CONSUMER PRICE INDEX (1988=100) : JUNE 1997 REPORT
Release Date: 04 July 1997
- Measured from a year ago, the national inflation rate increased to 4.8 percent from 4.2 percent last month. The index was estimated at 239.0 in June from 236.0 in May.
- On a month-on-month basis, prices were up by 1.3 percent in June compared to the zero inflation rate in May.
- By Commodity Group, Year-on-Year
- All the commodity groups registered increases in the inflation rates in June. The services index rose by 13.7 percent from 11.7 percent last month. This could be attributed to the increases in tuition fees and prices of school supplies timed with the opening of classes in June along with higher charges in medical and dental services and personal services. The housing and repairs (H&R) index increased by 9.0 percent from 8.8 percent last May; food, beverages and tobacco (FBT), 1.7 percent from 1.2 percent; fuel, light and water (FLW), 8.3 percent from 7.9 percent; clothing, 3.6 percent from 3.4 percent; and miscellaneous items, 1.8 percent from 1.5 percent.
- The inflation rate for food alone moved up to 1.4 percent from 1.0 percent in May.
- For Metro Manila, rates for FBT and H&R were lower by 0.3 percentage point and 0.1 percentage point, respectively. Rates for services increased by 7.6 percentage point, FLW by 0.4 percentage point, clothing by 0.1 percentage point, and miscellaneous items by 0.1 percentage point.
- The inflation rate for food alone slowed down to 4.3 percent from 4.7 percent in the previous month.
- For AOMM, only the services index registered a slower rate at 12.1 percent from 12.6 percent. All the five commodity groups registered higher inflation rates compared to May. The H&R increased by 0.5 percentage point, FBT by 0.6 percentage point, FLW by 0.4 percentage point, clothing by 0.1 percentage point, and miscellaneous items by 0.4 percentage point.
- The inflation rate for food alone was posted at 0.7 percent compared to 0.2 percent last month.
- The year-on-year rate for rice remained at its May level of -3.9 percent. Only two regions, Metro Manila and ARMM, registered positive rates at 0.8 percent and 0.9 percent, respectively. The lowest rate was noted in Bicol region at -9.5 percent.
- Corn prices were still on the downtrend as eleven regions registered negative rates ranging from -0.2 percent (Ilocos) to -14.1 percent (Northern Mindanao). Central Luzon posted the highest rate at 15.1 percent.
- Increases in inflation rates were also noted in other food groups, i. e., cereal preparations, 0.4 percentage point; dairy products, 4.8 percentage points; eggs, 0.1 percentage point; fish, 1.3 percentage points; and fruits and vegetables, 2.5 percentage points. However, inflation for meat went down by 1.5 percentage points; miscellaneous foods, 0.1 percentage point; and meals eaten outside, by 0.2 percentage point.
- By Region, Year-on-Year
- The inflation rate for Metro Manila increased to 6.9 percent from 5.9 percent in May. Areas outside Metro Manila (AOMM) registered a 4.1 percent increase in June from 3.6 percent in May. Ten regions registered higher rates, of which the biggest increment was noted in Central Luzon at 2.6 percentage points followed by Bicol Region at 1.3 percentage points and Cagayan Valley at 1.0 percentage point. The Cordillera Administrative Region (CAR), Southern Tagalog, Northern and Central Mindanao decreased by 0.5 percentage point, 1.3 percentage points, 0.1 percentage point and 0.6 percentage point, respectively. The Autonomous Region of Muslim Mindanao (ARMM) posted the highest inflation rate at 8.1 percent. Eastern Visayas registered the lowest rate at 0.6 percent.
- By Commodity Group, Month-on-Month
- Month-on-month inflation rates were higher for all the commodity groups: FBT, 0.6 percent after it decreased by 0.2 percent last month; services, 6.1 percent from 0.4 percent; H&R, 0.8 percent from 0.2 percent; FLW, 0.4 percent from -0.6 percent; miscellaneous items, from 0.2 percent from 0.1 percent; and clothing, 0.4 percent from 0.1 percent.
