Summary Inflation Report Consumer Price Index (1994=100) : June 2000
Release Date: 05 July 2000
|Inflation Rates, Philippines, All Items|
- Year-on-year inflation slowed down to 3.9 percent in June from 4.1 percent in May. Inflation a year ago was 5.7 percent.
- Slowdown in inflation for services and food has brought about the deceleration of inflation rate.
- Compared to June last year, tuition fee increases are relatively less, resulting to the slowdown in inflation for services.
- Similarly, lower prices of food items in Metro Manila, particularly, rice, fish, fruits and vegetables contributed to the lower inflation rate.
- Higher month-on-month inflation in the indexes of services and miscellaneous items resulted to a 0.7 percent increase in June.
CONSUMER PRICE INDEX
> By Commodity Group, Year-on-Year
* Slower rates were registered for food, beverages and tobacco (FBT) at 1.8 percent in June from 2.0 percent in May; clothing, 2.4 percent from 2.5 percent; housing and repairs (H&R), 4.6 percent from 6.1 percent; and services, 10.0 percent from 11.2 percent. On the other hand, that for FLW rose to 9.5 percent from 9.3 percent; and miscellaneous items, 2.4 percent from –0.7 percent.
>The inflation rate for food alone decelerated to 1.5 percent in June from 1.8 percent in May. The price of corn slowed down to 8.4 percent from 9.5 percent; dairy products, 1.2 percent from 1.3 percent; fish, 4.8 percent from 6.9 percent; and fruits and vegetables, 1.4 percent from 2.0 percent. Faster rates were however, seen in the prices of rice, 1.0 percent from 0.6 percent; cereal preparations, 2.6 percent from 2.4 percent; and miscellaneous foods, 0.4 percent from 0.2 percent. Prices of eggs and meat moved at their May rates of –3.1 percent and –0.2 percent, respectively.
* Similarly, in Metro Manila (MM), the inflation rates for FBT were slower by 2.0 percentage points; clothing and H&R, 0.2 percentage point; and services, 1.7 percentage points. However, those for FLW and miscellaneous items were correspondingly higher by 1. 2 percentage points and 3.4 percentage points.
>The inflation rate for food alone in MM was 1.1 percent in June which was lower than the 3.1 percent registered in May. Lower rates were seen in the prices of rice, 1.1 percent from 1.5 percent; dairy products, 2.0 percent from 2.3 percent; fish, 7.4 percent from 16.1 percent; and fruits and vegetables, -2.2 percent from 5.9 percent. Higher rates were recorded in the prices of corn, 2.1 percent from –17.9 percent; cereal preparations, 1.7 percent from 1.3 percent; meat, -2.1 percent from –2.2 percent; and miscellaneous foods, 2.3 percent from 1.8 percent. Price of eggs moved at its May rate of –10.3 percent.
* For areas outside Metro Manila (AOMM), the rates for FBT and miscellaneous items were correspondingly higher by 0.3 percentage point and 3.0 percentage points. Decreases were posted in clothing, by 0.1 percentage point; H&R, 2.2 percentage points; FLW, 0.2 percentage point; and services, 0.9 percentage point.
> The inflation rate for food alone went up to 1.7 percent in June from 1.5 percent in May.
> The inflation rate for rice rose to 1.0 percent this month from 0.5 percent last month. Nine regions registered higher rates, the biggest increase was in Western Visayas at 2.0 percentage points.
>The inflation rates for cereal preparations picked up to 3.0 percent in June from 2.8 percent in May; and fruits and vegetables, 2.6 percent from 0.5 percent. Slower rates were noted in the prices of corn, 8.6 percent from 10.2 percent; eggs, -0.8 percent from –0.7 percent; fish, 4.3 percent from 4.8 percent; and meat, 0.6 percent from 0.7 percent. Inflation for dairy products and miscellaneous foods stayed at their May rates of 0.9 percent and –0.3 percent, respectively.
> By Region, Year-on-Year
* The inflation rate for MM at 3.7 percent in June is slower than the 4.5 percent in May.
* Inflation in AOMM remained at its previous month’s rate of 3.9 percent. Ten regions posted higher inflation rates. The biggest increase was registered in Central Mindanao at 0.7 percentage point while increases ranged from 0.2 to 0.4 percentage point in other regions. ARMM still recorded the highest rate at 10.1 percent while the lowest was still in Ilocos at 2.3 percent.
> By Commodity Group, Month-on-Month
* The month-on-month inflation rates for FLW rose to 0.6 percent in June from –0.2 percent in May; services, 3.8 percent from 0.1 percent; and miscellaneous items, 3.4 percent from 0.3 percent. Meanwhile, a slower rate was seen in the price of clothing, 0.1 percent from 0.2 percent. H&R moved at its May rate of 0.3 percent while FBT declined to –0.3 percent in June from 0.7 percent in May.
