Summary Inflation Report Consumer Price Index (1994=100) : August 1999
Release Date: 06 September 1999
|Inflation Rates, Philippines, All Items|
CONSUMER PRICE INDEX (1994=100)
l By Commodity Group, Year-on-Year
ÃƒÆ’Ã‚Â¨ All the commodity groups recorded lower inflation rates in August. The rates for food, beverages and tobacco (FBT) slowed down to 3.4 percent in August from 3.5 percent in July; clothing, 5.5 percent from 5.7 percent; housing and repairs (H&R), 9.0 percent from 9.3 percent; fuel, light and water (FLW), 5.9 percent from 6.0 percent; services, 10.3 percent from 10.8 percent; and miscellaneous items, 4.2 percent from 4.5 percent.
> The inflation rate for food alone was 3.2 percent in August, same rate posted in July. Higher rates were registered in the prices of fish, 7.5 percent from 7.3 percent; and fruits and vegetables, 4.3 percent from 1.5 percent. However, lower rates were recorded in the prices of rice, 2.9 percent from 3.5 percent; corn, -4.4 percent from 2.3 percent; cereal preparations, 3.3 percent from 3.9 percent; dairy products, 3.1 percent from 3.3 percent; eggs, 4.9 percent from 7.3 percent; meat, 1.9 percent from 2.1 percent; and miscellaneous foods, 1.4 percent from 3.7 percent.
ÃƒÆ’Ã‚Â¨ In Metro Manila (MM), the rates for H&R declined by 0.3 percentage point; FLW, 0.4 percentage point; services, 1.7 percentage points; and miscellaneous items, 0.7 percentage point. However, the rates for FBT and clothing were correspondingly higher by 0.9 percentage point and 0.4 percentage point.
> The inflation rate for food alone in MM went up to 1.9 percent in August from 0.9 percent in July. Higher rates were registered in the prices of rice, -0.5 percent from 0.6 percent; corn, 12.4 percent from 0.3 percent; and fruits and vegetables, 18.7 percent from 2.4 percent. However, lower rates were posted in the prices of cereal preparations, 2.0 percent from 2.2 percent; dairy products, 3.2 percent from 3.3 percent; eggs, -0.5 percent from 4.1 percent; fish, 0.2 percent from 4.0 percent; meat, -1.3 percent from 0.9 percent; and miscellaneous foods, -1.5 percent from 0.5 percent.
ÃƒÆ’Ã‚Â¨ For areas outside Metro Manila (AOMM), the rates for FBT and clothing in August decreased by 0.4 percentage point; H&R, 0.3 percentage point; and miscellaneous items, 0.2 percentage point. The rates for FLW and services went up by 0.1 percentage point.
> The inflation rate for food alone went down to 3.6 percent in August from 4.0 percent in July.
> The inflation rate for rice slowed down to 3.4 percent from 4.2 percent last month. Ten regions posted lower rates, the biggest decline was 5.6 percentage points in Western Mindanao.
> Inflation rates for corn decelerated to 4.7 percent from 2.4 percent; cereal preparations, 3.9 percent from 4.6 percent; dairy products, 3.2 percent from 3.3 percent; eggs, 6.7 percent from 8.3 percent; meat, 3.3 percent from 3.5 percent; and miscellaneous foods, 2.6 percent from 5.6 percent. Higher rates were recorded in the prices of fish, 9.3 percent from 8.0 percent; and fruits and vegetables, 0.1 percent from 2.7 percent.
l By Region, Year-on-Year
ÃƒÆ’Ã‚Â¨ The inflation rate for Metro Manila remained at its previous month's rate of 4.2 percent.
ÃƒÆ’Ã‚Â¨ AOMM's inflation slowed down to 6.0 percent from 6.2 percent last month. Ten regions posted lower rates. The biggest decline was noted in Cordillera Administrative Region (CAR) at 2.5 percentage points followed by Western Mindanao and ARMM at 1.3 percentage points. Southern Mindanao still posted the lowest inflation rate at 2.6 percent while Cagayan Valley continued to have the highest rate at 7.6 percent.
l By Commodity Group, Month-on-Month
ÃƒÆ’Ã‚Â¨ Month-on-month inflation rates for FBT and miscellaneous items correspondingly went up by 0.4 percentage point and 0.2 percentage point. H&R and FLW decreased by 0.1 percentage point; and services, 0.3 percentage point. Clothing remained at its July rate of 0.2 percent.
> NFA's sufficient stocks of rice prevented traders to speculate for higher prices, thus the price of rice remained stable as it posted a zero growth this month from a 0.2 percent increase last month. Negative rates were registered in ten regions including Metro Manila. The lowest rate was posted in Central Visayas at 0.9 percent while Eastern Visayas recorded the highest rate at 1.5 percent.
