YEAR-ON-YEAR

Philippines

The year-on-year headline inflation at the national level was pegged at 6.7 percent in October 2018. It was the same rate recorded in the previous month, while in October 2017, inflation reached 3.1 percent.

Mixed movements in the annual growths were posted among the commodity groups. Relative to the annual rates in the previous month, higher annual increases were observed in the indices of the following commodity groups:

• Housing, Water, Electricity, Gas, and Other Fuels, 4.8%;
• Furnishing, Household Equipment and Routine Maintenance of the House, 3.7%;
• Health, 4.3%;
• Transport, 8.8%;
• Recreation and Culture, 3.1%; and
• Restaurant and Miscellaneous Goods and Services, 4.2%.

Slowdowns in the annual increments were, however, seen in the indices of food and non-alcoholic beverages at 9.4 percent and alcoholic beverages and tobacco, 21.6 percent.

Growths for the rest of the commodity groups remained at their previous month’s annual rates (see Tables 3 and 4).

Excluding selected food and energy items, core inflation went up by 4.9 percent in October 2018. In the previous month, core inflation was posted at 4.7 percent and in October 2017, 2.6 percent (see Table 9).

The annual rate of the food index decelerated to 9.2 percent in October 2018. Its annual growth in the previous month was 9.7 percent and in October 2017, 3.4 percent (see Table 7).

Compared with their previous month’s annual rates, slower annual gains were observed in the indices of corn and meat both at 7.5 percent; fruits, 4.3 percent, and vegetables, 15.8 percent. Other food groups registered higher annual increments in October 2018 (see Table 5).

National Capital Region (NCR)

In NCR, inflation further slowed down to 6.1 percent in October 2018. In the previous month, inflation settled to 6.3 percent and in October 2017, 4.3 percent. A lower annual increase of 7.8 percent was observed in the index of food and non-alcoholic beverages. Meanwhile, higher annual mark-ups were recorded in the indices of housing, water, electricity, gas, and other fuels at 5.0 percent; and transport, 10.5 percent. In addition, annual rates in the indices of health and restaurant and miscellaneous goods and services went up at a faster pace of 4.7 percent.

The rest of the commodity groups retained their previous month’s annual rates (see Tables 3 and 4).

Areas Outside NCR (AONCR)

Following the same trend at the national level, inflation in AONCR remained at 6.8 percent in October 2018. In October 2017, inflation was posted at 2.8 percent.

During the period, higher annual upticks were observed in the indices of furnishing, household equipment and routine maintenance of the house at 4.0 percent; health, 4.3 percent; transport, 8.2 percent; communication, 0.5 percent; and restaurant and miscellaneous goods and services, 4.0 percent.

On the other hand, lower annual hikes were registered in the indices of food and non-alcoholic beverages at 9.8 percent and alcoholic beverages and tobacco, 21.6 percent. The rest of the commodity groups retained their previous month’s rates (see Tables 3 and 4).

Bicol Region maintained its rank as the region with the highest inflation rate of 9.9 percent in October 2018. Central Luzon also remained to have the lowest inflation rate of 4.4 percent.

Compared with their previous month’s annual rates, seven regions outside NCR registered higher inflation in October 2018, eight regions had a slowdown and one region retained its previous month’s inflation rate. (see Table 4).

Note: CPIs and inflation rates by province and selected cities are also available upon request at Price Statistics Division (Telephone Number: 376-19-59).

(Sgd) LISA GRACE S. BERSALES, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

See more at the CPI and Inflation Rate page.