Summary Inflation Report Consumer Price Index (1994=100) : April 2003
Release Date: 05 May 2003
APRIL AND MARCH 2003
|Inflation Rates, Philippines, All Items|
Year-on-year inflation slightly slowed down to 2.8 percent in April from 2.9 percent in March due to the deceleration in the inflation rates of fuel, light and water (FLW) and services. Inflation a year ago was 3.6 percent.
Similarly, inflation rate in the National Capital Region (NCR) slid by 0.2 percentage point to 2.9 percent in April from 3.1 percent in March. This was brought about by the lower inflation rates posted in the indices of housing and repairs (H&R), FLW and services.
Inflation rate in Areas Outside the National Capital Region (AONCR) slightly improved to 2.8 percent in April from 2.9 percent in March as the inflation rates of food, beverages and tobacco (FBT), clothing and miscellaneous items eased out.
Month-on-month inflation remained at its March figure of 0.1 percent. The slower movement in the prices of clothing, H&R, FLW and services items offset the increases in the prices of FBT items.
CONSUMER PRICE INDEX
> By Region, Year-on-Year
The inflation rate in NCR slightly slowed down by 0.2 percentage point to 2.9 percent in April from 3.1 percent in March.
Inflation in AONCR at 2.8 percent in April was slightly slower than the 2.9 percent in March. Only four regions posted lower inflation rates. The biggest decrease was noticed in Western Visayas and Southern Mindanao at 0.4 percentage point. The lowest rate at 2.0 percent was observed in Southern Tagalog and Eastern Visayas while the highest was still in Northern Mindanao at 5.3 percent.
> By Commodity Group, Year-on-Year
Inflation rates for FLW and services correspondingly slowed to 5.0 percent and 6.5 percent in April from their respective March rates of 5.2 percent and 6.7 percent. However, inflation for miscellaneous items slightly went up to 1.7 percent from 1.6 percent. Inflation for FBT remained at 1.8 percent. For the third month, the rates for clothing and H&R were at 2.0 percent and 2.7 percent, respectively.
The inflation rate for food alone slightly eased to 1.7 percent in April from 1.8 percent in March as the inflation for fruits and vegetables still posted a negative rate of 0.1 percent. In addition, slower rates were registered in the prices of rice, 3.1 percent from 3.2 percent; corn, 0.9 percent from 1.8 percent; fish, 0.7 percent from 1.0 percent; and miscellaneous foods, 2.1 percent from 2.5 percent. On the other hand, higher rates were noticed in the prices of cereal preparations, 4.4 percent from 4.2 percent; dairy products, 3.1 percent from 2.9 percent; and eggs, 0.4 percent from -0.1 percent. Inflation for meat was zero from -0.3 percent.
In NCR, inflation rates for H&R, FLW and services correspondingly slowed down to 1.1 percent, 4.9 percent and 7.8 percent in April from their respective March rates of 1.3 percent, 6.1 percent and 8.3 percent. Meanwhile, inflation for FBT increased to 1.6 percent from 1.5 percent, clothing, 2.5 percent from 2.2 percent; and miscellaneous items, 1.6 percent from 1.2 percent.
The inflation rate for food alone in NCR slightly picked up to 1.6 percent in April from 1.5 percent in March. Faster rates were registered in the prices of rice, 3.6 percent from 2.6 percent; corn, 3.1 percent from 2.1 percent; cereal preparations, 6.3 percent from 5.6 percent; dairy products, 4.0 percent from 3.6 percent; eggs, -1.9 percent from 3.5 percent; fish, -0.6 percent from -1.0 percent; and meat, -0.8 percent from -1.0 percent. However, prices of miscellaneous foods slowed to 2.5 percent from 3.1 percent while prices of fruits and vegetables dropped to -0.3 percent from 0.4 percent.
In AONCR, the inflation rate for FBT decelerated to 1.7 percent in April from 1.9 percent in March; clothing, 1.9 percent from 2.0 percent; and miscellaneous items, 1.7 percent from 1.8 percent. However, inflation for H&R and FLW correspondingly went up to 3.8 percent and 5.1 percent from their respective last month's rates of 3.6 percent and 4.7 percent. Inflation for services items still remained at 5.9 percent.
Inflation rate for food alone moved down to 1.7 percent in April from 1.9 percent in March.
The price increase of rice slowed down to 3.0 percent in April from 3.3 percent in March as eight regions posted lower inflation rates. The biggest decline at 3.2 percentage points was noted in Central Visayas.