> The continued bumper harvest of corn in some regions caused the AOMM index to decline by 1.2 percent in August from 0.3 percent increment last month. However, the price of corn in MM significantly increased to 11.8 percent from 2.3 percent in July. The national index for corn decreased by 1.0 percent in August from 0.2 percent last month.
> Prices of cereal preparations increased by 0.1 percent from-0.1 percent a month earlier as prices of flour and noodles increased in MM and in many regions.
> Prices of dairy products in the Philippines and AOMM slowed down to 0.1 percent from 0.2 percent last month. In MM, the index went down by 0.1 percent as prices of milk, ice cream and cheese decreased during the month.
> In AOMM, prices of eggs posted a zero growth from 0.2 percent last month while in MM, it fell by 2.0 percent. This further pulled down the national index by 0.5 percent in August.
> Unfavorable weather condition caused fish prices in AOMM to increase by 0.8 percent this month from 0.1 percent in July. This pulled up the national index by 0.2 percent even as fish prices in MM decreased by 2.3 percent.
> Heavy rains and flood during the month raised prices of fruits and vegetables by 8.7 percent in MM and 1.2 percent in AOMM, thus the national index increased by 3.1 percent.
> Lower prices of beef, chicken and pork in MM and a few regions caused the continued decline in the meat index but at slower rates compared to July (0.9 percent from -1.9 percent) in MM and (0.2 percent from 0.7 percent) in the Philippines.
> In AOMM, sugar, garlic, ginger, and calamansi were priced lower during the month resulting to a 0.1 decrease in the miscellaneous foods index in the national level and AOMM. The rate in MM also decreased but at a higher rate of 0.2 percent this month from 0.3 percent in July as prices of these commodities were also lower.
> Prices of meals eaten outside in AOMM increased but at a lower rate of 0.2 percent while MM posted a zero growth, giving a 0.1 percent overall increase which was slightly lower than its July rate of 0.2 percent.
ÃƒÆ’Ã‚Â¨ The FLW index moved up but at slower rates of 0.5 percent in the Philippines and AOMM from their July rate of 0.6 percent. Higher rates for water and electricity consumption in many regions contributed a 0.5 percent increase compared to a 0.6 percent increment in July. In MM, the index increased to 0.8 percent from 0.5 percent last month. This was due to the increase in the currency exchange rate adjustment (CERA) and purchased power adjustment rate (PPA) for electricity along with higher price of kerosene.
ÃƒÆ’Ã‚Â¨ Higher rental rates and increases in the prices of some construction materials like cement, sand, paint, common wire nails and plywood caused the H&R index to increase in the three areas: 0.4 percent in the Philippines; 0.2 percent in MM; and 0.5 percent in AOMM. These were lower from their corresponding July rates of 0.5 percent, 0.3 percent, and 0.8 percent.
ÃƒÆ’Ã‚Â¨ The clothing index went up by 0.3 percent in AOMM and 0.2 percent in the Philippines. This was mainly due to the increase in the prices of footwear and ready-made apparel like T-shirts, socks, underwear and pants. Meanwhile, the MM index posted a zero growth this month from 0.1 percent last month.
ÃƒÆ’Ã‚Â¨ The MM index for miscellaneous items went up by 0.3 percent and in AOMM, by 0.2 percent resulting to a 0.2 percent overall increase. This was brought about by the increases in the prices of items for personal care like bath soap, toothbrush, comb, shampoo and laundry soap and household equipment like stove and flat iron.
ÃƒÆ’Ã‚Â¨ Services moved up but at slower rates of 0.2 percent in the Philippines and AOMM from their respective July rates of 0.5 percent and 0.7 percent. However, the index for MM increased by 0.3 percent from 0.1 percent posted last month.
l By Region, Month-on-Month
ÃƒÆ’Ã‚Â¨ Prices in Metro Manila went up to 0.4 percent in August from 0.3 percent in July. FBT prices were higher by 1.4 percentage points; FLW, 0.3 percentage point; services, 0.2 percentage point and miscellaneous items, 0.4 percentage point. However, prices of H&R items were on the uptrend but at a slower rate of 0.2 percent while they remained stable for clothing items.
ÃƒÆ’Ã‚Â¨ In AOMM, prices moved at its July rate of 0.3 percent. FBT, clothing, FLW, and miscellaneous items were priced higher by 0.1 percentage point. However, the increase in prices of H&R and services items were correspondingly slower by 0.3 percentage point and 0.5 percentage point. Only five regions posted higher rates in August with the highest rate recorded in Central Visayas at 0.6 percent while the lowest rate was registered in Northern Mindanao at 0.3 percent.
Source: National Statistics Office
Page Last Updated: September 6, 1999
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