Year-on-Year Inflation Rates
Philippines, All Items

Month-on-Month Inflation Rates
Philippines, All Items

CONSUMER PRICE INDEX
(1994=100)
OCTOBER 1998

l By Commodity Group, Year-on-Year

è The rate for food, beverages and tobacco (FBT) increased in October to 9.9 percent from 9.4 percent while other groups registered lower inflation rates in October. The rates for clothing decreased to 7.9 percent from 8.5 percent; housing and repairs (H&R), 10.7 percent from 11.1 percent; fuel, light and water (FLW), 6.3 percent from 6.6 percent; and services, 13.6 percent from 14.1 percent. The miscellaneous items remained at the September rate of 9.2 percent.

>The inflation rate for food alone was 9.9 percent in October, which was higher than 9.5 percent in September. Higher rates were noted in the prices of fruits and vegetables, 20.2 percent from 15.5 percent, and miscellaneous foods, 15.1 percent from 12.1 percent. However, lower rates were posted in rice, 4.1 percent from 4.5 percent; corn, -2.6 percent from 3.3 percent; cereal preparations, 12.6 percent from 12.8 percent; dairy products, 12.9 percent from 14.8 percent; eggs, 12.5 percent from 13.4 percent; fish, 8.1 percent from 9.1 percent; and meat, 6.1 percent from 7.4 percent.

è In Metro Manila (MM), the rates for FBT and miscellaneous items were correspondingly higher by 1.2 percentage points and 0.2 percentage point. On the other hand, the rates for clothing, H&R, FLW, and services were correspondingly lower by 1.5 percentage points, 0.6 percentage point, 1.4 percentage points and 0.7 percentage point.

>The inflation for food alone in MM moved up to 10.0 percent from 8.6 percent. Higher rates were posted in the prices of rice, 0.4 percent from -0.1 percent; fruits and vegetables, 27.6 percent from 13.4 percent; and miscellaneous foods, 8.7 percent from 5.8 percent. However, lower rates were recorded in the prices of corn, 6.8 percent from 9.2 percent; cereal preparations, 15.1 percent from 15.4 percent; dairy products, 12.0 percent from 13.2 percent; eggs, 20.6 percent from 23.8 percent; fish, 10.9 percent from 15.7 percent; and meat, 4.9 percent from 6.7 percent.

® For areas outside Metro Manila (AOMM), the rates for FBT increased by 0.2 percentage point, and FLW, by 0.1 percentage point. On the other hand, the rates for clothing and H&R decreased by 0.3 percentage point, and services, by 0.5 percentage point. The rate for miscellaneous items remained the same in October.

> The inflation rate for food alone rose to 9.8 percent from 8.6 percent.

> Higher rates were noted in the prices of fruits and vegetables, 17.9 percent from 16.2 percent; and miscellaneous foods, 18.1 percent from 15.0 percent.

> The inflation rate for rice decelerated to 4.6 percent from 5.2 percent in September. Eleven regions posted lower rates; the biggest decrease was 5.9 percentage points in Western Mindanao.

>Inflation rates for corn moved down to -2.8 percent from 3.2 percent last month; cereal preparations, 11.6 percent from 11.8 percent; dairy products, 13.3 percent from 15.3 percent; eggs, 10.1 percent from 10.3 percent; fish, 7.4 percent from 7.5 percent; and meat, 6.6 percent from 7.7 percent.

l By Commodity Group, Month-on-Month

è Month-on-month inflation rates for the following groups were higher in October: FBT, 0.7 percent from 0.4 percent in September; H&R, 0.5 percent from 0.3 percent; FLW, 0.9 percent from 0.2 percent; and services, 0.5 percent from 0.4 percent. On the other hand, inflation rate slowed down in clothing, 0.4 percent from 0.7 percent, while miscellaneous remained at its September rate of 0.3 percent.

