Summary Inflation Report Consumer Price Index (2000=100) : June 2005
Release Date: 05 July 2005
Year-on-Year Inflation Rates, All Items
Year-on-year headline inflation rate at the national level slowed down to 7.6 percent in June from 8.5 percent in May. Except for clothing, inflation rates for all the commodity groups decelerated. Inflation a year ago was 5.4 percent.
Excluding selected food and energy items, core inflation eased by 0.5 percentage point to 7.1 percent in June from 7.6 percent in May.
Likewise, inflation rate in the National Capital Region (NCR) improved by 0.2 percentage point to 8.4 percent in June from 8.6 percent in May. This was effected by the lower rates posted in clothing, services and miscellaneous items.
Inflation rate in Areas Outside the National Capital Region (AONCR) was also slower at 7.3 percent in June from 8.3 percent in May due to lower inflation rates in all the commodity groups except in clothing
Month-on-Month Inflation Rates, All Items
Month-on-month inflation rose to 0.9 percent in June from 0.5 percent in May due to the upward adjustments in the prices of selected food items such as eggs, fish, fruits and vegetables. Higher prices of clothing and footwear items, selected construction materials, medicines and selected school supplies along with tuition fee hikes posted in many regions also contributed to the uptrend. Higher charges for electricity consumptions in NCR were also noted during the month.
CONSUMER PRICE INDEX
l By Region, Year-on-Year
The inflation rate for the National Capital Region (NCR) moved slowly by 0.2 percentage point to 8.4 percent in June from 8.6 percent in May.
Inflation in Areas Outside the National Capital Region (AONCR) at 7.3 percent in June was slower than the 8.3 percent in May as all the regions recorded lower inflation rates. The biggest slowdown was observed in Western Mindanao at 2.2 percentage points. The lowest rate was seen in Bicol at 6.3 percent while the highest rate at 9.7 percent was still registered in Southern Mindanao.
l By Commodity Group, Year-on-Year
All the commodity groups posted lower rates in June except for clothing whose inflation remained at 3.7 percent. The inflation rate for food, beverages and tobacco (FBT) eased to 6.5 percent in June from 6.9 percent in May; housing and repairs (H&R), 4.4 percent from 4.8 percent; fuel, light and water (FLW), 19.1 percent from 20.1 percent; services, 11.2 percent from 14.3 percent; and miscellaneous items, 3.4 percent from 3.5 percent.
The inflation rate for food alone decelerated to 6.5 percent in June from 7.0 percent in May.
Slower rates were seen in the prices of corn, 8.7 percent in June from 9.3 percent in May; cereal preparations, 9.5 percent from 9.8 percent; dairy products, 10.9 percent from 11.9 percent; eggs, 3.7 percent from 4.7 percent; fruits and vegetables, 3.5 percent from 6.5 percent; miscellaneous foods, 5.6 percent from 6.0 percent; and meals eaten outside, 4.4 percent from 4.6 percent. Inflation for cereals advanced to 8.0 percent from 7.9 percent; rice, 7.9 percent from 7.8 percent; fish, 7.1 percent from 6.9 percent; and meat, 5.0 percent from 4.9 percent.
In NCR, inflation for clothing slid to 3.2 percent in June from 3.3 percent in May; services, 11.3 percent from 13.5 percent; and miscellaneous items, 3.1 percent from 3.2 percent. On the other hand, inflation rates for FBT and FLW correspondingly increased to 4.2 percent and 32.6 percent from 3.9 percent and 32.5 percent. Inflation for H&R remained at 6.3 percent.
Inflation for food alone in NCR went up to 4.2 percent in June from 3.9 percent in May.
Higher annual inflation rates were posted in the prices of corn, 12.2 percent from 9.9 percent; fish, 5.6 percent from 1.2 percent; and meat, 6.1 percent from 4.0 percent. On the other hand, annual add-ons in the prices of cereals improved to 5.3 percent from 5.6 percent; rice, 5.2 percent from 5.5 percent; cereal preparations, 9.0 percent from 9.6 percent; dairy products, 10.4 percent from 10.7 percent; and miscellaneous foods, 1.3 percent from 1.8 percent. Negative annual rates were posted in the prices of eggs (-1.6%) and fruits and vegetables (-0.1%) from -1.1 percent and 3.5 percent, respectively.
In AONCR, annual inflation rates of all the commodity groups slowed down in June except for clothing whose annual rate was still at 3.8 percent. Inflation for FBT slackened to 7.2 percent in June from 7.8 percent in May; H&R, 3.0 percent from 3.7 percent; FLW, 12.6 percent from 14.3 percent; services, 11.2 percent from 14.8 percent; and miscellaneous items, 3.4 percent from 3.5 percent.
Inflation rate for food alone was lower by 0.7 percentage point to 7.2 percent in June from 7.9 percent in May.
