Summary Inflation Report Consumer Price Index (1994=100) : November 2001
Release Date: 05 December 2001
NOVEMBER AND OCTOBER 2001
|Inflation Rates, Philippines, All Items|
Year-on-year inflation slowed down to 4.4 percent in November from 5.4 percent in October brought about by the deceleration in the inflation rates of all the commodity groups. The November 2000 inflation was 6.0 percent.
Likewise, inflation in the National Capital Region (NCR) slid to 4.6 percent in November from 6.1 percent in October due to the slower movements in the prices of food, beverages and tobacco (FBT), fuel, light and water (FLW), services and miscellaneous items.
Inflation rate in Areas Outside the National Capital Region (AONCR) slipped to 4.3 percent in November from 5.2 percent in October. This was effected by the slower inflation rates of all the commodity groups.
Month-on-month inflation slightly increased to 0.2 percent in November from 0.1 percent in October as movements in all the commodity groups except for services were higher during the month.
CONSUMER PRICE INDEX
>By Region, Year-on-Year
*The inflation rate for the National Capital Region (NCR) at 4.6 percent in November was lower than the 6.1 percent recorded in October.
*Inflation in Areas Outside National Capital Region (AONCR) declined to 4.3 percent in November from 5.2 percent in October. Except for Eastern Visayas whose inflation rate slightly went up to 7.1 percent in November from 7.0 percent in October, all the other regions registered lower inflation rates with Central Visayas recording the biggest decrease at 1.7 percentage points. The lowest rate was still posted in Cagayan Valley and Western Mindanao at 2.5 percent while the highest rate was in Eastern Visayas at 7.1 percent.
>By Commodity Group, Year-on-Year
Inflation rates of all the commodity groups declined during the month. Inflation rate for FBT decreased to 2.6 percent in November from 3.9 percent in October; clothing, 3.4 percent from 3.5 percent; housing and repairs (H&R), 6.8 percent from 6.9 percent; fuel, light and water (FLW), 8.4 percent from 9.3 percent; services, 7.3 percent from 9.1 percent; and miscellaneous items, 3.2 percent from 3.5 percent.
The inflation rate for food alone further decelerated to 2.5 percent in November from 3.7 percent in October as prices of most of the food items increased at slower rates. Decreases were observed in the inflation rate of corn, -0.7 percent in November from -0.1 percent in October; and fruits and vegetables, -4.3 percent from 2.8 percent. Moreover, inflation rate for cereal preparations slid to 3.4 percent from 4.1 percent; dairy products, 11.1 percent from 11.9 percent; fish, 4.2 percent from 5.1 percent; meat, 6.0 percent from 6.8 percent; and miscellaneous foods, 3.8 percent from 3.9 percent. Inflation for rice was zero due to mixed trends in the regions while the rate for eggs slightly moved up to 6.1 percent from 6.0 percent.
In NCR, inflation rate for FBT significantly went down by 3.4 percentage points; FLW, 0.6 percentage point; services, 0.5 percentage point; and miscellaneous items, 0.7 percentage point. On the other hand, the rates for clothing and H&R correspondingly rose by 0.4 percentage point and 1.1 percentage points.
The inflation rate for food alone in NCR at 0.3 percent in November was significantly lower than the 3.9 percent registered in October. Except for rice whose inflation went up to 0.1 percent in November from 0.4 percent in October, all the other food groups posted slower rates. Inflation in corn decelerated to 4.0 percent in November from 6.5 percent in October; cereal preparations, 3.5 percent from 4.5 percent; dairy products, 12.3 percent from 13.2 percent; eggs, 12.2 percent from 13.8 percent; meat, 6.0 percent from 7.2 percent; and miscellaneous foods, 6.0 percent from 6.2 percent. Moreover, prices of fish further dropped to -4.8 percent from -1.1 percent and fruits and vegetables, -17.7 percent from -1.5 percent.
For AONCR, all the commodity groups moved continuously at slower rates in November. The rate for FBT slowed down to 3.2 percent in November from 3.8 percent in October; clothing, 2.8 percent from 3.1 percent; H&R, 6.3 percent from 7.0 percent; FLW, 5.3 percent from 6.3 percent; services, 7.3 percent from 9.9 percent; and miscellaneous items, 3.3 percent from 3.5 percent.
The inflation rate for food alone was lower at 3.1 percent in November from 3.6 percent in October.
The price of corn further declined to -0.8 percent in November from -0.2 percent in October. In addition, slower rates were observed in the prices of cereal preparations, 3.4 percent in November from 3.8 percent in October; dairy products, 10.8 percent from 11.4 percent; fish, 6.4 percent from 6.6 percent; fruits and vegetables, 0.9 percent from 4.2 percent; and meat, 6.1 percent from 6.6 percent. However, the price of eggs picked up to 4.3 percent from 3.8 percent while the price of miscellaneous foods moved at its October rate of 2.9 percent.
The index for rice decreased to -0.1 percent from a zero growth last month as seven regions registered negative rates. The biggest drop was observed in Western Mindanao at 2.1 percentage points.
