Summary Inflation Report Consumer Price Index (1994=100) : August 2000
Release Date: 05 September 2000
|Inflation Rates, Philippines, All Items|
- Year-on-year inflation rate increased to 4.6 percent in August from 4.3 percent in July. Inflation rate a year ago was 5.5 percent.
- Inflation in food, beverages and tobacco (FBT) and services primarily contributed to the increase in the rate.
- Higher month-on-month inflation in FBT, fuel, light and water (FLW) and services resulted to a 0.7 percent increase in August.
CONSUMER PRICE INDEX
> By Commodity Group, Year-on-Year
*Inflation for FBT went up to 2.7 percent in August from 2.3 percent in July; services, 11.6 percent from 10.9 percent; FLW, 12.0 percent from 10.3 percent; and miscellaneous items, 2.6 percent from 2.5 percent. On the other hand, the rate for housing and repairs (H&R) slowed down to 3.9 percent from 4.3 percent while that for clothing moved at its July rate of 2.3 percent.
- Inflation for food alone increased to 2.7 percent in August from 2.3 percent in July. Faster rates were posted in the prices of rice, 2.6 percent from 1.6 percent; fish, 5.1 percent from 4.9 percent ; miscellaneous foods, 1.9 percent from 0.8 percent; cereal preparations, 3.3 percent from 3.0 percent; meat, 1.0 percent from 0.6 percent; dairy products, 1.2 percent from 1.1 percent; and eggs, -1.9 percent from –2.8 percent. On the other hand, slower rates were seen in the prices of corn, 7.6 percent from 7.8 percent; and fruits and vegetables, 3.0 percent from 3.8 percent.
*In Metro Manila (MM), the inflation rates for clothing, FLW, and services were correspondingly higher by 0.4 percentage point, 3.6 percentage points, and 1.0 percentage point. However, those for FBT, H&R, and miscellaneous items were lower by 0.3 percentage point, 0.2 percentage point, and 0.1 percentage point, respectively.
- The inflation rate for food alone in MM slowed down to 2.2 percent in August from 2.6 percent in July. Negative rates were recorded in the prices of corn, -4.2 percent from 6.8 percent; and fruits and vegetables, -2.8 percent from 9.0 percent. However, faster rates were registered in the prices of rice, 1.9 percent from 1.1 percent; cereal preparations, 3.7 percent from 2.7 percent; dairy products, 2.1 percent from 1.8 percent; eggs, -7.3 percent from –9.6 percent; fish, 8.5 percent from 4.1 percent; meat, 1.1 percent from –0.1 percent; and miscellaneous foods, 3.3 percent from 2.4 percent.
*For areas outside Metro Manila (AOMM), the rates for FBT, FLW, services, and miscellaneous items were correspondingly higher by 0.7 percentage point, 0.8 percentage point, 0.5 percentage point, and 0.1 percentage point. Meanwhile, decreases were posted in clothing and H&R by 0.1 percentage point and 0.4 percentage point, respectively.
- The inflation rate for food alone rose to 2.8 percent in August from 2.1 percent in July.
- The inflation rate for rice went up to 2.8 percent this month from 1.7 percent last month. Except for Eastern Visayas and Northern Mindanao whose rates slowed down, all other regions recorded higher rates. The biggest increase was in Central Visayas at 2.8 percentage points.
- The inflation rates for eggs picked up to –0.2 percent in August from –0.5 percent in July; for fruits and vegetables, 5.1 percent from 2.1 percent; and for miscellaneous foods, 1.2 percent from 0.1 percent. Slower rates were noted in the prices of corn, 7.8 percent from 7.9 percent; and fish, 4.4 percent from 5.1 percent. The rates for cereal preparations, dairy products, and meat moved at their corresponding July rates of 3.1 percent, 0.8 percent, and 0.9 percent.
> By Region, Year-on-Year
*The inflation rate for MM rose to 5.0 percent in August from 4.8 percent in July.
*Inflation in AOMM went up to 4.6 percent in August from 4.1 percent a month earlier. Except for Central Visayas whose rate was lower than its July rate by 0.1 percentage point, all other regions posted higher inflation rates. The biggest increase was registered in Ilocos at 1.7 percentage points followed by Cagayan Valley at 1.2 percentage points. ARMM still recorded the highest rate at 10. 2 percent while the lowest was in Western Mindanao at 3.2 percent.
> By Commodity Group, Month-on-Month
*The month-on-month inflation rates for FBT picked up to 0.8 percent in August from 0.4 percent in July; clothing, 0.2 percent from 0.1 percent; FLW, 2.1 percent from 1.1 percent; and miscellaneous items, 0.3 percent from 0.1 percent. Slowdowns were however observed in services at 0.9 percent from 1.0 percent last month and H&R, 0.1 percent from 0.2 percent.
- Prices of fruits and vegetables in AOMM increased to 4.2 percent this month from 0.2 percent last month. However, in MM, the index decreased to –3.1 percent in August from 5.8 percent last month due to abundant supply of vegetables. Overall, the index went up to 2.3 percent from –1.6 percent the previous month.
- The lean month of August saw the price of rice advancing by 1.0 percent from 0.8 percent last month. Higher month-on-month rates were registered in seven regions including in MM. The highest rate was in Ilocos at 2.4 percent followed by Western Visayas at 2.0 percent. An uptick of 0.4 percent was recorded in the price of rice in MM.
- Increases in the prices of sugar, cooking oil, coffee, garlic, ginger, and peanut butter perked the miscellaneous foods index up by 0.9 percent.
*Price hikes in LPG and kerosene along with higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity in MM raised the FLW index to 2.1 percent from 1.1 percent in July.
*The services index in AOMM rose to 0.7 percent from 0.5 percent last month. In MM, the index registered a 1.2 percent increase, slower than 2.1 percent in July. This resulted to a 0.9 percent increase in the national index. Upward adjustment in shipping rate and prices of gasoline, diesel, engine oil, medicines and some medical and health goods like rubbing alcohol and eye drops effected the increase.
> By Region, Month-on-Month
*Prices in MM moved at 0.6 percent in August, slower than 0.7 percent posted in July. The rates for FBT and services were correspondingly lower by 0.4 percentage point and 0.9 percentage point. On the other hand, FLW was higher by 2.6 percentage points. Clothing, H&R and miscellaneous items remained at their corresponding July rates of 0.3 percent, zero growth and 0.2 percent.
*Prices in AOMM increased to 0.7 percent in August from 0.4 percent in July. Higher rates were noted in the prices of FBT, 1.0 percent from 0.4 percent; FLW, 1.2 percent from 1.0 percent; services, 0.7 percent from 0.5 percent; and miscellaneous items, 0.3 percent from 0.1 percent. However, H&R slowed down to 0.1 percent from 0.3 percent while that for clothing remained at 0.1 percent. Compared to July, ten regions recorded higher rates. The highest rate was posted in Ilocos at 1.7 percent while the lowest was in Northern Mindanao at 0.1 percent.
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