• The price of rice went down to -1.0 percent in October from 1.9 percent in September brought about by the on-going harvest season. Month-on-month rates were negative in twelve regions. The lowest rate was observed in Western Visayas and Western Mindanao at -4.1 percent while Ilocos registered the highest rate at 4.4 percent. In MM, the price of rice slowed down to 0.1 percent from 0.3 percent in September.
• Prices of corn declined to -4.8 percent from -4.2 percent in the Philippines, -2.2 percent from 3.3 percent in MM and -4.9 percent from -4.3 percent in AOMM.
• Prices of cereal preparations slowed down to 0.3 percent from 0.4 percent in the Philippines and 0.1 percent from 0.2 percent in MM as prices of flour, noodles and native cakes went up during the month. In AOMM, the rate remained at its September level of 0.4 percent.
• The dairy products index was still on the uptrend but at a slower rate as the national index posted a growth of 0.2 percent with milk, cheese and butter being priced higher in most of the regions.
• The index for eggs in the Philippines and AOMM also increased but at a slower rate of 0.1 percent and 1.1 percent from their corresponding rates of 1.0 percent and 1.2 percent last month.
• Prices of fish in Metro Manila declined by 0.8 percent while in AOMM the index posted a zero growth resulting to a -0.2 percent decline in the national index for fish.
• The fruits and vegetables index in MM and ten other regions moved up resulting to a 4.5 percent increase in the national index brought about by the effect of the recent typhoons Gading and Iliang. Significant price increases were recorded in regions at Luzon from their negative rates last month. The biggest increment however was noted in Western Mindanao at 7.3 percent.
• Lower prices of pork pushed down the meat index by -1.7 percent in MM and -0.2 percent in AOMM causing the national index to post a -0.7 percent growth.
• Prices of sugar, cooking oil, vinegar, garlic, calamansi, and sauces increased in October. The miscellaneous foods index increased by 2.0 percent in MM and 3.3 percent in AOMM, which were higher than their corresponding rates of 0.9 percent and 1.4 percent in September.
• Prices of meals eaten outside increased at slower rates of 0.2 percent in the Philippines and 0.3 percent in AOMM.

® The FLW index in the Philippines, MM and AOMM went up by 0.9 percent. This was brought about by the increases in the prices of LPG, firewood, kerosene, charcoal, candles and higher electricity rates in many regions together with higher currency exchange rate (CERA) and purchased power adjustment rate (PPA) for electricity in Metro Manila.

® Higher wages of carpenters, plumbers, electricians; mark-ups in the prices of some construction materials; and rental rates in some provinces caused the H&R index to rise in the national level by 0.5 percent; in MM, by 0.1 percent; and in AOMM, by 0.7 percent.

® Services index rose to 0.5 percent from 0.4 percent in the Philippines and 0.3 percent from 0.1 percent in MM while in AOMM the index increased by 0.5 percent. This resulted from the increase in the prices of medicines, school supplies, gasoline, and diesel as well as higher medical charges and wages of household help.

® Clothing indices for the whole country, MM and AOMM increased correspondingly by 0.4 percent, 0.1 percent and 0.5 percent, which were slower than their September rates of 0.7 percent, 1.1 percent and 0.6 percent. This was brought about by the increase in the prices of footwear, ready-made apparel and sewing accessories in some regions along with higher sewing charges.

® The MM index for miscellaneous items went up to 0.3 percent from -0.3 percent last month while AOMM registered a 0.3 percent increase, which was slower than 0.6 percent in September, resulting to a 0.3 percent increment in the national index. This resulted from the increases in the prices of among others, laundry soap, detergent, toothpaste, sanitary napkin, face powder, shoe polish, shampoo, and cleanser.

l By Region, Year-on-Year

® The inflation rate for Metro Manila went up to 10.9 percent in October from 10.7 percent in September.

® AOMM slowed down to 9.8 percent in October from 9.9 percent in September. Many regions posted declines in their inflation rates. The biggest decline was noted in Northern Mindanao and Central Mindanao at 1.2 percentage points followed by Southern Mindanao at 1.1 percentage point. Central Mindanao recorded the lowest rate at 7.4 percent while ARMM posted the highest inflation rate at 13.6 percent.

l By Region, Month-on-Month

® Prices in Metro Manila increased to 0.8 percent in October from 0.3 percent last month. Increments were noted in the prices of FBT, 1.1 percentage points; FLW, 0.3 percentage point; services, 0.2 percentage point; and miscellaneous items, 0.6 percentage point. A lower rate was registered in clothing, by 1.0 percentage point. The same rate was noted in H&R at 0.1 percent.

® In AOMM, prices increased by 0.5 percent, which was higher than 0.4 percent last month. Higher month-on-month rates were recorded correspondingly in H&R and FLW by 0.3 percentage point and 0.8 percentage point. Those of FBT and services retained their previous month's rates while those of clothing and miscellaneous items were lower by 0.1 percentage point and 0.3 percentage point, respectively. Compared to September, only six regions posted higher rates with the highest rate recorded in Ilocos at 1.7 percent while the lowest was in Central Mindanao at -0.5 percent.

Source: National Statistics Office
Manila, Philippines