NOVEMBER AND OCTOBER 2013
| Year-on-Year Inflation Rates, All Items | |||
|---|---|---|---|
| November 2013 | October 2013 | Year-to-date | |
| Philippines | |||
| Headline | 3.3 | 2.9 | 2.8 |
| Core | 2.8 | 2.5 | 2.9 |
| NCR | |||
| Headline | 1.9 | 1.1 | 1.5 |
| AONCR | |||
| Headline | 3.8 | 3.4 | 3.2 |
The country’s headline inflation accelerated 3.3 percent in November from 2.9 percent in October. This was attributed to higher annual increments in the indices of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; and transport compared to their October rates. Inflation a year ago was 2.8 percent.
Excluding selected food and energy items, core inflation advanced to 2.8 percent in November from 2.5 percent in October.
Similarly, annual inflation in the National Capital Region (NCR) picked up to 1.9 percent in November from 1.1 percent in October. Higher annual growths recorded in the indices of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and furnishing, household equipment and routine maintenance of the house were observed during the month.
Annual inflation in Areas Outside NCR (AONCR) jumped by 3.8 percent in November from 3.4 percent in October. It resulted from higher annual increases registered in the indices of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; and transport.
| Year-on-Year Inflation Rates in the Philippines, All Items | ||||||
|---|---|---|---|---|---|---|
| Month | Year | |||||
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |
| January | 4.6 | 7.1 | 3.9 | 4.0 | 4.0 | 3.1 |
| 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 | 3.0 | 2.6 |
| June | 9.4 | 3.2 | 3.6 | 5.2 | 2.9 | 2.7 |
| July | 10.2 | 2.2 | 3.7 | 4.9 | 3.2 | 2.5 |
| August | 10.5 | 1.7 | 4.1 | 4.6 | 3.8 | 2.1 |
| September | 10.1 | 2.3 | 3.8 | 4.7 | 3.7 | 2.7 |
| October | 9.7 | 2.9 | 3.3 | 5.2 | 3.2 | 2.9 |
| November | 9.1 | 3.5 | 3.7 | 4.7 | 2.8 | 3.3 |
| December | 7.8 | 4.4 | 3.6 | 4.2 | 3.0 | |
| Average | 8.3 | 4.2 | 3.8 | 4.6 | 3.2 | |
| Month-on-Month Inflation Rates, All Items | ||
|---|---|---|
| Nov 2013 | Oct 2013 | |
| Philippines | 0.4 | 0.1 |
| NCR | 0.9 | -0.1 |
| AONCR | 0.4 | 0.2 |
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Higher charges in electricity rates and mark-ups in the prices of the heavily-weighted food items particularly meat, fish, fruits and vegetables raised the overall monthly consumer prices by 0.4 percent. Price increments in LPG and some construction materials were also noted in selected regions.
CONSUMER PRICE INDEX
(2006=100)NOVEMBER 2013
By Region, Year-on-Year
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Annual inflation in NCR grew 1.9 percent in November from 1.1 percent in October.
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Likewise, inflation in AONCR climbed 3.8 percent in November from 3.4 percent in October as 13 regions had higher annual rates. The biggest jump of 0.9 percentage point was recorded in Zamboanga Peninsula (5.4% from 4.5%), the region with the highest rate. Meanwhile, the lowest annual inflation of 2.3 percent remained in CAR.
By Commodity Group, Year-on-Year
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On an annual basis, the increment in the heavily-weighted food and non-alcoholic beverages index at the national level was higher at 3.9 percent in November from 3.2 percent in October; housing water, electricity, gas and other fuels index, 1.9 percent from 0.8 percent; furnishing, household equipment and routine maintenance of the house index, 2.3 percent from 2.2 percent; and transport index, 0.7 percent from 0.5 percent. Those for the rest of the commodity groups were either slower or remained their last month’s rate.
The country’s annual adjustment in the food alone index rose 4.0 percent in November from 3.4 percent in October.
The annual hike in the rice index moved at a faster rate of 8.1 percent in November from 7.8 percent in October; fish index, 3.1 percent from 2.5 percent; fruit index, 3.9 percent from 3.8 percent; and vegetables index, 5.4 percent from 1.2 percent.
Meanwhile, the other food groups moved slower or had negative annual rates.
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In NCR, the food and non-alcoholic beverages index accelerated 3.5 percent in November from 2.5 percent in October and furnishing, household equipment and routine maintenance of the house index, 1.6 percent from 1.5 percent. Moreover, the index for housing, water, electricity, gas and other fuels went up 0.7 percent from a drop of 1.1 percent in October. However, the annual increase in alcoholic beverages and tobacco index further decelerated to 15.4 percent from 16.5 percent. The annual adjustments for the rest of the commodity groups remained at their corresponding October rates with the transport index recording a zero growth from -0.4 percent.
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The food alone index in NCR posted an annual mark-up of 3.7 percent in November from 2.6 percent in October.
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A double-digit annual increment was noted in the rice index at 10.7 percent in November from 9.4 percent in October. In addition, a higher annual inflation was registered in the corn index at 7.8 percent from 4.7 percent; meat index, 1.2 percent from 0.5 percent; fish index, 2.4 percent from 1.2 percent; fruit index, 3.4 percent from 0.9 percent; and vegetables index, 9.7 percent from 5.0 percent.
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On the contrary, a slower annual gain was noted in food products not elsewhere classified index at 5.5 percent from 6.2 percent. The growth in the index for milk, cheese and egg remained at 1.1 percent while negative annual rates were still observed in the indices of oils and fats and sugar, jam, honey, chocolate and confectionery.
