CONSUMER PRICE INDEX (1988=100) : JULY 1997 REPORT
Release Date: 05 August 1997
- Measured from a year ago, the national inflation rate increased by 4.8 percent in July, which was the same rate posted last month. The index was estimated at 239.3 in July from 239.0 in June.
- On a month-on-month basis, prices increased by 0.1 percent in July from 1.3 percent last month.
- By Commodity Group, Year-on-Year
- Among the commodity groups, food, beverages and tobacco (FBT) and fuel, light and water (FLW) registered lower rates in July at 1.5 percent and 7.5 percent compared to their corresponding rates of 1.7 percent and 8.3 percent in June. Other groups registered higher inflation rates in July. The rates for services increased to 14.1 percent from 13.7 percent; housing and repairs (H&R), 9.4 percent from 9.0 percent; clothing, 3.7 percent from 3.6 percent and miscellaneous items, 2.0 percent from 1.8 percent.
- The inflation rate for food alone slowed down to 1.3 percent in July from 1.4 percent last month.
- In Metro Manila, the rates for FBT, FLW, clothing and miscellaneous items were lower by 0.5 percentage point, 0.5 percentage point, 0.3 percentage point and 0.1 percentage point, respectively. However, rates for services and H&R were correspondingly higher by 0.2 percentage point and 0.6 percentage point.
- The inflation for food alone declined to 3.8 percent from 4.3 percent in June.
- For Areas outside Metro Manila (AOMM), the rates for FBT and FLW were lower in July by 0.1 percentage point and 0.9 percentage point, respectively. The services index rose by 12.6 percent from 12.1 percent last month; H&R, 11.2 percent from 11.0 percent; clothing, 4.0 percent from 3.7 percent; and miscellaneous items, 2.3 percent from 2.1 percent.
- The inflation for food alone remained at its June level of 0.7 percent.
- The inflation rate for rice inched up to -3.3 percent from -3.9 percent in June. Only two regions, Metro Manila and Central Luzon, posted positive rates of 2.3 percent and 2.1 percent, respectively. Cagayan Valley registered the lowest rate of -9.7 percent.
- Corn prices continued to decline as twelve regions posted negative rates. Eastern Visayas registered the lowest rate at -18.1 percent, followed by Southern Mindanao at -12.1 percent and Northern Mindanao at -11.5 percent. The highest rate was registered in Central Luzon at 13.2 percent.
- Other food groups registered lower growth compared to their levels the previous month. The rate for cereal preparations was lower by 0.3 percentage point; dairy products, 0.2 percentage point; eggs, 0.3 percentage point; fish, 0.4 percentage point; fruits & vegetables, 0.6 percentage point; meat, 1.0 percentage point; and meals eaten outside, 0.1 percentage point. The inflation rate for miscellaneous food remained at its June level of 0.6 percent.
- By Region, Year-on-Year
- The inflation rate for Metro Manila for July was at its June level of 6.9 percent while that for AOMM slowed down to 4.0 percent from 4.1 percent in June. Eight regions registered lower rates with the biggest drop noted in Central Visayas at 0.5 percentage point. ARMM registered the highest rate at 7.7 percent while Eastern Visayas registered the lowest rate at 0.4 percent.
- By Commodity Group, Month-on-Month
- Four commodity groups registered lower month-on-month inflation rates. FBT decreased by -0.2 percent after it increased by 0.6 percent last month; FLW, -0.3 percent from 0.4 percent; clothing, 0.2 percent from 0.4 percent; and services, 0.8 percent from 6.1 percent. However, H&R increased by 0.9 percent from 0.8 percent last month. The rate for miscellaneous items remained at its June level of 0.2 percent.
- Rice prices increased by 0.4 percent from the decrease of -0.6 percent last month. Nine regions including Metro Manila registered price increases with the highest rate in Western Mindanao at 3.2 percent.
- Corn prices declined by -0.7 percent after it increased by 1.1 percent in June as Metro Manila registered an increase of 0.9 percent in corn prices while it decreased by -0.8 percent in AOMM.
- Cereal preparations posted lower rates of 0.2 percent in the national level, 0.1 percent in Metro Manila and 0.2 percent in AOMM from their corresponding levels of 0.7 percent, 0.5 percent and 0.8 percent in June.
- The price of dairy products declined by -0.5 percent in Metro Manila and -0.1 percent in AOMM contributing to the -0.2 percent drop in the overall index.
- Eggs were generally sold at prices 0.2 percent higher in Metro Manila and 0.5 percent in AOMM resulting in a 0.5 percent increment in the national index.
- Fish prices declined in Metro Manila (-1.1%) and AOMM (-0.4%) resulting in a -0.5 percent dip for the Philippines due to adequate supply.
- The fruits and vegetables index decreased by -1.9 percent in the Philippines with -6.7 percent in Metro Manila and -0.8 percent in AOMM as sufficient supply was observed in Metro Manila wet markets and other provincial trading centers.
- The meat index declined by -0.9 percent in Metro Manila due to price cuts in chicken while it increased by 0.2 percent in AOMM as pork was sold at higher prices. These resulted in a drop of -0.1 percent in the national index.
- The miscellaneous foods index rose by 0.3 percent. AOMM prices registered an increase of 0.4 percent while those in Metro Manila had zero movement.
- Meals eaten outside increased by 0.1 percent in the Philippines and in AOMM.
- The H&R index registered the highest month-on-month rate at 0.9 percent due to increase in rental charges and some carpentry materials such as plywood, common wire nails, and nipa shingles.
- Services registered an increment of 0.8 percent in the overall index, 0.2 percent in Metro Manila and 1.0 percent in AOMM due to the increase in tuition fees, higher prices of school supplies and magazines, and higher charges in medical, dental and personal services.
- The FLW index declined by -0.3 percent in the national level, -0.5 percent in Metro Manila and -0.2 percent in AOMM as prices of LPG, firewood, charcoal, water and electricity charges decreased in many regions.
- Miscellaneous items registered a 0.2 percent price increase in the Philippines and 0.3 percent in AOMM, retaining their previous month rates. This was due to price increases in items for household operations and personal care and effects. However, in Metro Manila the index registered a decline of -0.2 percent from the increase of 0.2 percent last month.
- The clothing index increased by 0.2 percent in the Philippines resulting from the -0.2 percent and 0.3 percent price movements in Metro Manila and AOMM, respectively.
- By Region, Month-on-Month
- Prices in Metro Manila were relatively stable as the index registered zero movement after it increased by 1.9 percent last month. Negative rates were noted in FBT (-0.9%), FLW (-0.5%), miscellaneous items (-0.2%) and clothing (-0.2%). However, the increase in rental rates raised the H&R index by 0.9 percent and higher medical charges and wages for household help pushed the services index by 0.2 percent.
- In AOMM, prices were up by 0.2 percent from 1.0 percent in June. Except for the miscellaneous index which was at its June level of 0.3 percent, all the other groups registered lower rates compared to last month. The FBT recorded a zero growth in July from 0.6 percent last month; services, 1.0 percent from 3.5 percent ; H&R, 0.8 percent from 1.5 percent; clothing, 0.3 percent from 0.5 percent; and FLW, -0.2 percent from 0.7 percent. Ten regions registered lower month-on-month rates with the lowest rate noted in CAR at -0.3 percent while the highest was in Central Luzon at 0.8 percent.
Source: National Statistics Office
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