Summary Inflation Report Consumer Price Index (1994=100) : September 2002
Release Date: 04 October 2002
SEPTEMBER AND AUGUST 2002
|Inflation Rates, Philippines, All Items|
On an annual basis, the general level of prices went up by 2.9 percent in September, similar to the inflation rate registered in August. Inflation a year ago was 6.1 percent.
Inflation rate in the National Capital Region (NCR) decelerated to 2.9 percent in September from 3.1 percent in August due to the slower movements in the prices of food, beverages and tobacco (FBT), housing and repairs (H&R) and fuel, light and water (FLW).
Inflation rate in Areas Outside the National Capital Region (AONCR) slightly slid to 2.8 percent in September from 2.9 percent in August. This was effected by the slower inflation rates of FBT, clothing and H&R. The zero growth of FLW also contributed to the downtrend.
Month-on-month inflation slipped to 0.2 percent in September from 0.5 percent in August brought about by the reduction in the prices of some food items particularly eggs, fish, fruits in season, vegetables, meat, sugar, calamansi and selected seasonings. Lower purchased power adjustment (PPA) for electricity registered in many regions including NCR also contributed to the downward movement.
CONSUMER PRICE INDEX
>By Region, Year-on-Year
*The inflation rate for the National Capital Region (NCR) slowed down by 0.2 percentage point to 2.9 percent in September from 3.1 percent in August.
*Inflation in Areas Outside the National Capital Region (AONCR) at 2.8 percent in September was slightly lower than the 2.9 percent posted in August. Only four regions registered slower inflation rates with Central Luzon recording the biggest slowdown at 1.1 percentage points. The lowest rate was seen in Central Luzon at 1.2 percent while the highest rate was in Southern Mindanao at 5.3 percent.
>By Commodity Group, Year-on-Year
The inflation rates for H&R and FLW correspondingly moved down to 4.5 percent and 0.8 percent in September from their respective August rates of 4.7 percent and 1.3 percent. Meanwhile, inflation rate for miscellaneous items slightly increased to 1.8 percent in September from 1.7 percent in August. Inflation for FBT, clothing and services remained at 2.2 percent, 2.5 percent and 4.5 percent, respectively.
The inflation rate for food alone at 2.2 percent in September was the same rate posted in August. Higher rates were observed in the prices of rice, 5.3 percent in September from 2.4 percent in August; corn, 3.7 percent from 2.8 percent; and cereal preparations, 3.2 percent from 2.8 percent. However, slower rates were noticed in the prices of dairy products, 1.8 percent from 1.9 percent; fish, 1.1 percent from 2.2 percent; fruits and vegetables, 1.9 percent from 5.8 percent; meat, -0.9 percent from –0.2 percent; and miscellaneous foods, 1.5 percent from 1.7 percent. Inflation for eggs was zero from 0.4 percent in August.
In NCR, inflation rate for FBT eased to 0.7 percent in September from 0.9 percent in August; H&R, 5.6 percent from 5.9 percent; and FLW, 2.6 percent from 3.3 percent. On the other hand, clothing rose to 3.4 percent from 3.2 percent; services, 5.0 percent from 4.7 percent; and miscellaneous items, 1.2 percent from 1.1 percent.
The inflation rate for food alone in NCR slightly moved down to 0.7 percent in September from 0.8 percent in August. Price decreases were continuously noted in corn, -16.7 percent from –12.7 percent; eggs, -3.5 percent from -4.0 percent; fish, -4.8 percent from –3.6 percent; and meat, -2.9 percent from –2.1 percent. In addition, prices of miscellaneous foods moved up but at a slower rate of 0.6 percent from 1.1 percent. Higher rates were however, recorded in the prices of rice, 3.6 percent in September from 2.3 percent in August; cereal preparations, 4.6 percent from 3.6 percent; and dairy products, 3.7 percent from 3.2 percent. Prices of fruits and vegetables went up at its August rate of 5.6 percent.
In AONCR, the rate for FBT decelerated to 2.6 percent in September from 2.7 percent in August; clothing, 2.2 percent from 2.3 percent; and H&R, 3.7 percent from 3.9 percent. Inflation for FLW was zero from 0.2 percent last month while services and miscellaneous items increased at 4.3 percent and 1.9 percent, respectively, the same rates noted in August.
Inflation rate for food alone moved at its August rate of 2.6 percent.
The price of rice grew to 5.5 percent in September from 2.4 percent in August as thirteen regions posted higher rates. The biggest increment at 11.2 percentage points was observed in Caraga followed by Southern Mindanao at 7.7 percent.
