Summary Inflation Report Consumer Price Index (1994=100) : March 2001
Release Date: 05 April 2001
|Inflation Rates, Philippines, All Items|
Year-on-year, the inflation rate remained at 6.7 percent in March 2001. The rise in the prices of services, housing and repairs (H&R) and fuel, light and water (FLW) was tempered by the slowdown in the inflation rate of food, beverages and tobacco (FBT). Inflation a year ago was 3.4 percent.
Month-on-month inflation slightly slowed down to 0.1 percent in March from 0.2 percent in February due to the deceleration in the monthly rates of all commodity groups and the continued decline in prices of fruits and vegetables, fish and rice.
CONSUMER PRICE INDEX
>By Region, Year-on-Year
*The inflation rate for MM remained at 7.7 percent in March.
*Inflation in AOMM also moved at the same rate in February of 6.3 percent. While seven regions posted higher inflation rates, seven regions also recorded slowdowns and one retained its February rate. The biggest increase was in ARMM at 1.0 percentage point followed by Eastern Visayas at 0.5 percentage point. The highest rate was observed in ARMM at 9.5 percent while the lowest rate was registered in Cagayan Valley and Central Mindanao at 3.9 percent.
>By Commodity Group, Year-on-Year
The rate of H&R went up to 7.0 percent in March from 6.4 percent in February; fuel, light and water (FLW), 14.3 percent from 13.7 percent; and miscellaneous items, 7.4 percent from 7.1 percent, while the inflation rate of FBT slowed down to 4.0 percent from 4.3 percent and services, to 13.9 percent from 14.0 percent. Meanwhile, clothing moved at its February rate of 3.8 percent.
>The inflation rate for food alone decreased to 3.9 percent in March from 4.3 percent in February. The price of rice decelerated to 1.7 percent from 2.8 percent; corn, 2.0 percent from 2.2 percent; eggs, 0.8 percent from 1.5 percent; fish, 2.9 percent from 3.0 percent; and fruits and vegetables, 6.1 percent from 7.6 percent. Faster rates were however, seen in the prices of cereal preparations, 5.8 percent from 5.6 percent; dairy products, 9.0 percent from 8.1 percent; meat, 6.1 percent from 5.5 percent; and miscellaneous foods, 3.4 percent from 3.2 percent.
Meanwhile in Metro Manila (MM), the rate for FBT declined by 0.6 percentage point; and clothing and services, by 0.1 percentage point. The rate for H&R increased by 1.0 percentage point; FLW, 0.1 percentage point; and miscellaneous items, 0.7 percentage point.
>The inflation rate for food alone in MM moved down to 4.2 percent in March from 4.8 percent in February. Slower rates were seen in the prices of rice, -0.1 percent from 0.9 percent; eggs, 4.4 percent from 8.2 percent; and fish, -4.8 percent from -0.3 percent. Higher rates were registered in the prices of corn, -3.1 percent from 11.7 percent; cereal preparations, 10.4 percent from 10.1 percent; dairy products, 11.3 percent from 10.0 percent; fruits and vegetables, 5.0 percent from 4.2 percent; meat, 9.0 percent from 8.6 percent; and miscellaneous items, 4.9 percent from 4.7 percent.
*For areas outside Metro Manila (AOMM), the rate of FBT decreased to 3.9 percent from 4.1 percent and services, 13.6 percent from 13.7 percent. The indices of clothing and miscellaneous items moved at their February rates of 3.4 percent and 6.7 percent, respectively. However, the rate for H&R went up to 7.6 percent in March from 7.4 percent in February; and FLW, 11.4 percent from 10.8 percent.
The inflation rate for food alone decelerated to 3.8 percent in March from 4.1 percent in February.
The inflation rate for rice slowed down to 1.9 percent in March from 3.1 percent a month ago. Except for CAR and Central Luzon, all other regions posted lower rates. The biggest decrease was in Southern Mindanao at 3.1 percentage points followed by Caraga at 2.9 percentage points. Slower rates were also recorded in the prices of corn, 2.1 percent from 2.5 percent; and fruits and vegetables, 6.4 percent from 8.7 percent.
