Summary Inflation Report Consumer Price Index (1994=100) : April 2002
Release Date: 06 May 2002
APRIL AND MARCH 2002
|Inflation Rates, Philippines, All Items|
On an annual basis, the general level of prices increased by 3.6 percent in April, similar to the inflation rate posted in March. Inflation a year ago was 6.8 percent.
Inflation in the National Capital Region (NCR) slipped to 4.9 percent in April from 5.1 percent in March primarily due to a 0.5 percentage point reduction in the inflation rate of food, beverages and tobacco (FBT). Slower rates of all other commodity groups except for housing and repairs (H&R) also contributed to the downward movement.
Inflation rate in Areas Outside the National Capital Region (AONCR) slightly went up to 3.1 percent in April from 3.0 percent in March brought by a 0.2 percentage point increment in the inflation rate of FBT.
Month-on-month inflation remained at 0.2 percent in April. The rise in the prices of fuel, light and water (FLW) and services were tempered by the slowdown in the inflation rates of FBT, clothing, and miscellaneous items.
CONSUMER PRICE INDEX
>By Region, Year-on-Year
*The inflation rate for the National Capital Region (NCR) slid by 0.2 percentage point at 4.9 percent in April from 5.1 percent in March.
*Inflation in Areas Outside the National Capital Region (AONCR) slightly went up to 3.1 percent in April from 3.0 percent in March. Seven regions recorded higher inflation rates. The biggest increase at 0.4 percentage point was observed in Southern Tagalog followed by Cagayan Valley and Western Visayas at 0.3 percentage point. The highest rate was posted in Western Visayas and Eastern Visayas at 4.1 percent while the lowest rate at 1.6 percent was still registered in Cagayan Valley.
>By Commodity Group, Year-on-Year
The inflation rates for FBT, clothing and services were pegged at their corresponding March rates of 2.5 percent, 2.8 percent and 4.9 percent. On the other hand, inflation for H&R decelerated to 5.1 percent in April from 5.3 percent in March; FLW, 8.1 percent from 8.3 percent; and miscellaneous items, 1.9 percent from 2.2 percent.
The inflation rate for food alone remained at 2.3 percent in April. Higher rates were noted in the prices of corn, 1.8 percent from 0.3 percent; fruits and vegetables, 0.7 percent from -0.2 percent; and miscellaneous foods, 3.6 percent from 3.2 percent. Slower rates were however seen in the prices of rice, 0.4 percent in April from 0.5 percent in March; cereal preparations, 3.0 percent from 3.1 percent; dairy products, 6.5 percent from 6.8 percent; eggs, 5.4 percent from 5.9 percent; fish, 4.2 percent from 4.9 percent; and meat, 0.9 percent from 1.2 percent.
In NCR, except for H&R whose inflation rate slightly increased to 7.2 percent in April from 7.1 percent in March, the inflation rates of all the other commodity groups registered slowdowns. The rate of FBT decreased by 0.5 percentage point; clothing, 0.4 percentage point; FLW, 0.8 percentage point, services, 0.1 percentage point; and miscellaneous items, 0.2 percentage point.
The inflation rate for food alone slowed down to 1.5 percent in April from 2.0 percent in March. Lower rates were noticed in the prices of cereal preparations, 3.7 percent in April from 3.8 percent in March; dairy products, 7.6 percent from 7.9 percent; eggs, 7.3 percent from 9.7 percent; and fruits and vegetables, 0.6 percent from 2.6 percent. Meanwhile, price decreases were posted in rice, -0.4 percent from 0.3 percent; corn, -14.2 percent from -3.7 percent; fish, -3.1 percent from -0.7 percent; and meat, -1.2 percent from -1.4 percent. Prices of miscellaneous foods rose to 4.7 percent from 3.9 percent.
In AONCR, inflation rate for FBT picked up to 2.7 percent in April from 2.5 percent in March. On the other hand, the inflation rate for H&R slipped to 3.8 percent from 4.1 percent; services, 5.0 percent from 5.1 percent; and miscellaneous items, 2.3 percent from 2.5 percent. The indices of clothing and FLW moved at their respective March rates of 2.4 percent and 1.5 percent.
Inflation rate for food alone advanced to 2.6 percent in April from 2.4 percent in March.
The price of rice was up by 0.5 percent in April, the same rate recorded in March. Five regions registered higher rates. The biggest increment at 1.9 percentage points was noted in Western Visayas followed by Western Mindanao at 0.7 percentage point.
