CONSUMER PRICE INDEX (1988=100) : JANUARY 1998
Release Date: 05 February 1998
- Measured from a year ago, the national inflation rate moved up to 6.4 percent in January from 6.1 percent last month. The index was estimated at 248.0 in January from 245.6 in December.
- On a month-on-month basis, prices were up by 1.0 percent in January from 0.4 percent in December.
- By Commodity Group, Year-on-Year
- All the commodity groups registered higher inflation rates except for housing and repairs (H&R) whose inflation rate slowed down to 10.3 percent from 10.7 percent. The rates for food, beverages and tobacco (FBT) increased to 3.7 percent from 3.1 percent; clothing, 4.2 percent from 4.0 percent; fuel, light and water (FLW), 8.1 percent from 7.9 percent; services, 14.7 percent from 14.1 percent; and miscellaneous items, 3.5 percent from 3.0 percent.
- The inflation rate for food alone was recorded at 3.8 percent in January, higher than the 3.1 percent posted last month. Year-on-year rates for rice went up to 3.0 percent from 2.6 percent; corn, 4.8 percent from 4.6 percent; cereal preparations, 6.6 percent from 6.2 percent; dairy products, 6.2 percent from 5.0 percent; eggs, 4.7 percent from 3.9 percent; fruits and vegetables, -0.4 percent from -2.7 percent; meat, 3.3 percent from 2.9 percent; miscellaneous foods, 3.2 percent from 2.2 percent, and meals eaten outside, 3.1 percent from 2.6 percent. However, a slower rate was noted in the price of fish, 7.9 percent from 8.5 percent.
- In Metro Manila, all the commodity groups were higher in January compared to December. FBT was higher by 0.7 percentage point; clothing, 1.5 percentage points; housing and repairs, 0.5 percentage point, FLW, 1.0 percentage point; services, 2.2 percentage points; and miscellaneous items, 1.2 percentage points.
- The inflation for food alone moved up to 2.6 percent in January from 1.9 percent in December last year. Higher rates were posted in the prices of corn, 5.1 percent from 4.0 percent; dairy products, 7.6 percent from 4.5 percent; eggs, 5.4 percent from 3.5 percent; fruits and vegetables -7.9 percent from -16.4 percent; meat, 3.1 percent from 2.1 percent; and miscellaneous foods, 2.4 percent from 2.1 percent. However, slower rates were recorded in the prices of cereal preparations, 7.9 percent from 9.0 percent; and fish, 12.2 percent from 17.1 percent, while the price of rice went down to -0.5 percent from 2.2 percent.
- For areas outside Metro Manila (AOMM), FBT and miscellaneous items index correspondingly increased over the previous month by 0.5 percentage point and 0.4 percentage point. Four of the commodity groups posted lower rates: clothing, FLW, and services, by 0.1 percentage point; and housing and repairs, by 1.3 percentage points.
- The inflation rate for food alone rose to 4.1 percent from 3.5 percent in December.
- The inflation rate for rice moved up to 3.5 percent from 2.6 percent last month. Ten regions posted higher rates, the biggest increase was 2.3 percentage points in Western Visayas.
- All other food groups recorded higher rates in January compared to rates last month. Prices of corn and fish were up by 0.2 percentage point; cereal preparations, by 0.7 percentage point; fruits and vegetables, by 0.4 percentage point; dairy products and eggs, by 0.6 percentage point; meat, by 0.1 percentage point; miscellaneous foods, by 1.2 percentage points; and meals eaten outside, by 0.9 percentage point.
- By Region, Year-on-Year
- The inflation rate for Metro Manila went up to 7.8 percent from 6.9 percent last month.
- AOMM registered a rate of 6.0 percent in January from 5.8 percent last month. The biggest increment was noted in ARMM at 3.4 percentage points followed by CAR at 1.0 percentage point and Bicol Region at 0.9 percentage point. ARMM recorded the highest rate at 10.6 percent while Eastern Visayas and Western Mindanao recorded the lowest rate at 3.9 percent.
- By Commodity Group, Month-on-Month
- All commodity groups posted higher month-on-month inflation rates. FBT increased by 0.8 percent from 0.2 percent; clothing, 0.6 percent from 0.4 percent; H&R, 1.4 percent from 0.5 percent; FLW, 1.0 percent from 0.6 percent; services, 1.3 percent from 1.0 percent; and miscellaneous items, 0.8 percent from 0.5 percent.
