Summary Inflation Report Consumer Price Index for the Bottom 30% Income Households (2012=100): August 2022

06 September 2022

Table A. Year-on-Year Inflation Rates for the
Bottom 30% Income Households, All Items
In Percent
(2012=100)

Area August 2021 July 2022 August 2022 Year-to-date *
Philippines 5.3 5.9 5.9 4.3
NCR 5.1 5.1 6.1 3.5
AONCR 5.3 6.0 5.9 4.3
Source: Retail Price Survey of Commodities for the Generation of Consumer Price Index
             Philippine Statistics Authority
            *Year-on-year change of average CPI for January to August 2021 vs. 2022

 

GWPI

    

1. Philippines

Inflation in the Philippines for the bottom 30 percent income households remained at 5.9 percent in August 2022. This brings the national average inflation rate from January to August 2022 at 4.3 percent. Inflation in August 2021 was recorded at 5.3 percent. (Tables A and B, and Figure 1)

Faster annual increases were seen in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 8.9 percent;
          b. Clothing and footwear, 2.7 percent;
          c. Housing, water, electricity, gas and other fuels, 7.3 percent;
          d. Furnishings, household equipment and routine household maintenance, 4.3 percent;
          e. Health, 2.6 percent;
          f.  Transport, 10.4 percent;
          g. Recreation and culture, 3.0 percent;
          h. Education, 7.4 percent; and
          i.  Restaurants and miscellaneous goods and services, 4.6 percent.

On the other hand, the index for food and non-alcoholic beverages decreased to 5.5 percent, while the communication index retained its previous month’s annual growth rate at 0.5 percent. (Tables 3 and 4)

Inflation for food at the national level decelerated to 5.7 percent in August 2022, from 6.1 percent in the previous month. In August 2021, food inflation was observed at 5.8 percent. (Table 7)

The lower food inflation in August 2022 was due to the lower annual growth in the indices of fish and seafood at 5.5 percent, from 8.4 percent in the previous month; and vegetables at 2.8 percent, from 8.8 percent. The index for meat also recorded a slower annual rate of increase at 10.4 percent during the month.

In contrast, faster annual increases were observed in the indices of the following food groups during the month:

          a. Rice, 1.1 percent;
          b. Corn, 7.8 percent;
          c. Other cereals, flour, cereal preparation, bread, pasta and other bakery products, 6.5 percent;
          d. Milk, cheese and eggs, 6.8 percent;
          e. Oils and fats, 16.3 percent;
          f.  Fruits, 6.5 percent;
          g. Sugar, jam, honey, chocolate and confectionery, 41.3 percent; and
          h. Food products not elsewhere classified, 3.7 percent. (Table 5)

 

GWPI

 

2. National Capital Region (NCR)

Inflation in NCR increased to 6.1 percent in August 2022, from 5.1 percent in the previous month. In August 2021, inflation in the area also stood at 5.1 percent. (Tables A and 3)

The uptrend of inflation in NCR during the month was mainly attributed to the higher annual increase in the restaurants and miscellaneous goods and services index at 8.9 percent, from 1.9 percent in July 2022. Higher annual hikes were likewise noted in the indices of the following commodity groups:

          a. Alcoholic beverages and tobacco, 8.0 percent;
          b. Transport, 12.5 percent;
          c. Recreation and culture, 0.4 percent; and
          d. Education, 3.5 percent.

Meanwhile, annual increases slowed down in the indices for food and non-alcoholic beverages at 6.3 percent; clothing and footwear at 1.1 percent; and housing, water, electricity, gas and other fuels at 3.0 percent.

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

3. Areas Outside NCR (AONCR)

Inflation in AONCR, on the other hand, slowed down to 5.9 percent in August 2022, from 6.0 percent in the previous month. Inflation in AONCR in August 2021 was posted at 5.3 percent. (Tables A and 3)

The downtrend was primarily brought about by the slower annual increase in the heavily-weighted food and non-alcoholic beverages index at 5.5 percent during the month, from 5.9 percent in July 2022.

On the other hand, higher annual upticks were noted in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 8.9 percent;
          b. Clothing and footwear, 2.7 percent;
          c. Housing, water, electricity, gas and other fuels, 7.5 percent;
          d. Furnishings, household equipment and routine household maintenance, 4.4 percent;
          e. Health, 2.6 percent;
          f.  Transport, 10.3 percent;
          g. Recreation and culture, 3.1 percent;
          h. Education, 7.5 percent; and
          i.  Restaurants and miscellaneous goods and services, 4.4 percent.

The index of communication retained its previous month’s rate at 0.4 percent. (Tables 3 and 4)

Compared with their respective previous month’s rates, six regions in AONCR registered slower inflation in August 2022. Region I (Ilocos Region) had the lowest inflation rate at 4.1 percent, while the highest inflation remained in Region VII (Central Visayas) at 8.6 percent. (Table 4)

Note: CPIs and inflation rates for the bottom 30% income households by region are posted at the PSA website (http://openstat.psa.gov.ph/).

 

DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
 

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