- The price of rice continued to decline in June at -0.6 percent but at a slower rate compared to -1.3 percent in May. Eleven regions registered negative month-on-month changes ranging from -0.1 percent (Bicol Region) to -4.1 percent (Western Mindanao). The highest rate was noted in Central Luzon at 1.9 percent.
- Corn prices were higher by 1.2 percent in AOMM while it was cheaper by 2.2 percent in Metro Manila resulting in a 1.1 percent increment in the overall corn prices.
- Cereal preparations posted an increment of 0.7 percent at the national level, 0.5 percent in Metro Manila, and 0.8 percent in AOMM as prices of flour, noodles and biscuits rose in June.
- The price of dairy products in Metro Manila declined by 0.7 percent while it rose by 0.3 percent in AOMM resulting in zero movement in the national index.
- Prices of eggs in AOMM and in the Philippines increased by 0.1 percent and remained unchanged in Metro Manila.
- Fish prices rose by 0.9 percent in the Philippines, 1.5 percent in Metro Manila, and 0.8 percent in AOMM. This was brought about by low volume of fish catch due to unfavorable weather conditions.
- The fruits and vegetables index was up by 3.8 percent in the Philippines, 3.3 percent in Metro Manila and 4.0 percent in AOMM due to higher prices of vegetables affected by frequent rains such as tomatoes, string beans, baguio beans, ampalaya, pechay, onions and others.
- The meat index increased by 0.1 percent in the Philippines, 0.4 percent in AOMM while it decreased by 0.6 percent in Metro Manila.
- Miscellaneous foods increased by 0.1 percent.
- Meals eaten outside also increased by 0.2 percent and 0.4 percent, in AOMM and in the Philippines, respectively
- The services index registered the highest month-on-month rate at 6.1 percent in the Philippines, 12.2 percent in Metro Manila and 3.5 percent in AOMM due to the increases in tuition fees, prices of school supplies and charges in medical, dental, recreational and personal services.
- H & R posted an increment of 0.8 percent in the national index, 1.5 percent in AOMM, and 0.1 percent in Metro Manila. This was due to higher rental rates in some regions.
- FLW increased by 0.4 percent and 0.7 percent in the Philippines and AOMM, respectively, due to increases in water and electricity rates and in prices of firewood and charcoal in many regions. However in Metro Manila, the index was down by 0.4 percent as kerosene and LPG were cheaper in June.
- The miscellaneous items index was also up by 0.2 percent in the Philippines, 0.2 percent in Metro Manila and 0.3 percent in AOMM brought about by price increases in personal care and effects and household operations items.
- The clothing index in Metro Manila was stable at 0.1 percent while it was up to 0.5 percent from 0.2 percent in AOMM. This contributed to 0.4 percent increment in the Philippines from 0.1 percent last month.
- By Region, Month-on-Month
- Prices in Metro Manila increased by 1.9 percent from 0.3 percent last month. The month-on-month rate for services rose to 12.2 percent from 0.3 percent in May. Higher month-on-month increments were also noted in H&R at 0.1 percent from zero last month, miscellaneous items at 0.2 percent from -0.2 percent, and FLW at -0.4 percent from -2.0 percent in May. For clothing the rate remained at 0.1 percent while that of FBT declined by 0.4 percentage point.
- In AOMM, prices were up by 1.0 percent after it decreased by 0.2 percent in May. All the six commodity groups registered higher rates compared to last month i.e., FBT, 0.6 percent from -0.4 percent; services, 3.5 percent from 0.5 percent; H&R, 1.5 percent from 0.3 percent; FLW, 0.7 percent from -0.2 percent; miscellaneous, 0.3 percent from 0.2 percent; and clothing, 0.5 percent from 0.2 percent.
- Except for the Western Mindanao rate which remained at -0.3 percent, other regions posted higher month-on-month rates (all positive). Central Luzon had the highest rate at 3.1 percent followed by Central Visayas at 1.2 percent and Ilocos Region and Cagayan Valley, both at 1.1 percent.
Source: National Statistics Office
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