Summary Inflation Report Consumer Price Index (1994=100) : October 1999
Release Date: 05 November 1999
|Inflation Rates, Philippines, All Items|
l Despite increases in the prices of oil, transport fares, LPG and other fuel products as reflected in services and fuel, light and water (FLW), inflation rate decelerated to 5.4 percent on account of the strong performance of the food sector, particularly, the miscellaneous foods sector. Sugar and cooking oil showed declines during the month. Likewise, rice was sold at lower prices.
l Furthermore, food group accounts for fifty percent of the total consumption of families, thereby has a relatively bigger effect on inflation compared with other commodity groups like FLW and services. FLW's share is about 5 percent while services group accounts for about 12 percent.
CONSUMER PRICE INDEX (1994=100)
l By Commodity Group, Year-on-Year
ÃƒÆ’Ã‚Â¨ Except for fuel, light and water (FLW) and services, the rates for all other commodity groups slowed down. Food, beverages and tobacco (FBT) slowed down to 2.8 percent from 3.6 percent; clothing, 4.9 percent from 5.0 percent; housing and repairs (H&R), 8.8 percent from 9.0 percent; and miscellaneous items, 3.9 percent from 4.1 percent. The rates for FLW and services picked up to 8.6 percent from 8.0 percent and 11.4 percent from 10.2 percent, respectively.
> The inflation rate for food alone was 2.7 percent in October, lower than 3.3 percent recorded in September. Slower rates were noted in the prices of dairy products, 2.6 percent from 2.8 percent; eggs, 3.6 percent from 4.0 percent; fruits and vegetables, 6.5 percent from 10.8 percent; and miscellaneous foods, -3.0 percent from -0.1 percent. However, higher rates were posted in the prices of corn, 8.5 percent from 0.6 percent; cereal preparations, 3.7 percent from 3.5 percent; fish, 8.9 percent from 8.6 percent; and meat, 2.6 percent from 1.8 percent. The rate for rice remained at 1.0 percent.
ÃƒÆ’Ã‚Â¨ In Metro Manila (MM), the rates for FBT, clothing, and miscellaneous items were correspondingly lower by 1.6 percentage points, 0.2 percentage point and 0.5 percentage point. On the other hand, the rates for FLW and services were higher by 0.2 percentage point and 0.4 percentage point, respectively. The rate for H&R remained the same in October at 5.0 percent.
> The inflation rate for food alone in MM moved down to 0.7 percent from 2.4 percent. Lower rates were posted in the prices of dairy products, 3.2 percent from 3.3 percent; fruits and vegetables, 8.3 percent from 21.9 percent; and miscellaneous foods, -4.5 percent from -2.5 percent. However, higher rates were recorded in the prices of corn, 42.3 percent from 8.5 percent; cereal preparations, 3.0 percent from 2.3 percent; eggs, 1.0 percent from -0.7 percent, fish, 3.9 percent from 3.3 percent; meat, 0.1 percent from -1.5 percent. The price of rice decreased to -1.0 percent from -0.7 percent.
ÃƒÆ’Ã‚Â¨ For areas outside Metro Manila (AOMM), the rates for FBT decreased by 0.4 percentage point; clothing and miscellaneous items, 0.1 percentage point; and H&R, 0.3 percentage point. On the other hand, FLW increased by 0.7 percentage point and services, by 1.4 percentage points.
> The inflation rate for food alone went down to 3.2 percent in October from 3.7 percent in September.
> The inflation rate for rice rose to 1.4 percent from 1.2 percent in September. Ten regions posted higher rates, the highest being 6.0 percent in Bicol.
> Inflation rates for dairy products moved down to 2.4 percent from 2.7 percent last month; eggs, 4.4 percent from 5.6 percent; fruits and vegetables, 5.9 percent from 7.4 percent; and miscellaneous foods, -2.4 percent from 0.9 percent. Higher rates were noted in the prices of corn, 7.9 percent from 0.5 percent; cereal preparations, 4.0 percent from 3.9 percent; fish, 10.0 percent from 9.8 percent; and meat, 3.7 percent from 3.2 percent.
l By Region, Year-on-Year
ÃƒÆ’Ã‚Â¨ The inflation rate for Metro Manila went down to 4.0 percent in October from 4.7 percent in September.
ÃƒÆ’Ã‚Â¨ AOMM registered a rate of 5.9 percent in October, slightly lower than the 6.0 percent posted last month. The biggest decline was noted in Ilocos at 1.6 percentage points followed by Cagayan Valley at 0.9 percentage point. Southern Mindanao still recorded the lowest rate at 3.9 percent while the Autonomous Region in Muslim Mindanao (ARMM) posted the highest inflation rate at 8.0 percent.
l By Commodity Group, Month-on-Month
> Month-on-month inflation rates for FBT slowed down to -0.1 percent in October from 0.5 percent in September; and FLW, 1.5 percent from 2.4 percent. On the other hand, inflation rates for H&R went up to 0.3 percent from 0.2 percent and services, 1.4 percent from 0.4 percent. The rates for clothing and miscellaneous items remained at their last month's rate of 0.2 percent.
> The price of rice went down to -1.0 percent this month from zero growth last month brought about by the on-going harvest season. Month-on-month rates were negative in all the regions except for Western Mindanao with a zero growth. The lowest rate was observed in Cagayan Valley at -2.7 percent. Similarly, the price of rice in MM decreased by 0.2 percent from zero growth last month.