Inflation rates for corn and cereal preparations correspondingly picked up by 4.1 percent and 2.6 percent in September from their respective August rates of 3.2 percent and 2.5 percent. Meanwhile, slowdowns were noted in the prices of dairy products, 1.1 percent in September from 1.4 percent in August; eggs, 1.2 percent from 1.9 percent; fish, 2.4 percent from 3.5 percent; fruits and vegetables, 0.7 percent from 5.8 percent; meat, 0.1 percent from 0.7 percent; and miscellaneous foods, 1.8 percent from 1.9 percent.
>By Region, Month-on-Month
Prices in NCR remained stable as it posted zero growth in September from 0.2 percent in August. Slower rates were seen in the prices of FLW, 0.3 percent from 2.7 percent and miscellaneous items, 0.1 percent from 0.5 percent. Prices of clothing and services maintained their respective August rates of 0.2 percent and 0.3 percent. Meanwhile, inflation for H&R accelerated to 0.5 percent from 0.1 percent while FBT further dropped to -0.5 percent from –0.2 percent.
Prices in AONCR moved at a slower rate of 0.2 percent in September from 0.7 percent in August. Prices of FBT and miscellaneous items respectively decelerated to 0.3 percent and 0.1 percent in September from their corresponding August rates of 1.2 percent and 0.2 percent. Clothing stayed at its last month’s rate of 0.1 percent while FLW still posted a negative rate of 0.2 percent from –0.4 percent. Prices of H&R slightly moved up to 0.2 percent from 0.1 percent and services, 0.3 percent from 0.2 percent. The lowest month-on-month rate was in Central Luzon at –0.7 percent while Central Mindanao recorded the highest rate at 1.4 percent.
>By Commodity Group, Month-on-Month
The month-on-month inflation decelerated to 0.2 percent in September from 0.5 percent in August as FBT moved at a slower rate of 0.1 percent from 0.8 percent. A 0.1 percent drop in the prices of FLW also contributed to the downtrend. On the other hand, the rate of clothing climbed to 0.2 percent in September from 0.1 percent in August and H&R, 0.3 percent from 0.1 percent. Services and miscellaneous items moved at their respective August rates of 0.3 percent and 0.2 percent.
With the avTe TheWith ailability of the NFA and imported rice in the wet markets, the increase in the price of rice in NCR at 1.2 percent in September was lower than the 2.6 percent posted in August. However, in AONCR prices further moved upward to 3.2 percent from 1.8 percent as ten regions still registered higher rates. Thus, the index of rice in the Philippines rose to 2.9 percent from 1.9 percent.
The continuous heavy downpour during the earlier part of September did not affect deliveries of vegetables in the markets. Abundant supply of vegetables flowed in at the various unloading points in NCR. Declines in the prices of selected fruits in season like dalanghita and lanzones were also observed. All these factors further pulled down the fruits and vegetables index in the area to –0.8 percent in September from –0.5 percent in August. Likewise, lower prices of vegetables were also noticed in many regions. Thus, the fruits and vegetables index in AONCR declined by 4.1 percent during the month. Overall, the national index decreased by 3.3 percent from 4.7 percent.
Good production of fresh fish species brought abundant supply of fish in the wet markets. Declines were recorded in the group’s indices in the three areas: Philippines, -1.0 percent in September from –0.2 percent in August; NCR, -3.3 percent from –2.6 percent; and AONCR, -0.5 percent from 0.3 percent.
Abundant supply of pork and chicken in the markets and the continued low demand of meat as consumers shifted to the much cheaper bangus and tilapia further pulled down the meat indices in the Philippines, -0.5 percent from -0.4 percent; NCR, -0.9 percent from –0.8 percent; and AONCR, -0.4 percent from –0.1 percent.
Higher rental rates observed in selected regions including NCR raised the H&R index in the Philippines by 0.3 percent; NCR, 0.5 percent; and AONCR, 0.2 percent.
The services indices in the three areas advanced by 0.3 percent in September due to the upward adjustments in the prices of medicines, some medical and health goods, textbooks, selected school supplies, gasoline, diesel, engine oil and lubricating oil. Higher charges for some personal services along with the increase in the wages of household help also contributed to the uptrend of the group’s index.
Lower purchased power adjustment (PPA) for electricity in selected regions caused the FLW index in AONCR to drop by 0.1 percent. Similarly, the lower PPA for electricity in NCR offset the higher prices of LPG and kerosene in the area. Thus, the FLW prices in NCR moved at a slower rate of 0.3 percent in September from 2.7 percent in August. Overall, the group’s index declined to -0.1 percent from 0.7 percent.
Increments in the prices of footwear, ready-made apparel and sewing accessories along with the higher sewing charges raised the clothing indices by 0.2 percent in the Philippines and NCR and 0.1 percent in AONCR.
The 2nd survey reports from the following provinces were not received as of October 3, 2002:
Lanao del Sur
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