The price of corn went up by 2.1 percent in April from 0.4 percent in March; cereal preparations, 2.9 percent from 2.8 percent; eggs, 4.8 percent from 4.7 percent; fruits and vegetables, 0.8 percent from -1.0 percent; and miscellaneous foods, 3.1 percent from 2.8 percent. However, slowdowns were observed in the prices of dairy products, 6.0 percent from 6.4 percent; fish, 5.9 percent from 6.1 percent; and meat, 1.8 percent from 2.3 percent
>By Region, Month-on-Month
The month-on-month inflation rate in NCR dropped to 0.2 percent in April from 0.6 percent in March as prices of FBT items recorded a zero growth from an uptrend of 1.2 percent in March. Prices of miscellaneous items also remained stable during the month. In addition, the price of clothing moved at a slower rate of 0.1 percent from 0.2 percent. Meanwhile, the rate of FLW accelerated to 1.0 percent in April from 0.6 percent in March and services, 0.4 percent from 0.1 percent.
Prices in AONCR slightly grew to 0.2 percent in April from 0.1 percent in March as the rates of FBT and services correspondingly moved up by 0.1 percent and 0.3 percent from their respective March rates of zero growth and 0.2 percent. On the other hand, lower rates were noted in clothing and H&R, 0.1 percent from their corresponding March rates of 0.3 percent and 0.2 percent. FLW and miscellaneous items maintained their respective March rates of 0.4 percent and 0.2 percent. The highest month-on-month rate was observed in Western Visayas at 0.5 percent while ARMM registered the lowest rate at–0.2 percent.
>By Commodity Group, Month-on-Month
The month-on-month inflation remained at 0.2 percent in April as upward adjustments were seen in the prices of FLW at 0.6 percent from 0.5 percent and services, 0.3 percent from 0.1 percent. These were however, offset by the slowdowns in the prices of clothing and miscellaneous items at 0.1 percent in April from 0.2 percent in March. Moreover, prices of H&R items moved at their March rate of 0.2 percent.
Higher prices of coffee, calamansi, cooking oil and other miscellaneous foods pushed up the group’s index in the Philippines and AONCR by 0.5 percent and in NCR, 0.8 percent.
Bigger demand of meat due to the observance of fiestas in many areas raised the index in NCR and AONCR by 0.8 percent and 0.1 percent respectively from their corresponding last month’s rates of -1.2 percent and -0.1 percent. Thus, the national index advanced by 0.3 percent from -0.4 percent.
Despite the extreme heat experienced during the month, the supply of vegetables continued to come in from the production points. Price discounts were thus noted in the prices of vegetables in the markets. In addition, the continuous deliveries of the fruits in season during the month brought down their prices. Thus, the group’s index decreased in the three areas: Philippines, -0.9 percent in April from 2.3 percent in March; NCR, -0.1 percent from11.2 percent; and AONCR, -1.2 percent from -0.4 percent.
Prices of corn in the Philippines and AONCR were correspondingly up by 2.0 percent and 2.1 percent in April. On the other hand, prices of corn in NCR reduced by 2.9 percent.
The continued abundant supply of rice in NCR brought further declines in its price at -0.5 percent this month from -0.1 percent. While negative rates were observed in many regions, the price of rice in AONCR increased by 0.2 percent as significant price mark-ups were recorded in Western Visayas at 1.5 percent; Central Visayas, 1.0 percent; Bicol, 0.6 percent; and Southern Tagalog, 0.5 percent.
*Prices of medicines, gasoline, diesel, selected school supplies and medical goods were up during the month. Increases in airplane fares and higher charges for personal services were also noted. All these factors contributed to a 0.3 percent uptick in the services index for the whole country and AONCR and 0.4 percent in NCR.
*Increments in the price of kerosene in many regions including NCR along with higher purchased power adjustment (PPA) for electricity in NCR pulled up the index of FLW in the Philippines by 0.6 percent; NCR, 1.0 percent; and AONCR, 0.4 percent.
*Higher rental rates posted in some regions including NCR along with the price add-ons in selected construction materials raised the H&R index in the Philippines and NCR by 0.2 percent and in AONCR, 0.1 percent.
The survey results from the following provinces were not received as of May 4, 2002:
- Sulu – 1st and 2nd phase
- Lanao del Sur – 2nd phase
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