* The price of rice moved at its rate of 0.5 percent last month. Higher month-on-month rates were registered in five regions. The highest rate was in Western Visayas and Western Mindanao at 2.0 percent while Ilocos recorded the lowest rate at –0.3 percent. The price of rice in MM also decreased to –0.3 percent from zero growth last month.
* The price of corn in the Philippines went up but at a slower rate of 0.4 percent from 0.8 percent in May. This was also seen in AOMM with an inflation of 0.5 percent in June from 0.9 last month. However, in MM, it further declined to –4.4 percent from –1.1 percent.
* Prices of cereal preparations in MM went down to –0.1 percent this month from 0.3 percent last month while inflation in AOMM increased to 0.3 percent from 0.1 percent. This resulted to a 0.2 percent increase at the national level as flour, noodles, and native cakes were priced higher during the month.
* Prices of dairy products in the whole country, MM and AOMM remained stable as they posted zero growths this month.
* Prices of eggs still posted negative rates in June: -1.3 percent from –1.2 percent in MM; -0.3 percent from –0.5 percent in AOMM; and –0.5 percent from –0.6 percent in the Philippines.
* Fish prices in MM decreased by 6.1 percent in June from 0.6 percent in May. In AOMM, it remained stable at a zero growth from 0.4 percent last month with seven regions posting price declines. This gave a 1.2 percent drop in the national index as supply was abundant brought about by favorable weather conditions.
* Abundant supply of vegetables reaching various MM markets accounted for the remarkable decline of the fruits and vegetable index of MM to –10.6 percent this month from 14.4 percent the previous month. In AOMM, the fruits and vegetables index remained almost stable. Overall, the index went down to -2.9 percent from 2.6 percent last month.
* Higher price of chicken in MM pushed up the meat index by 0.1 percent in the Philippines, even with zero growth in AOMM.
* Prices of miscellaneous foods moved at its May rate of 0.1 percent in the national level as prices of salt, sauces, pepper and sugar increased in MM.
* Prices of meals eaten outside increased to 0.5 percent in MM from zero growth last month while in AOMM, prices slowed down to 0.3 percent from 0.6 percent. This resulted to a 0.4 percent increase in the national level.
* The services indexes for the whole country and AOMM went up to 3.8 percent and 3.6 percent, respectively from their last month’s rate of 0.1 percent, and in MM, 3.9 percent from zero growth. Increases were brought about by higher school tuition fees, charges for hospital, haircut, and telephone and higher salary for domestic help along with upward adjustments in the prices of gasoline, diesel, engine oil, and medicines.
* Price hikes in detergent soap, sanitary napkins, toilet soap, baby powder, electric stove and flourescent tube caused the miscellaneous items index to climb by 3.4 percent in the Philippines; 3.8 percent in MM; and 3.3 percent in AOMM from their corresponding May rates of 0.3 percent, 0.4 percent, and 0.2 percent.
* The FLW index went up to 0.6 percent in June from –0.2 percent a month earlier. This was due to the higher prices of charcoal, LPG, kerosene, and firewood along with higher electricity consumption in many regions and higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity in MM.
* The H&R index in AOMM rose to 0.4 percent from 0.2 percent last month. In MM, the index registered a 0.1 percent increase, slower than 0.4 percent in May. This resulted to a 0.3 percent increase in the national index, which was the same rate posted last month. Higher rental rates in many regions including MM effected the increase.
* Price add-ons in ready-made apparel (pants, T-shirt, and underwear) and sewing accessories (thread, zipper and textile) along with higher sewing charges in some regions raised the clothing index in MM to 0.3 percent, slower than 0.5 percent posted in May while in AOMM, the index moved at its May rate of 0.1 percent.
> By Region, Month-on-Month
* Prices in MM recorded a 0.1 percent growth in June, slower than 0.9 percent registered in May. The rates for FBT, clothing, and H&R were correspondingly lower by 4.3 percentage points, 0.2 percentage point and 0.3 percentage point. On the other hand, FLW, services, and miscellaneous items were higher by 2.0 percentage points, 3.9 percentage points and 3.4 percentage points, respectively.
* Prices in AOMM climbed up to 0.9 percent in June from 0.1 percent last month. Higher rates were noted in the prices of H&R, 0.4 percent from 0.2 percent; FLW, 0.4 percent from 0.1 percent; services, 3.8 percent from 0.1 percent; and miscellaneous items, 3.3 percent from 0.2 percent. Inflation for FBT and clothing were at their corresponding May rates of 0.2 percent and 0.1 percent.
* Compared to last month, all the regions posted higher rates. The highest rate was posted in Bicol at 1.2 percent while the lowest was in Caraga at 0.4 percent.
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