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

Reference Number: 2022-137
Release Date: 05 April 2022

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

Area March 2021 February 2022 March 2022 Year-to-date *
Philippines 5.5 2.7 3.3 3.0
NCR 5.0 1.2 2.8 1.3
AONCR 5.5 2.7 3.3 3.1
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 March 2022 vs. 2021

 

GWPI

    

1. Philippines

The country’s inflation rate for the bottom 30% income households increased to 3.3 percent in March 2022, from 2.7 percent in February 2022. It was posted at 5.5 percent in March 2021. (Table A and Figure 1)

The average inflation for this income group of consumers at the national level from January to March 2022 was registered at 3.0 percent.

The upward trend in the overall inflation for March 2022 was due to higher annual increment in food and non-alcoholic beverages index at 2.8 percent, from 2.1 percent in the previous month.

Moreover, the indices of the following commodity groups also registered higher annual rates during the month:

          a. Alcoholic beverages and tobacco, 4.7 percent;
          b. Housing, water, electricity, gas, and other fuels, 5.1 percent;
          c. Furnishings, household equipment and routine maintenance of the house, 2.6 percent;
          d. Health, 2.7 percent; and
          e. Transport, 3.7 percent.

Meanwhile, slower annual increase was recorded in the index of restaurants and miscellaneous goods and services during the month as it decelerated further to 2.9 percent, from 3.2 percent in the previous month.

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

Food inflation for the bottom 30% income households at the country level moved up at a faster pace of 3.0 percent in March 2022, from 2.3 percent in February 2022. In the same month of the previous year, its annual rate was observed at 5.5 percent. (Table 7)

The index of vegetables registered an annual increase of 1.1 percent, after exhibiting an annual drop of -3.8 percent in February 2022.  Moreover, annual growth rates were higher in the following food groups during the month:

          a. Corn, 12.0 percent;
          b. Other cereals, flour, cereal preparation, bread, pasta and other bakery products, 2.9 percent;
          c. Meat, 6.6 percent;
          d. Fish, 4.2 percent;
          e. Milk, cheese and eggs, 1.8 percent;
          f.  Oils and fats, 6.8 percent;
          g. Fruits, 2.1 percent;
          h. Sugar, jam, honey, chocolate and confectionery, 8.7 percent; and
          i.  Food products not elsewhere classified, 0.7 percent.

On the other hand, slower annual growth was observed in the rice index for this income group of consumers at 0.3 percent, from 0.7 percent in the previous month. (Table 5)

 

Table B. Year-on-Year Inflation Rates of the CPI for the

Bottom 30% Income Households in the Philippines, All Items

January 2018 - March 2022

(2012=100)

GWPI

 

2. National Capital Region (NCR)

Inflation in NCR for the bottom 30% income households, likewise, rose to 2.8 percent in March 2022, from 1.2 percent in February 2022. In March 2021, inflation in the area was posted at 5.0 percent. (Tables A and 3)

Food and non-alcoholic beverages index had an annual gain of 2.5 percent, after showing an annual drop of -0.1 percent in February 2022. In addition, annual increments were higher in the indices of the following commodity groups during the month:

          a. Housing, water, electricity, gas, and other fuels, 4.3 percent;
          b. Furnishings, household equipment and routine maintenance of the house, 1.3 percent;
          c. Transport, 2.7 percent; and
          d. Restaurants and miscellaneous goods and services, 2.4 percent

Meanwhile, annual upticks slowed down in the indices of the following commodity groups during the month:

          a. Alcoholic beverages and tobacco, 4.6 percent;
          b. Health, 1.4 percent; and
          c. Recreation and culture, 0.6 percent.

Meanwhile, the indices of the rest of the commodity groups posted the same annual growth rates as their previous month’s rates. (Tables 3 and 4)

3. Areas Outside NCR (AONCR)

Similarly, inflation for the bottom 30% income households in AONCR also accelerated to 3.3 percent in March 2022. Inflation was lower at 2.7 percent in February 2022, while it was 5.5 percent in March 2021. (Tables A and 3)

The indices of the following commodity groups registered higher annual increments in March 2022:

          a. Food and non-alcoholic beverages, 2.9 percent;
          b. Alcoholic beverages and tobacco, 4.8 percent;
          c. Housing, water, electricity, gas, and other fuels, 5.3 percent;
          d. Furnishings, household equipment and routine maintenance of the house, 2.6 percent;
          e. Health, 2.7 percent; and
          f.  Transport, 3.7 percent.

On the contrary, the annual rate of restaurants and miscellaneous goods and services eased further to 2.9 percent, from 3.2 percent in the previous month. The indices of the rest of the commodity groups retained their respective previous month’s rates. (Tables 3 and 4)

Relative to their inflation in February 2022, 10 regions in AONCR had higher inflation in March 2022. Region XI (Davao Region) remained the region with the highest inflation at 5.0 percent, while the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) posted the lowest inflation at 1.9 percent during this month. (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/).

 

See more at the Consumer Price Index for Bottom 30% Income Households Main page.


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