of household help were also noticed during the month. The national index went up to 0.1 percent, lower than the 0.3 percent increase last month.

*Higher rental rates and prices of some construction materials in some regions including the NCR were noted along with increases in the wages of electrician and carpenter. The H&R index picked up to 0.2 percent in the three areas. This was however lower than their last month's rates of 0.5 percent in the Philippines, 0.7 percent in NCR and 0.4 percent in AONCR.

*The FLW index in the Philippines and NCR stayed at their September rates of 0.4 percent and 1.0 percent, respectively. Meanwhile, the index in AONCR rose to 0.1 percent this month from zero growth last month. This resulted from the upward adjustments in the prices of LPG and charcoal, along with higher purchased power adjustment (PPA) for electricity in NCR and higher charges for electricity consumption in many regions.