The inflation rates for cereal preparations moved up to 4.1 percent in March from 4.0 percent last month; dairy products, 8.0 percent from 7.3 percent; eggs, -0.3 percent from -0.4 percent; fish, 4.9 percent from 3.9 percent; meat, 4.8 percent from 4.2 percent; and miscellaneous foods, 2.9 percent from 2.6 percent.
>By Region, Month-on-Month
Prices in MM moved at its February rate of 0.3 percent. Except for FBT, a slower upward movement was seen in the prices of all the commodity groups: clothing, 0.1 percent in March from 0.3 percent in February; H&R, 1.2 percent from 1.7 percent; FLW, 1.3 percent from 3.7 percent; services, 0.2 percent from 1.7 percent; and miscellaneous items, 0.3 percent from 0.7 percent. On the other hand, FBT continued to post a decline, at -0.4 percent in March and -1.7 percent in February.
There was zero growth in the prices in AOMM in March from 0.2 percent last month. Slowdowns were seen in the prices of clothing, 0.2 percent in March from 0.3 percent in February; H&R, 0.6 percent from 0.9 percent; services, 0.3 percent from 0.5 percent; and miscellaneous items, 0.2 percent from 0.6 percent. Meanwhile, inflation for H&R was higher by 0.3 percentage point while FBT further declined to 0.4 percent from 0.2 percent. Compared to last month, eleven regions recorded lower rates. The lowest rate was registered in Ilocos and Cagayan Valley at 0.6 percent while the highest was in ARMM at 1.1 percent.
>By Commodity Group, Month-on-Month
Except for the FBT rate which slightly moved to 0.4 percent this month from 0.5 percent in February, the slowdowns in the rates of all the commodity groups in March caused the inflation rate to decelerate to 0.1 percent this month from 0.2 percent in February. Clothing slowed down to 0.2 percent from 0.3 percent; H&R, 0.8 percent from 1.2 percent; FLW, 1.1 percent from 1.7 percent; services, 0.3 percent from 0.9 percent; miscellaneous items, 0.3 percent from 0.5 percent.
Sufficient supplies of vegetables from Luzon brought about by good weather conditions caused the fruits and vegetables index to continue to bring prices down in MM (-1.7 percent). In AOMM, eleven regions posted declines from -1.1 percent in Southern and Central Mindanao to -10.6 percent in Ilocos. Moreover, reductions were registered in the prices of mangoes, bananas, and papayas in the markets including those in MM due to continued abundant supply. Thus, the group index in the Philippines, MM and AOMM correspondingly dropped by 3.6 percent, 1.7 percent and 4.2 percent.
Fish prices in MM and AOMM continued to decline as fish species like tuna was abundant during the month. The group index dropped to -0.5 percent in the Philippines, -2.0 percent in MM and -0.2 percent in AOMM.
The supply of rice nationwide was still sufficient to fill the requirements this month causing its price to remain at the previous level in MM. Moreover, the indices for the Philippines and AOMM moved to -0.3 percent from -0.4 percent posted in February.
*The H&R index increased by 0.8 percent for the Philippines, 1.2 percent in MM and 0.6 percent in AOMM which were lower than their corresponding rates of 1.2 percent, 1.7 percent and 0.9 percent last month.
*Price increases in LPG, kerosene, charcoal, candles and higher charge for electricity consumption were recorded in many regions. These factors along with higher purchased power adjustment (PPA) for electricity in MM raised the FLW indices to 1.1 percent in the Philippines and 1.3 percent in MM. These rates however, were lower than their corresponding rates of 1.7 percent and 3.7 percent in February. In AOMM, the index went up to 1.0 percent from 0.7 percent.
*Price hikes in medicines and higher charges for barber and beauty parlor services, dental services, and movie admission together with the increase in the salary of domestic help pushed up the services indices to 0.3 percent in the Philippines and AOMM and 0.2 percent in MM. These rates were however still lower than their respective February rates of 0.9 percent, 0.5 percent and 1.7 percent.
Result of the 2nd phase survey was not received from Lanao del Sur.
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