Negative rates were recorded in the prices of fruits and vegetables, -0.1 percent from -0.3 percent. In addition, prices of corn eased to 0.9 percent from 1.9 percent; fish, 1.0 percent from 1.5 percent; and miscellaneous foods, 2.0 percent from 2.2 percent. Meanwhile, prices of dairy products increased by 2.8 percent from 2.7 percent.
Prices of cereal preparations and eggs moved at their corresponding March rates of 3.6 percent and 1.0 percent.
Price movement in miscellaneous foods remained at its February rate of 2.2 percent.
> By Region, Month-on-Month
The month-on-month inflation in NCR slightly went down to 0.1 percent in April from 0.2 percent in March mainly brought about by the 0.2 percent decline in the prices of FLW items from 2.1 percent. Prices of clothing and miscellaneous items still moved at their previous month's rate of 0.4 percent. Prices of FBT items went up to 0.1 percent from -0.5 percent while prices of H&R and services items generally remained stable as they posted a zero growth from their corresponding last month's rates of 0.1 percent and 0.7 percent.
Price movements in AONCR still remained at 0.1 percent in April. Prices of clothing and services items maintained their corresponding last month's growth rates of 0.1 percent and 0.3 percent. On the other hand, prices of H&R items picked up to 0.2 percent from 0.1 percent while prices of FLW items slowed down to 0.8 percent from 1.0 percent. FBT's prices generally remained stable as the group's index recorded a zero growth from -0.1 percent. The highest month-on-month rate at 0.5 percent was observed in Northern Mindanao while Central Visayas, Eastern Visayas and ARMM have the lowest rate at -0.1 percent.
> By Commodity Group, Month-on-Month
The month-on-month inflation remained at 0.1 percent in April as the upward adjustment seen in the prices of FBT items at 0.1 percent from -0.3 percent were offset by the slowdowns in the prices of items in other major groups. Price movements were recorded in clothing items at 0.1 percent from 0.2 percent; FLW items, 0.4 percent from 1.4 percent; and services items, 0.2 percent from 0.5 percent. Moreover, prices of H&R and miscellaneous items moved at their March rate of 0.2 percent.
The continued abundant supply of tropical and in-season fruits like mangoes and pineapples at the markets along with the reduction in the prices of selected vegetables caused a -0.9 percent reduction in the fruits and vegetables indices in the Philippines and AONCR and a -0.8 percent drop in NCR.
Similarly, the good supply of fish particularly the brackish water fish species brought about by the prevalence of favorable weather conditions pulled down the indices of fish in NCR and AONCR by -1.6 percent and -0.2 percent, respectively. Overall, the index decreased to -0.5 percent during the month.
Higher prices of chicken and pork raised the meat indices in the three areas: Philippines, 0.6 percent from 0.1 percent; NCR, 1.0 percent from 0.2 percent; and AONCR, 0.4 percent from 0.2 percent.
The on-going harvest season of rice in selected provinces brought down its price in AONCR by 0.1 percent. However, the price of rice in NCR rose to 0.5 percent this month. Thus, the national index posted a zero growth from 0.1 percent last month.
The reduction in the prices of firewood, LPG and kerosene in NCR pulled down the FLW index in the area by -0.2 percent from 2.1 percent in March. On the other hand, prices of LPG, kerosene and charcoal were up in many regions. Higher charges for electricity in some provinces were also observed during the month. All these factors contributed to the increment in the FLW indices in the Philippines and AONCR by 0.4 percent and 0.8 percent, respectively. These were however, slower than their respective previous month's rates of 1.4 percent and 1.0 percent.
The continued upward adjustments in the prices of medicines gasoline, diesel and engine oil and higher passenger boat fare primarily effected the 0.2 percent and 0.3 increase in the services indices in the Philippines and AONCR. Higher charges for some personal services in selected provinces were also noted. Meanwhile, prices of services items in NCR generally remained stable as the index recorded a zero growth from 0.7 percent in March.
Increased prices of selected construction materials along with the higher rental rates in some provinces raised the H&R indices in the Philippines and AONCR by 0.2 percent. However, prices of H&R items in NCR were generally stable as the index posted a zero growth this month.
The following survey results were not yet received as of April 30, 2003:
Aklan - 1st and 2nd phases
Negros Oriental - 1st phase
Camiguin - 2nd phase
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