>By Region, Month-on-Month
Prices in NCR rose to 0.5 percent in November from 0.0 percent in October. This was brought about by the upward movements in the prices of all the commodity groups except for services whose rate declined by 0.1 percent in November from an increase of 0.1 percent in October. The price of FBT went up to 0.3 percent in November from -0.3 percent in October; clothing, 1.1 percent from 0.1 percent; H&R, 1.3 percent from 0.2 percent; FLW, 1.4 percent from 1.0 percent; and miscellaneous items, 0.2 percent from zero growth.
Prices in AONCR picked up to 0.1 percent in November which was the same rate posted in October. Prices of clothing went up at its October rate of 0.1 percent, H&R and miscellaneous items, 0.2 percent. The rate for FBT went up to 0.1 percent from -0.1 percent while FLW and services remained stable as they registered zero growth this month. The highest month-on-month rate at 0.3 percent was posted in Cagayan Valley, Southern Tagalog, Eastern Visayas, Northern Mindanao and Southern Mindanao while CAR showed the lowest rate at -0.3 percent.
>By Commodity Group, Month-on-Month
A slightly higher inflation rate of 0.2 percent was posted in November from 0.1 percent in October. This was effected by the upward movements in the prices of all the commodity groups except for services which posted zero growth this month from 0.1 percent last month. The rate of FBT went up to 0.1 percent in November from -0.1 percent in October; clothing, 0.3 percent from 0.1 percent; H&R, 0.6 percent from 0.2 percent; FLW, 0.5 percent from 0.4 percent; and miscellaneous items, 0.2 percent from 0.1 percent.
Higher prices of vegetables in the markets particularly mongo beans, string beans, squash, tomatoes, onions, potatoes, carrots, ampalaya and upo along with the increments in the prices of some fruits like banana, mango, pineapple and papaya were noted. This was due to the increased demand as the holiday season approaches. Thus, the group's index picked up in the Philippines by 2.1 percent in November from -0.1 percent in October; NCR, 4.3 percent from -1.6 percent; and AONCR, 1.5 percent from 0.4 percent.
Prices of powdered tonic drink, instant coffee, some seasonings, condiments, sauces and other miscellaneous food items were higher during the month. In addition, prices of meals eaten outside the home in AONCR also increased at the rate of 0.3 percent in November from zero growth last month. All these contributed to the 0.1 percent and 0.2 percent increment in the miscellaneous foods indices of the Philippines and AONCR, respectively. However, prices of miscellaneous foods in NCR remained stable as it posted zero growth this month.
Continued upward adjustments in the prices of milk and cheese along with the price add-ons in ice cream and butter caused the index for dairy products to go up by 0.3 percent in the Philippines and AONCR and 0.4 percent in NCR in November from their last month rate of 0.2 percent.
The continued favorable weather conditions in Luzon gave abundant supply of fish in the area. Thus, indicator fish species were quoted lower in NCR and the northern provinces Declines were noted in the fish index in many of these areas. On the other hand, typhoons in the Southern Philippines kept the waters not favorable, thus, prices of fish were up in many regions. This resulted to a 0.3 percent increase in the group's index for AONCR.
As consumers shifted to the lower priced fish, demand for pork and chicken went down. The drop in the demand brought prices of pork and chicken by 0.1 percent in November from 0.2 percent in October in the NCR. However, prices of meat in AONCR were stable as it recorded a zero growth due to mix trends of the prices in the regions. Thus, the national index decreased to 0.1 percent.
Abundant supply of rice during the month due to the continued harvest season gave 0.7 percent and 0.6 percent drop in the group's index for the AONCR and Philippines, respectively. All the regions posted negative rates with the lowest rate noted in ARMM at -2.2 percent. The price of rice in NCR was however, higher by 0.1 percent in November from -0.2 percent in October.
*Price add-ons in some construction materials along with higher rental rates in many regions including NCR raised the H&R index in the Philippines and NCR by 0.6 percent and 1.3 percent, respectively. In AONCR, the group's index moved at 0.2 percent, the same rate posted in October.
*The FLW index for the Philippines and NCR advanced by 0.5 percent in the Philippines and 1.4 percent in NCR from their corresponding October rates of 0.4 percent and 1.0 percent as upward adjustments in electricity rates in many regions along with higher purchased power adjustment (PPA) and currency exchange rate adjustment (CERA) for electricity in NCR were registered. The FLW index in AONCR appeared to remain stable as it registered zero growth this month from 0.1 percent last month with many regions experiencing slight declines in the prices of kerosene and LPG and a few areas with increases in electricity and water rates.
*The miscellaneous index for the three areas rose by 0.2 percent. This resulted from the increments in the prices of some household furnishings, equipment and items for household operations. Higher prices of some items for personal care and effects also contributed to the increase.
Results of the following survey reports were not received:
1. North Cotabato -1st survey
2. Tawi-Tawi - 1st and 2nd surveys
3. Sulu - 1st and 2nd surveys
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