- The price of rice increased in January by 0.9 percent compared to -1.0 percent last month. Eleven regions posted month-on-month changes ranging from 0.1 percent (Cagayan Valley) to 3.4 percent (Central Luzon). The lowest rate was noted in Western Mindanao at -2.1 percent.
- The national and AOMM indices for corn continued to decline as nine regions posted negative rates. Central Visayas registered the biggest decrease at -1.7 percent. The price of corn in Metro Manila was higher by 1.0 percent, slower than the rate the previous month.
- Cereal preparations were priced higher by 1.1 percent at the national level and in AOMM and 0.9 percent in Metro Manila as prices of flour, bread, biscuits and noodles increased in January.
- Prices of dairy products were still on the uptrend as the national index posted 1.6 percent higher during the month, 3.5 percent in Metro Manila, and 1.0 percent in AOMM as prices of milk increased in Metro Manila and in all the regions.
- Prices of eggs increased by 0.7 percent in the Philippines, 0.5 percent in Metro Manila and 0.8 percent in AOMM.
- Fish prices declined in Metro Manila (-2.6%) while it picked up in AOMM (2.1%). These resulted in a 1.4 percent increase for the Philippines.
- Higher price quotations for fruits and vegetables were registered in ten regions as AOMM registered a 0.6 percent increase this month. In Metro Manila, the index dropped by -2.0 percent as supply of fruits was adequate in various wet markets. This resulted in a 0.2 percent increase in the national index.
- The meat index declined by -0.5 percent in Metro Manila while it increased by 0.5 percent in AOMM resulting in a 0.2 percent increase in the national index.
- The miscellaneous foods index increased by 0.9 percent in the Philippines as prices of garlic, sugar, coffee and seasonings were higher in Metro Manila and in AOMM.
- Meals eaten outside also went up by 0.9 percent and 1.4 percent in the Philippines and AOMM, respectively.
- The H&R index registered the highest month-on-month rate of 1.4 percent in the national index due to higher rental rates and increased prices of selected construction materials such as cement, gravel and plywood.
- The services index rose by 1.3 percent in the Philippines and 2.3 percent in Metro Manila. This was due to higher prices of kerosene, gasoline and diesel. Along with these, higher admission fees for movies, higher telephone rates, haircut charges, and increased wages for domestic helpers also contributed to the uptrend. In AOMM, the index increased by 0.8 percent at a slower rate from the 0.9 percent last month due to the increase in the prices of kerosene, gasoline, diesel, and educational supplies. Higher admission fee in movies and hospital and medical charges were also noted in many of the regions.
- The FLW index also went up by 1.0 percent in the Philippines and in AOMM brought about by the increase in the prices of firewood, charcoal, kerosene and LPG along with the higher charges for electricity and water in most of the regions. Although at a slower rate, FLW index in Metro Manila also increased by 0.9 percent. This was mainly due to higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity.
- Increases in the prices of soap, detergent powder, toothpaste, aluminum foil, garden hose, and insecticide in Metro Manila caused the miscellaneous items group to increase by 0.8 percent in January from 0.5 percent last month.
- The clothing index posted a 0.6 percent increment in the Philippines, 1.8 percent in Metro Manila and 0.3 percent in AOMM. This was due to price increases in footwear and ready-made apparel.
- By Region, Month-on-Month
- Prices in Metro Manila moved up by 0.9 percent from 0.8 percent last month. Higher rates were recorded in clothing, 1.4 percentage points; H&R, 1.1 percentage point; services, 1.0 percentage point; and miscellaneous items, 0.6 percentage point. However, FBT declined by 1.4 percentage points and FLW, by 0.3 percentage point.
- In AOMM, prices rose by 1.0 percent from 0.3 percent last month. Four of the commodity groups registered higher rates, i.e. FBT, 1.1 percentage point; H&R, 0.9 percentage point; FLW, 0.7 percentage point; and miscellaneous items, 0.3 percentage point. Growth rates recorded in clothing and services were lower by 0.1 percentage point. Twelve regions posted higher month-on-month rates with the highest rate recorded in ARMM at 3.9 percent while the lowest was in Cagayan Valley at zero growth.
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