Summary Inflation Report Consumer Price Index (1994=100) : January 2001
Release Date: 05 February 2001
|Inflation Rates, Philippines, All Items|
The inflation rate went up further to 6.9 percent in January, from 6.6 percent in December. The rise in prices of food, beverages and tobacco (FBT) and services contributed to the increase. Inflation during the same month a year ago was 2.6 percent.
- Inflation in Metro Manila (MM) increased to 7.8 percent from 7.5 percent in December.
- Inflation in Areas Outside Metro Manila (AOMM) moved up to 6.5 percent from 6.3 percent in December.
Month-on-month inflation was slightly higher at 0.8 percent in January 2001 from 0.7 percent in December 2000 due to FBT price increases.
CONSUMER PRICE INDEX
> By Region, Year-on-Year
* The inflation rate for MM increased to 7.8 percent in January from 7.5 percent in December 2000.
* Inflation in AOMM went up to 6.5 percent in January from 6.3 percent in December. Eight regions posted higher inflation rates. The biggest increase was in Ilocos region at 1.2 percentage points. The highest rate was still observed in ARMM at 9.8 percent while the lowest was in Central Mindanao at 4.6 percent.
> By Commodity Group, Year-on-Year
Inflation rates for most commodity groups were higher in January. The rate for FBT moved up to 5.2 percent in January from 5.1 percent in December; clothing, 3.7 percent from 3.4 percent; housing and repairs (H&R), 5.6 percent from 5.5 percent; services, 13.6 percent from 13.5 percent; and miscellaneous items, 6.8 percent from 3.3 percent. However, the rate for fuel, light and water (FLW) moved at its December rate at 12.5 percent.
>The inflation rate for food alone was 5.1 percent in January, slightly lower than 5.2 percent in December. Slower rates were noted in the prices of rice, 3.9 percent from 4.4 percent; corn, 5.2 percent from 5.9 percent; fruits and vegetables, 10.4 percent from 11.3 percent; and miscellaneous foods, 2.7 percent from 3.2 percent. Meanwhile, higher rates were registered in the prices of dairy products, 5.5 percent from 4.9 percent; eggs, 1.5 percent from 0.5 percent; fish, 6.4 percent from 6.2 percent; meat, 4.8 percent from 3.4 percent; and cereal preparations, 5.4 percent from 5.3 percent.
In Metro Manila (MM), the rates for FBT, clothing and miscellaneous items were correspondingly higher by 0.4 percentage point, 0.8 percentage points and 4.2 percentage points. On the other hand, the rates for H&R, FLW and services were slower by 0.3 percentage point, 1.0 percentage point and 0.1 percentage point, respectively.
>The inflation rate for food alone in MM picked up to 6.6 percent in January from 6.2 percent in December. Higher rates were posted in the prices of rice, 1.3 percent from 1.1 percent; cereal preparations, 9.9 percent from 9.8 percent; dairy products, 7.4 percent from 6.0 percent; eggs, 8.7 percent from 0.2 percent; fish, 10.9 percent from 7.9 percent; and meat, 7.8 percent from 6.0 percent. Lower rates were recorded in the prices of corn, 3.7 percent from 10.7 percent; fruits and vegetables, 10.0 percent from 11.8 percent; and miscellaneous foods, 3.2 percent from 4.7 percent.
* For areas outside Metro Manila (AOMM), most commodity groups posted higher inflation rates except for FBT whose rate decelerated to 4.7 percent in January from 4.9 percent in December. The rates for clothing went up by 0.3 percentage point; H&R, 0.4 percentage point; FLW, 0.5 percentage point; services, 0.2 percentage point; and miscellaneous items, 3.3 percentage points.
- The inflation rate for food alone declined to 4.7 percent in January from 4.9 percent in December.
- The inflation rate for rice slowed down to 4.3 percent in January from 4.9 percent a month earlier. Twelve regions recorded lower rates; the biggest decline was in Southern Mindanao at 1.8 percentage points followed by Eastern Visayas at 1.6 percentage points. Lower rates were also noted in the prices of corn, 5.2 percent from 5.9 percent; fish, 5.3 percent from 5.8 percent; fruits and vegetables, 10.6 percent from 11.1 percent; and miscellaneous foods, 2.5 percent from 2.6 percent.
