APRIL AND MARCH 2013

The country’s annual headline inflation further slowed down to 2.6 percent in April from 3.2 percent in March. It resulted from the slower annual increments in all the commodity groups except in the education index. The annual decline still recorded in the transport index also contributed to the downtrend. Inflation a year ago was 3.0 percent.

Excluding selected food and energy items, annual core inflation improved to 3.1 percent in April from 3.8 percent in March.

Similarly, annual inflation in the National Capital Region (NCR) eased to 1.7 percent in
April from 1.9 percent in March. Except in the education index, all the commodity groups posted slower annual hikes with the transport index having a negative rate.

Annual inflation rate in Areas Outside NCR (AONCR) likewise decelerated to 2.8 percent in April from 3.6 percent in March. The downtrend was due to the negative annual rate in the transport index and to the lower annual growths in all the commodity groups except in the education index.

Year-on-Year Inflation Rates in the Philippines, All Items January 2008 - April 2013 (2006=100)
Month	Year
	2008	2009	2010	2011	2012	2013
January	4.6	7.1	3.9	4.0	4.0	3.0
February	5.1	7.2	3.9	4.7	2.7	3.4
March	5.9	6.7	3.9	4.9	2.6	3.2
April	7.3	5.6	4.0	4.7	3.0	2.6
May	8.2	4.3	3.9	4.9	2.9
June	9.4	3.2	3.6	5.2	2.8
July	10.2	2.2	3.7	4.9	3.2
August	10.5	1.7	4.1	4.6	3.8
September	10.1	2.3	3.8	4.7	3.6
October	9.7	2.9	3.3	5.2	3.1
November	9.1	3.5	3.7	4.7	2.8
December	7.8	4.4	3.6	4.2	2.9
Average	8.3	4.2	3.8	4.6	3.2

• The month-on-month inflation at the national level increased to 0.2 percent in April from 0.1 percent in March. It resulted from the increases in the prices of food items such as corn, meat, fruits, vegetables and selected condiments and seasonings in most of the regions. Price hikes in clothing and footwear items, selected construction materials, some items for household operation and higher electricity rates in selected regions were also noted during the month. Contributing to the uptrend were upward adjustments in the prices of alcoholic beverages and tobacco items, medicines and increased charges for medical services in many regions.

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  CONSUMER PRICE INDEX
  (2006=100)

  APRIL 2013

By Region, Year-on-Year

• The annual inflation in NCR continued to move at slower rate at 1.7 percent in April from 1.9 percent in March.

• A similar trend was also observed in AONCR as its annual inflation further eased to 2.8 percent in April from 3.6 percent in March. Annual mark-ups in all the regions except in Cagayan Valley, Zamboanga Peninsula and ARMM were slower during the month. The biggest slowdown of 1.9 percentage points was noted in Central Visayas (5.2% from 7.1%), the region posting the highest inflation rate. The lowest annual rate remained in Ilocos region at 1.5 percent.

By Commodity Group, Year-on-Year

• At the national level, the transport index posted an annual decrease of 0.7 percent in April from 0.5 percent growth in March. The rest of the commodity groups recorded slower annual hikes with the education index retaining its last month’s rate of 4.4 percent.

  The Philippines’ annual inflation rate for food alone index slid to 2.1 percent in April from 2.8 percent in March.

  Annual adjustment in the oils and fats index further dropped by 6.9 percent in April from -5.9 percent in March. Moreover, the rest of the food groups registered slower annual upticks except in the indices of meat, fruits and vegetables.

• Except for the education index, all the commodity groups in NCR have lower annual mark-ups with the transport index still recording an annual decrease at -1.8 percent in April from -1.4 percent in March.

  • The annual increment for food alone index in NCR decelerated to 1.9 percent in April from 2.3 percent in March.

  • An annual decline of 7.9 percent was seen in the oils and fats index in April from -7.7 percent in March and in the fish index, -0.5 percent from 1.2 percent. Moreover, the annual uptick in corn index improved to 0.1 percent in April from 1.6 percent in March; meat index, 2.5 percent from 2.6 percent; milk, cheese and egg index, 2.5 percent from 3.5 percent; fruit index, 4.2 percent from 4.5 percent; sugar, jam, honey, chocolate and confectionery index, 6.8 percent from 7.1 percent; and food products not elsewhere classified, 0.8 percent from 3.8 percent. Meanwhile, a higher annual increase was noted in rice index at 2.2 percent from 1.5 percent and vegetable index, 1.7 percent from 1.4 percent.

• In AONCR, a negative annual adjustment was posted in transport index at -0.4 percent in April from 1.0 percent in March. In addition, the annual gains for the rest of the commodity groups were slower except in the education index.

  • The annual inflation in the food alone index in AONCR improved to 2.2 percent in April from 2.9 percent in March.