Slower increases were posted in the price of corn, 8.7 percent from 9.2 percent; cereal preparations, 9.7 percent from 9.9 percent; dairy products, 11.1 percent from 12.3 percent; eggs, 5.4 percent from 6.5 percent; fish, 7.4 percent from 8.2 percent; fruits and vegetables, 4.7 percent from 7.5 percent; meat, 4.5 percent from 5.3 percent; miscellaneous foods, 7.5 percent from 7.8 percent; and meals eaten outside, 7.0 percent from 7.1 percent. On the other hand, higher annual price hike was seen in cereals at 8.4 percent from 8.2 percent.
On an annual basis, the price of rice accelerated to 8.3 percent in June from 8.1 percent in May. Nine regions posted higher rates. The biggest jump of 2.5 percentage points (7.1 percent from 4.6 percent) was recorded in Central Visayas followed by Ilocos at 1.3 percentage points (12.9 percent from 11.6 percent).
l By Region, Month-on-Month
Prices in NCR climbed by 1.5 percent in June from 0.3 percent in May. Prices of FBT items went up to 0.8 percent from 0.3 percent; FLW items, 2.7 percent from 0.8 percent; and services items, 3.8 percent from 0.2 percent. While add-ons in the prices of H&R items slightly slowed down to 0.1 percent from 0.2 percent, movement in the prices of clothing items remained at 0.1 percent. Prices of miscellaneous items remained stable as it posted zero growth from 0.3 percent.
Price movements in AONCR were still registered at 0.6 percent in June. Prices of services items picked up to 1.1 percent in June from 0.5 percent in May. On the other hand, increases in the prices of FBT and FLW items were slower at 0.6 percent and 0.5 percent from 0.7 percent and 1.1 percent, respectively. Add-ons in the prices of clothing and miscellaneous items were still posted at 0.3 percent and H&R items at 0.2 percent. The highest month-on-month inflation at 0.9 percent was noticed in ARMM while the lowest rate at 0.3 percent was seen in CAR.
l By Commodity Group, Month-on-Month
At the national level, month-on-month inflation rate advanced to 0.9 percent in June from 0.5 percent in May. Upward adjustments were noted in the prices of FBT items at 0.7 percent from 0.6 percent; clothing items, 0.3 percent from 0.2 percent; FLW items, 1.3 percent from 1.0 percent; and services items, 2.1 percent from 0.3 percent. Price add-ons in miscellaneous items slowed to 0.2 percent from 0.3 percent while that for H&R items was still at 0.2 percent.
The price of rice in NCR was slightly reduced by 0.3 percent in June from zero growth in May. Meanwhile, its price in AONCR and Philippines correspondingly moved up at slower rates of increases of 1.1 percent and 0.9 percent from 2.1 percent and 1.9 percent. In AONCR, twelve regions posted lower rates.
Higher prices of fruits and vegetables were observed during the month. Thus, the group’s index picked up by 1.0 percent in the Philippines, 3.3 percent in NCR and 0.3 percent in AONCR.
The surge in demand due to the start of the school year brought up prices of meat in the three areas: Philippines, 0.6 percent; NCR, 1.2 percent; and AONCR, 0.4 percent.
Upward adjustments in the prices of cooking oil, margarine, coffee and selected spices and seasonings in selected regions including NCR caused the 0.4 percent uptick in the miscellaneous foods index in the Philippines and AONCR and 0.3 percent in NCR.
A 0.9 percent price increase in fish in the NCR was observed as rains and tropical depressions affected prices in the area. Likewise, prices of fish in AONCR went up by 0.2 percent in June as nine regions posted positive rates. Thus, the national index for fish increased by 0.3 percent.
The index for cereal preparations in the three areas pegged an increase of 0.5 percent as prices of flour, bread, biscuits and noodles were still on the uptrend.
Tuition fee hikes in many regions including in NCR were noted during the month. Price uptick in selected school supplies, diesel and medicines were also noticed this month. All these contributed to increments in the services index at 2.1 percent in the Philippines, 3.8 percent in NCR and 1.1 percent in AONCR.
The FLW index in AONCR rose by 0.5 percent as prices of kerosene, firewood, LPG and charcoal were up during the month along with higher electricity and water charges seen in some regions. Similarly, higher generation and system loss charges in electricity rates in NCR pushed up its group’s index by 2.7 percent. Overall, the national index also increased by 1.3 percent.
Price increments in cement, plywood, nails, G.I sheets, sand and gravel posted in selected regions including NCR raised the H&R index in the Philippines and AONCR by 0.2 percent and NCR, 0.1 percent.
NOTES: CPIs and inflation rates by province and selected city are also available upon request at NSO, Industry and Trade Statistics Department, Economic Indices and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
|(Sgd.) CARMELITA N. ERICTA
Source: National Statistics Office
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