- Inflation for dairy products increased to 4.8 percent in January from 4.4 percent in December; meat, 3.6 percent from 2.3 percent; and cereal preparations, 3.7 percent from 3.6 percent. Prices of eggs moved at the December rate of 0.5 percent, respectively.
> By Region, Month-on-Month
- Prices in MM significantly increased to 0.9 percent in January from 0.1 percent in December. Higher rates were noted in FBT, 1.6 percent from 0.5 percent; H&R, 0.4 percent from 0.1 percent; and miscellaneous items, 0.7 percent from 0.2 percent. Lower rates were recorded in FLW, -0.1 percent from 2.8 percent and services, 0.3 percent from 0.5 percent. Meanwhile, clothing moved at its December rate of 0.8 percent.
- Prices in AOMM moved at 0.6 percent in January, slower than 1.0 percent posted in December. Except for H&R index whose rate remained at 1.1 percent, all other commodity groups recorded lower inflation. The rate for FBT decelerated to 0.7 percent in January from 0.9 percent in December; clothing, 0.4 percent from 0.5 percent; FLW, 0.6 percent from 1.4 percent; services, 0.5 percent from 1.2 percent; and miscellaneous items, 0.3 percent from 0.4 percent. Compared to last month, nine regions recorded lower rates. The lowest rate was registered in ARMM at 0.2 percent while the highest was in Ilocos at 1.0 percent.
> By Commodity Group, Month-on-Month
- The increase in the inflation rate of FBT in MM mainly brought up the index at the national level to 0.8 percent in January from 0.7 percent in December. The rate for H&R also moved up to 0.8 percent from 0.7 percent. On the other hand, clothing slowed down to 0.4 percent from 0.6 percent; FLW, 0.4 percent from 1.8 percent; and services, 0.4 percent from 1.0 percent. Miscellaneous items moved at its December rate of 0.4 percent.
- Fish prices in MM and AOMM significantly moved up to 6.3 percent and 1.5 percent, respectively in January from their corresponding December rates of 1.1 percent and 1.2 percent. This resulted to a 2.5 percent increase in the national index due to lower supply of bangus when its production was damaged by the typhoons in October and November. Moreover, the catch of marine fishes was low due to cooler temperatures.
- The absence of imported beef and chicken in the market raised the meat index in the national and AOMM levels. This correspondingly moved prices up by 1.9 percent and 1.8 percent from their respective December rates of 1.3 percent and 0.8 percent. Prices of meat also increased in MM at 2.4 percent but this was lower than the 2.7 percent posted a month ago.
- Prices of miscellaneous foods in MM rose to 1.5 percent from 0.2 percent in December as prices of coffee, cooking oil, powdered tonic drink, calamansi and seasonings were higher. This resulted to a 0.5 percent increase in the national index despite the zero growth in the AOMM index.
- Abundant supply of vegetables in MM and in many regions in Luzon and Mindanao brought about by favorable weather conditions caused the fruits and vegetables index in MM to post a decline of 2.3 percent from 8.0 percent in December. In AOMM and the Philippines the index increased but at slower rates of 1.9 percent and 0.8 percent, respectively from their corresponding December rates of 4.6 percent and 1.1 percent.
* The H&R index for the whole country increased to 0.8 percent from 0.7 percent in December. In AOMM, the index moved at its previous month's rate of 1.1 percent. Higher prices of selected construction materials like bamboo, plywood, cement, common wire nails, lumber along with higher rental rates in most of the regions including MM brought about the increase.
* Increases in the prices of newspapers and medicines, along with higher charges for haircut, tricycle fare and salaries of domestic helper caused the services index to grow by 0.4 percent in the Philippines, 0.3 percent in MM and by 0.5 percent in AOMM. But these were lower than their corresponding December rates of 1.0 percent, 0.5 percent and 1.2 percent.
* Higher prices of some items for household operations like detergent soap, floorwax, insecticide, cleanser, and air freshener along with items for personal care and effects (powder, facial tissue, shampoo, comb, razor blade, toothpaste and wristwatches) and some items for household furnishing and equipment raised the miscellaneous index in MM to 0.7 percent in January from 0.2 percent in December. In AOMM, the index also increased but at slower rate of 0.3 percent from 0.4 percent last month. Overall, the group moved at the same December rate of 0.4 percent.
Results of the 2nd phase survey were not received from North Cotabato and Lanao del Sur
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