  • The annual increment in the rice index eased to 1.4 percent in April from 1.6 percent in March. Ten regions have either slower or negative annual rates with the biggest decline of 1.5 percentage points posted in CAR (1.4% from 2.9%).

  • A negative annual growth was noted in the oils and fats index at -6.6 percent in April from -5.4 percent in March. Moreover, a slower annual hike was observed in the corn index at 5.4 percent from 5.9 percent; fish index, 2.6 percent from 5.4 percent; milk, cheese and egg index, 2.2 percent from 2.7 percent; sugar, jam, honey, chocolate and confectionery index, 1.1 percent from 2.8 percent; and food products, not elsewhere classified, 2.4 percent from 3.2 percent.

  • Higher annual rates were reported in meat, fruits and vegetables indices.

By Region, Month-on-Month

By Commodity Group, Month-on-Month

• Compared to a 0.1 percent growth in March, prices of consumer items at the national level inched up 0.2 percent in April. A higher increment in food and non-alcoholic beverages index at 0.1 percent from -0.1 percent effected the uptrend. In addition, the clothing and footwear index moved up 0.6 percent from 0.3 percent while the housing, water, electricity, gas and other fuel nindex grew 0.5 percent from 0.1 percent and furnishing, household equipment and routine maintenance of the house index and health indices, 0.5 percent from 0.2 percent. The restaurant and miscellaneous goods and services index retained its previous month’s rate of 0.3 percent. The rest of the commodity groups have either slower or zero growth, except for the transport index which moved at -0.2 percent.

  • The fruit index in the Philippines and AONCR climbed 1.0 percent and 1.3 percent, respectively from last month’s rate of -0.1 percent and in the NCR, 0.1 percent from -0.4 percent. This was due to the price hikes in fresh fruits such as avocado, pineapple, banana and papaya.

  • Prices of corn generally went up during the month. Thus, the corn index in the Philippines and AONCR accelerated by 0.5 percent and NCR, 0.8 percent.

  • With increments in the prices of vegetables such as cabbage, pechay and carrots in selected regions, the vegetable index in the three areas rose during the month: Philippines, 0.4 percent; NCR, 0.7 percent; and AONCR, 0.3 percent.

  • With the upward price adjustments in pork and chicken in NCR, the meat index in the area advanced by 0.3 percent in April from -0.4 percent in March. Likewise, the meat index in AONCR moved up by 0.5 percent as higher prices of pork, chicken and selected processed meat products were observed in some regions. The growth in the group’s national index was 0.4 percent.

  • The food products not elsewhere classified index at the national level went up by 0.7 percent; NCR, 0.2 percent; and AONCR, 0.8 percent. This was due to the increases in the prices of selected spices, sauces, condiments and seasonings in some regions.

  • The index for milk, cheese and egg in the Philippines and AONCR picked up by 0.2 percent brought about by higher prices of milk and eggs in selected regions. In NCR, movement in the group’s index dropped by 0.1 percent as prices of fresh eggs and powdered milk generally declined during the period.

  • The rice index in the Philippines and AONCR retained their last month’s rate of 0.1 percent. The biggest uptick of 2.5 percent was seen in Cagayan Valley. The general upward adjustments in the prices of rice in NCR raised its group’s index by 0.2 percent.

• Prices of alcoholic beverages and tobacco in the three areas continued to move up at a slower rate. The group’s index at the national level slowed to 1.0 percent in April from 2.4 percent in March; NCR, 0.8 percent from 1.0 percent; and AONCR, 1.1 percent from 2.6 percent.

• With the increased prices of clothing and footwear items, the group's index went up in the three areas: Philippines, 0.6 percent; NCR, 0.8 percent; and AONCR, 0.5 percent.

• The index for housing, water, electricity, gas, and other fuels in NCR rose 0.2 percent and in AONCR and in the Philippines, 0.5 percent. This was brought about by the upward adjustments in the prices of selected construction materials together with higher electricity rates.

• The index for furnishing, household equipment and routine maintenance of the house in the Philippines and AONCR climbed 0.5 percent and 0.6 percent, respectively. This was due to the upticks in the prices of selected items for household operation. The group’s index in NCR had a zero growth.

• Add-ons in the prices of medicines along with the accelerated charges for medical services pushed the health index in the Philippines and AONCR by 0.5 percent and in NCR, 0.1 percent.

• The index for recreation and culture in the Philippines and AONCR inched up 0.1 percent and in NCR, 0.2 percent. This was effected by the higher admission fee in cinemas and price gains in selected school supplies in some regions along with price hikes in textbooks in NCR.

• The index for restaurant and miscellaneous goods and services in AONCR and in the Philippines correspondingly grew by 0.4 percent and 0.3 percent. This can be attributed to the price additions in selected items for personal care and effects observed during the month. In NCR, the group’s index had a zero growth.

NOTES:

CPIs and inflation rates by province and selected city are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).

(Sgd.) CARMELITA N. ERICTA
Administrator