Summary Inflation Report Consumer Price Index (1994=100) : May 2000
Release Date: 05 June 2000
|Inflation Rates, Philippines, All Items|
- Year-on-year inflation rate went up to 4.1 percent in May 2000 from 3.7 percent in April. Inflation rate a year ago was 6.6 percent.
Inflation in services and food, beverages and tobacco (FBT) primarily contributed to the increase in rate.
- Higher month-on-month inflation in FBT resulted to a 0.4 percent increase in May.
CONSUMER PRICE INDEX
> By Commodity Group, Year-on-Year
* Inflation for FBT increased to 2.0 percent in May from 1.1 percent in April; and clothing, 2.5 percent from 2.4 percent; while that for miscellaneous items slowed its decline to -0.7 percent from 1.0 percent. On the other hand, that for fuel, light and water (FLW) slowed down to 9.3 percent from 10.1 percent; and for services, to 11.2 percent from 11.5 percent. Inflation in housing and repairs (H&R) moved at its April rate of 6.1 percent.
- Inflation for food alone moved up to 1.8 percent in May from 0.9 percent in April. Faster rates were posted in the prices of rice, 0.6 percent from 0.1 percent; cereal preparations, 2.4 percent from 2.3 percent; dairy products, 1.3 percent from 1.2 percent; fish, 6.9 percent from 4.8 percent; fruits and vegetables, 2.0 percent from 1.3 percent; meat, -0.2 percent from 0.6 percent; and miscellaneous foods, 0.2 percent from 0.1 percent. However, a slower rate was seen in the price of corn, 9.5 percent from 10.3 percent while the price of eggs further declined to 3.1 percent from 2.7 percent.
*Similarly, in Metro Manila (MM), the inflation rates for FBT, clothing, and miscellaneous items were correspondingly higher by 2.9 percentage points, 0.4 percentage point, and 1.0 percentage point. However, those for FLW and services were slower by 1.6 percentage points and 0.5 percentage point, respectively. The inflation for H&R moved at its April rate of 3.8 percent.
- The inflation for food alone in MM picked up to 3.1 percent this month from a zero growth last month. Faster rates were registered in the prices of rice, 1.5 percent in May from 1.4 percent in April; cereal preparations, 1.3 percent from 1.0 percent; dairy products, 2.3 percent from 2.0 percent; fish, 16.1 percent from 6.0 percent; fruits and vegetables, 5.9 percent from 5.7 percent; meat. 2.2 percent from 3.6 percent; and miscellaneous foods, 1.8 percent from 1.5 percent. However, prices of corn further dropped to -17.9 percent from 2.5 percent; and eggs, -10.3 percent from 9.6 percent.
*For areas outside Metro Manila (AOMM), the rate for FBT was higher by 0.3 percentage point in May. Decreases were recorded in H&R, 0.1 percentage point; services, 0.2 percentage point; and FLW, 0.4 percentage point. On the other hand, the rates for clothing and miscellaneous items moved at their April rates of 2.6 percent and 0.4 percent, respectively.
- The inflation rate for food alone went up to 1.5 percent in May from 1.2 percent in April.
- The inflation rate for rice rose to 0.5 percent this month from 0.3 percent last month. Except for Ilocos and Southern Tagalog whose rates moved at April rates of 2.4 percent and 0.1 percent, respectively, all other regions posted higher rates. The biggest increase was in Caraga at 2.6 percentage points.
- The inflation rates for dairy products picked up to 0.9 percent in May from 0.8 percent in April; fish, 4.8 percent from 4.4 percent; fruits and vegetables, 0.5 percent from 0.2 percent; meat, 0.7 percent from 0.6 percent; and miscellaneous foods, -0.3 percent from 0.4 percent. Slower rates were registered in the prices of corn, 10.2 percent from 10.5 percent; and miscellaneous foods, -0.3 percent from 0.4 percent. The price of eggs continued to decrease to -0.7 percent from 0.4 percent. The rate for cereal preparations moved at its April rate of 2.8 percent.
> By Region, Year-on-Year
* The inflation rate for Metro Manila rose to 4.5 percent in May from 3.4 percent in April. This is the highest since September last year.
* Inflation in AOMM moved at its April rate of 3.9 percent. Eleven regions posted higher inflation rates. The biggest increase was registered in Ilocos and Western Visayas at 0.5 percentage point while increases in other regions ranged from 0.1 to 0.2 percentage point. ARMM still recorded the highest rate at 9.8 percent while the lowest was in Ilocos at 2.0 percent.
