CONSUMER PRICE INDEX (1988=100) : NOVEMBER 1997 REPORT
Release Date: 05 December 1997
Measured from a year ago, the national inflation rate went up to 6.5 percent in November from 5.7 percent in October. The index was estimated at 244.7 in November from 243.2 in October.
On a month-on-month basis, prices increased by 0.6 percent in November from 0.3 percent in October.
- By Commodity Group, Year-on-Year
- All commodity groups registered higher inflation rates in November compared to October except for clothing whose inflation rate went down to 4.2 percent from 4.3 percent. The rates for food, beverages and tobacco (FBT) increased to 3.6 percent from 2.4 percent; housing and repairs (H&R), 10.7 percent from 10.3 percent; fuel, light and water (FLW), 8.8 percent from 8.7 percent; services, 15.3 percent from 14.6 percent and miscellaneous, 2.7 percent from 2.4 percent.
- The inflation rate for food alone was recorded at 3.7 percent in November, higher than the 2.5 percent posted in October. Year-on-year rates for rice went up to 3.4 percent from 0.8 percent; corn, 4.4 percent from 2.9 percent; cereal preparations, 6.3 percent from 5.3 percent; dairy products, 4.9 percent from 4.3 percent; eggs, 3.2 percent from 1.9 percent, fruits and vegetables, zero growth from -1.5 percent; meat, 3.8 percent from 2.9 percent; miscellaneous foods, 2.0 percent from 1.1 percent; and meals eaten outside, 2.8 percent from 2.7 percent. However, slower rate was noted in the price of fish, 8.1 percent from 8.4 percent.
- In Metro Manila, the rates for FBT and services were lower by 0.3 percentage point each along with FLW at 0.9 percentage point. However, the rates for clothing, H&R and miscellaneous items were correspondingly higher by 0.4 percentage point, 0.3 percentage point and 0.7 percentage point.
- The inflation for food alone slowed down to 2.3 percent in November from 2.6 percent in October. Fish and fruits and vegetables indexes recorded lower rates of 11.3 percent and -14.0 percent, respectively from their corresponding rates of 14.8 percent and -7.3 percent in October. All other groups had higher rates compared to same month last year. The price of rice went up to 4.8 percent from 2.5 percent; corn, 3.4 percent from 1.5 percent; cereal preparations, 9.9 percent from 9.3 percent; dairy products, 3.9 percent from 3.4 percent; eggs, 1.8 percent from -3.0 percent; meat, 4.3 percent from 2.5 percent; and miscellaneous food items, from 1.7 percent from 1.3 percent.
- For areas outside Metro Manila (AOMM), only the clothing index registered a lower rate than the previous month by 0.2 percentage point. Other groups registered higher rates, i.e., FBT, by 1.5 percentage points; H&R, by 0.3 percentage point; FLW, by 0.4 percentage point; services, by 1.0 percentage point; and miscellaneous items, by 0.2 percentage point.
- The inflation rate for food alone went up to 4.0 percent from 2.4 percent in October.
- The inflation rate for rice rose to 3.2 percent from 0.6 percent in October. Except for Central Luzon, the other regions posted higher rates, the highest of which was 6.3 percent recorded in Central Mindanao while ARMM registered the lowest rate at -1.8 percent.
- Corn prices also went up as ten regions posted positive rates. Central Luzon registered the highest rate at 18.1 percent, followed by Western Mindanao at 14.2 percent and Western Visayas at 6.2 percent. The lowest was recorded in Central Mindanao at -3.2 percent.
- By Region, Year-on-Year
- The inflation rate for Metro Manila remained at its previous month's level of 7.0 percent.
- AOMM registered a rate of 6.4 percent from 5.2 percent in October. Except for Western Visayas which remained at its previous month's level of 5.3 percent, all other regions registered higher rates. The biggest increment was noted in Ilocos region at 3.2 percentage points followed by ARMM at 2.4 percentage points and Northern Mindanao at 1.9 percentage points. Central Luzon posted the highest inflation rate at 8.5 percent while Cordillera Administrative Region (CAR) recorded the lowest rate at 3.9 percent.
- By Commodity Group, Month-on-Month
- Higher month-on-month inflation rates were recorded in FBT, 0.3 percent from zero growth; H&R, 0.8 percent from 0.7 percent; FLW, 1.3 percent from 0.8 percent, and services, 1.6 percent from 0.7 percent. The rate was lower in clothing at 0.3 percent from 0.7 percent. The rate for miscellaneous items remained at 0.5 percent.