> Corn prices in the Philippines and AOMM increased in October to 2.6 percent and 2.1 percent, respectively, from 0.9 percent last month. MM prices significantly went up by 28.3 percent from -0.3 percent.
> Prices of cereal preparations also increased to 0.6 percent from 0.5 percent in the Philippines; 0.8 percent from 0.5 percent in MM and 0.5 percent from 0.4 percent in AOMM. This was brought about by the increase in the prices of flour, bread, noodles and native cakes during the month.
> The dairy products index slightly grew by 0.1 percent in October from zero growth in September. In MM, inflation rate for dairy products also increased but at slower rate of 0.1 percent from 0.2 percent last month while AOMM posted a zero growth this month.
> The index for eggs decreased in the Philippines, -0.4 percent from 0.2 percent; MM, -1.0 percent from -0.2 percent; and AOMM, -0.2 percent from 0.2 percent.
> Prices of fish in MM declined by 0.3 percent while in AOMM, the index slowed down to 0.1 percent, resulting to a 0.1 percent growth in the national index.
> The fruits and vegetables index slowed down by 0.2 percent from 3.3 percent in the Philippines and 0.3 percent from 3.7 percent in AOMM. In MM, fruits and vegetables index went down to -0.1 percent from 2.3 percent last month as deliveries of fruits and vegetables increased after the stormy weather conditions in the northern portion of the country improved.
> Lower prices of pork caused the MM meat index to decline by 0.2 percent. On the other hand, higher prices of beef, chicken, pork and canned meat in many regions pushed up the meat price index in AOMM by 0.2 percent causing the national index to post a 0.1 percent growth.
> Prices of sugar, cooking oil, ginger and calamansi decreased in October. The miscellaneous foods index went down by 0.1 percent in the Philippines and AOMM which were higher from their corresponding rates of -0.2 percent and -0.3 percent in September. In MM, prices of miscellaneous foods remained at its September rate of -0.2 percent.
> Prices of meals eaten outside increased at a slower rate of 0.1 percent in the Philippines and 0.2 percent in AOMM while MM posted a zero growth.
ÃƒÆ’Ã‚Â¨ The FLW index in MM went up by 1.2 percent and 1.6 percent in AOMM resulting in a 1.5 percent increase at the national level. This was brought about by the increases in the prices of LPG, kerosene, candle, firewood in many provinces along with higher rate for electricity consumption in many regions. Higher prices also of LPG, kerosene, and charcoal together with higher currency exchange rate adjustment (CERA) for electricity in MM also contributed to the increase.
ÃƒÆ’Ã‚Â¨ Services index rose to 1.4 percent in the Philippines, 0.7 percent in MM and 1.8 percent in AOMM from their last month's rate of 0.4 percent. This resulted from the increase in the prices of medicines, school supplies, gasoline, diesel and transport fares along with higher charges for haircut and medical consultation.
ÃƒÆ’Ã‚Â¨ The H&R index in the Philippines increased by 0.3 percent from 0.2 percent last month. This was due to the increases in the prices of selected construction materials like common wire nails, cement, plywood and G.I sheets along with higher rental rates in many provinces.
ÃƒÆ’Ã‚Â¨ Clothing indices in AOMM increased to 0.3 percent from 0.2 percent last month and in the Philippines, by 0.2 percent which was the same rate posted in September. This was brought about by the increase in the prices of footwear, ready-made-apparel, and sewing accessories along with higher sewing charges in many regions. In MM, the clothing index declined by 0.1 percent during the month.
ÃƒÆ’Ã‚Â¨ The MM index for miscellaneous items went down to -0.2 percent from 0.2 percent last month while AOMM registered a 0.2 percent increase which was slightly lower than the 0.3 percent in September. This resulted to a 0.2 percent increment in the national index, the same rate posted last month. This was brought about by higher prices of detergent, toilet soap, razor blade, lipstick, broom, floorwax, fluorescent tube, baby powder, hair shampoo, toothbrush and shoe polish.
l By Region, Month-on-Month
ÃƒÆ’Ã‚Â¨ In MM, except for services which increased to 0.7 percent in October from 0.4 percent in September, all other commodity groups experienced slowdowns. Lower rates were registered in the prices of FBT, -0.1 percent from 0.8 percent; clothing, -0.1 percent from 0.2 percent; H&R, 0.1 percent from 0.4 percent; FLW, 1.2 percent from 2.5 percent; and miscellaneous items, -0.2 percent from 0.2 percent.
ÃƒÆ’Ã‚Â¨ In AOMM, prices increased by 0.3 percent, slower than 0.5 percent posted last month. FBT slowed down to -0.1 percent from 0.5 percent; FLW, 1.6 percent from 2.3 percent; and miscellaneous items, 0.2 percent from 0.3 percent. Clothing recorded higher month-on-month rates by 0.1 percentage point; H&R, 0.3 percentage point; and services, 1.4 percentage points. Compared to September, ten regions posted slower rates. The highest rate was registered in ARMM at 1.5 percent while the lowest was in Cagayan Valley and Western Visayas at zero growth.
Source: National Statistics Office
Page Last Updated: November 5, 1999
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