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In AONCR, annual uptick in food and non-alcoholic beverages index further expanded to 3.9 percent in November from 3.4 percent in October; housing, water, electricity, gas and other fuels index, 2.4 percent from 1.6 percent; furnishing, household equipment and routine maintenance of the house and health indices, 2.5 percent from 2.4 percent; and transport index, 0.9 percent form 0.7 percent. The rest of the commodity groups retained their last month’s rate.
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Inflation in the food alone index in AONCR leaped 4.0 percent in November from 3.5 percent in October.
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A higher annual growth was still recorded in the rice index in November at 7.7 percent from 7.6 percent in October as eight regions posted faster annual increments. The biggest annual gain of 2.9 percentage points was in Cagayan Valley (12.2% from 9.3%).
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Movement in fish index also went up by 3.3 percent from 2.7 percent; vegetables index, 4.6 percent from 0.5 percent; and food products not elsewhere classified index, 2.8 percent from 2.7 percent.
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Improved annual increments were however seen in the rest of the food groups with the indices of oils and fats and sugar, jam, honey, chocolate and confectionery still having negative annual rates.
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By Region, Month-on-Month
Consumer prices in NCR escalated by 0.9 percent in November from -0.1 percent in October. It resulted from a jump of 2.4 percent in the housing, water, electricity, gas and other fuels index during the month from -1.1 percent. The increase in the health index was also faster at 0.1 percent from zero growth. On the contrary, the monthly gain in the heavily-weighted food and non-alcoholic eased to 0.6 percent from 0.8 percent while the index for furnishing, household equipment and routine maintenance of the house moved at its last month’s rate of 0.1 percent. The rest of the commodity groups have zero growth during the month.
Prices in AONCR likewise climbed 0.4 percent in November from 0.2 percent in October. This was due to higher monthly increments recorded in housing, water, electricity, gas and other fuels index at 0.8 percent from -0.2 percent and in health index, 0.2 percent from zero growth. The rest of the commodity groups either retained their previous month’s rate or had zero growth.
Higher monthly upticks were seen in nine regions with the highest rate of 0.8 percent noted in Zamboanga Peninsula.
Among the three big areas of the country, price increases of consumer items in Luzon were generally faster compared with those in Visayas and Mindanao.
By Commodity Group, Month-on-Month
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On a monthly basis, prices of consumer items in the Philippines rose 0.4 percent in November from 0.1 percent in October. From a 0.4 percent decline in October, the index for housing, water, electricity, gas and other fuels climbed 1.3 percent in November. Moreover, a faster rate of increment was also noticed in the health index at 0.2 percent from zero growth. Meanwhile, monthly mark-ups in the indices of clothing and footwear and restaurant and miscellaneous goods and services slowed down to 0.1 percent from 0.2 percent. The other commodity groups either retained their last month’s rate or had zero growth.
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Limited fishing trips of fishermen due to typhoons and tropical depressions experienced during the month resulted to low supplies of selected fish species in the markets. Thus, the fish index at the national level gained by 1.1 percent; NCR, 2.0 percent; and AONCR, 1.0 percent.
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The volume of deliveries for selected vegetables particularly cabbage, carrots, ampalaya, tomatoes, eggplant and pechay was generally sufficient in NCR markets during the month. This factor pushed down the vegetable index in the area by 1.8 percent. On the contrary, the unfavourable weather conditions experienced in many regions limited supplies of vegetables thereby raising their prices in the markets. Thus, the group’s index in AONCR picked up 2.5 percent. Likewise, the national index gained 1.7 percent.
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The fruit index in NCR rose 3.5 percent as off-season fruits such as lanzones and mango exhibited higher prices in the markets. Likewise, the fruit index in AONCR went up 0.5 percent due to increments in the prices of mango, lanzones and banana. At the national level, the group’s index registered an increment of 1.1 percent.
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Upward adjustments in the prices of fresh meat such as chicken, pork and beef pushed the meat index in NCR by 0.8 percent from 0.4 percent. That for AONCR also increased but at a slower pace of 0.1 percent from 0.2 percent. The movement of the national index remained at 0.2 percent.
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The monthly hike in rice index in the Philippines and AONCR decelerated to 0.1 percent from 0.4 percent. This was due to sufficient supplies of rice in the markets brought about by the harvest season of palay in many provinces. A faster rate of increase of 0.4 percent was however recorded in the group’s index in NCR from 0.3 percent as prices of commercial rice were still high during the month.
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The housing, water, electricity, gas and other fuels index at the national level accelerated 1.3 percent; NCR, 2.4 percent; and AONCR, 0.8 percent due to higher charges in electricity rates. Price mark-ups in LPG and selected construction materials also contributed to the uptrend.
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Add-ons in the prices of some items for personal care and effects in selected provinces effected the 0.1 percent gain in the restaurant and miscellaneous goods and services index in the Philippines and 0.2 percent in AONCR. Meanwhile, a zero growth was still observed in the group’s index in NCR.
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The index for furnishing, household equipment and routine maintenance of the house in the Philippines and AONCR moved up 0.2 percent and in NCR, 0.1 percent. This was brought about by higher prices of selected cleaning products and household textiles in some regions.
NOTES:
- The second phase survey report from Leyte was not received as of December 3, 2013.
- CPIs and inflation rates by province and selected city are also available upon request at NSO, Industry and Trade Statistics Department, Economic Indices and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
(Sgd.) CARMELITA N. ERICTA
Administrator