> By Commodity Group, Month-on-Month
* The month-on-month inflation rates for FBT rose to 0.7 percent in May from 0.1 percent in April; and miscellaneous items, 0.3 percent from 0.1 percent. Meanwhile, slower rates were seen in the prices of H&R, 0.3 percent from 0.5 percent; and services, 0.1 percent from 0.4 percent. Clothing moved at its April rate of 0.2 percent while FLW declined to 0.2 percent in May from 1.1 percent.
- The price of rice moved up to 0.5 percent in May from 0.2 percent the previous month. Higher month-on-month rates were registered in ten regions as the harvest season came to end. The highest rate was in Southern Mindanao at 1.7 percent while Eastern Visayas recorded the lowest rate at 2.0 percent.
- Prices of corn in the Philippines correspondingly went up but at a slower rate of 0.8 percent from 1.1 percent in April. This was also seen in AOMM with an inflation of 0.9 percent in May from 1.1 percent. However, in MM, the decline was slower at -1.1 percent from 3.3 percent.
- Prices of cereal preparations in MM decelerated to 0.3 percent in May from 0.6 percent in April while in AOMM, it continued at its April rate of 0.1 percent. This resulted to a 0.1 percent increase in the national level.
- Prices of dairy products in MM and AOMM correspondingly went up to 0.5 percent and 0.1 percent from 0.3 percent and 0.1 percent, respectively as prices of ice cream, butter, cheese and milk increased during the month.
- Prices of eggs continued to decline during the month: -1.2 percent from 0.3 percent in MM; and 0.5 percent from 0.4 percent in AOMM. This resulted to a further overall decline: -0.6 percent from 0.2 percent.
- Heavy rains raised fish prices in MM and AOMM correspondingly to 0.6 percent and 0.4 percent in May from the respective rates of 3.3 percent and 0.2 percent last month. This gave a 0.4 percent increase in the national index.
- The fruits and vegetable index in AOMM further decreased to -1.3 percent from -0.5 percent due to abundant supply of vegetables. However, inclement weather in the northern part of the country caused prices of fruits and vegetables in MM to increase to 14.4 percent in May from 1.7 percent the previous month. Overall, the index increased by 2.6 percent from zero growth last month.
- Higher prices of beef, chicken and pork in many regions including MM pushed up the meat index by 0.9 in the Philippines.
- Prices of miscellaneous foods went up by 0.1 percent as prices of garlic, salt, coffee, powdered tonic drink, and sugar were priced higher.
- In AOMM, prices of meals eaten outside increased to 0.6 percent while MM posted a zero growth resulting to a 0.4 percent increase in the national level.
* Higher prices of some items for household operations like detergent soap, floorwax, and flourescent tube and items for personal care and effects like toothbrush, shampoo, sanitary napkins, and baby powder caused the miscellaneous items index to increase by 0.3 percent in the Philippines.
*The H&R index in the Philippines rose to 0.3 percent from 0.5 percent; due to the increases in the prices of some construction materials like cement, gravel, plywood, GI sheets, cement paint, faucet and nipa shingles.
*Upward price adjustments in footwear and ready-made apparel along with higher sewing charges in some regions pushed up the clothing index in MM to 0.5 percent in May from 0.4 percent last month and in AOMM, 0.1 percent. The national index went up by 0.2 percent.
*The services index ticked up by 0.1 percent in AOMM. This was slower than the rate of 0.5 percent when increases in boat fares took effect. In MM, the index had zero growth.
* The FLW index in MM declined to -0.9 percent from 1.4 percent last month. In AOMM, the index was up by 0.1 percent, slower than 0.8 percent in April. This resulted to a drop of -0.2 percent in the national index from a 1.1 percent increase in April. Lower purchased power adjustment (PPA) rate for electricity consumption in MM effected the decrease.
>By Region, Month-on-Month
*Prices in MM increased to 0.9 percent in May from 0.2 percent in April, the highest since January last year. The rates for FBT were higher by 2.2 percentage points; clothing, 0.1 percentage point; H&R and miscellaneous items, 0.2 percentage point. On the other hand, FLW was lower by 2.3 percentage points while services posted zero growth in May from 0.3 percent the previous month.
*Prices in AOMM moved up by 0.1 percent in May compared to 0.3 percent in April. Slower rates were registered in the prices of H&R, 0.2 percent from 0.8 percent; FLW, 0.1 percent from 0.8 percent; and services, 0.1 percent from 0.5 percent. However, faster rates were noted in the prices of FBT, 0.2 percent from zero growth; and miscellaneous items, 0.2 percent from 0.1 percent. Inflation for clothing moved at its April rate of 0.1 percent.
*Compared to last month, eleven regions recorded lower rates. The lowest was in Eastern Visayas at -0.3 percent while the highest was still posted in ARMM at 0.6 percent.
No reports were received from the following:
- Sulu - 1st and 2nd phase
- Lanao del Sur- 2nd phase
- Maguindanao - 2nd phase
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