- The price of rice continued to decline in November at -0.5 percent but at a slower rate compared to -0.7 percent last month. Eight regions registered negative month-on-month changes ranging from -0.3 percent (Northern Mindanao) to -2.3 percent (Western Visayas). The highest rate was noted in Southern Tagalog at 1.1 percent.
- Corn prices were higher by 0.4 percent in Metro Manila while it was cheaper by -0.5 percent in AOMM resulting to -0.5 percent decline in the overall corn prices.
- Cereal preparations posted an increment of 1.1 percent at the national level, 0.5 percent in Metro Manila, and 1.4 percent in AOMM as prices of flour, bread, biscuits and noodles went up in November.
- Prices of dairy products were higher by 0.9 percent in the national index, 0.6 percent in Metro Manila and 1.0 percent in AOMM as prices of milk continued to increase in many regions.
- Prices of eggs in the Philippines and Metro Manila increased by 0.4 percent and 0.5 percent in AOMM.
- Fish prices declined in Metro Manila (-2.7%) while it picked up in AOMM (0.9%). Fish supply was abundant in various Metro Manila wet markets. These resulted to a 0.3 percent increase for the Philippines.
- Higher price quotations for fruits and vegetables were registered in most regions except in Western Visayas as AOMM registered a 2.5 percent increase. In Metro Manila, the group's index dropped by -5.5 percent due to continuous inflow of vegetables from traditional sources. Sizable increase in the volume of arrivals of native fruits was also noted towards the end of the month. Allegedly, the high temperature experienced as the effect of the El Nino phenomenon hastened the maturity of fruits which are intended to be marketed during the holidays. The national index for the group went up by 1.1 percent.
- Higher prices of chicken in Metro Manila and in many regions caused the meat index to increase by 0.4 percent in the Philippines, 0.9 percent in Metro Manila and 0.3 percent in AOMM.
- The miscellaneous foods index increased by 0.6 percent. In AOMM, the group's index rose by 0.9 percent due to continued increase in the prices of sugar, coffee and seasonings while Metro Manila had a -0.1 percent decrement as the price of ginger still declined.
- Meals eaten outside also went up by 0.3 percent and 0.5 percent in the Philippines and AOMM, respectively.
- The services index registered the highest month-on-month rate of 1.6 percent in the national index due to increases in transport fares in airplane, jeepney and bus. Along with these, increases in the prices of bond paper, books and magazines were noted in Metro Manila while in AOMM increases in charges for medical and personal services, prices of drugs and medicines and wages of domestic helper were also observed.
- The FLW index rose by 1.3 percent in the Philippines and 1.1 percent in AOMM. This was due to the increase in the electricity and water rates and in the prices of LPG, charcoal and firewood in most regions. In Metro Manila, FLW increased by 1.9 percent although at a slower rate from the 2.1 percent in October due to higher currency exchange rate adjustment and purchased power adjustment for electricity.
- The clothing index recorded a 0.3 percent increase in the Philippines, 0.2 percent in AOMM and 0.4 percent in Metro Manila. This was mainly due to the increase in the prices of shoes and sewing charges.
- The H&R index registered a 0.8 percent increment in the Philippines, 0.4 percent in Metro Manila and 1.2 percent in AOMM. This was brought about by higher rental rates and increase in the prices of some construction materials such as gravel, cement, sand, plywood, lumber and common wire nails along with increases in the wages for carpenter, electrician and plumber.
- Miscellaneous group retained its previous month's rates of 0.5 percent in the Philippines and AOMM and 0.4 percent in Metro Manila.
- By Region, Month-on-Month
- Prices in Metro Manila moved up by 0.2 percent but at a slower rate compared to 0.6 percent increase last month. FBT declined to -0.6 percent from 0.4 percent increase in October. Lower rates were recorded in H&R, by 0.3 percentage point and FLW, by 0.2 percentage point. However, clothing and services posted higher month-on-month rates of 0.4 percent and 1.1 percent in October, respectively. Miscellaneous group remained at its previous month's rate of 0.4 percent.
- In AOMM, prices were up by 0.8 percent from 0.2 percent last month. Except for clothing index which posted lower rate at 0.2 percent from 0.9 percent in October, the other four commodity groups registered higher rates, i.e., FBT, 0.6 percentage point; H&R, 0.4 percentage point; FLW, 0.7 percentage point; and services, 1.0 percentage point. Miscellaneous group retained its previous month's level at 0.5 percent. Eleven regions posted higher month-on-month rates with the highest rate recorded in ARMM at 3.4 percent while the lowest in Western Visayas at -0.1 percent.
Source: National Statistics Office
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