PREVIOUS RELEASE

Summary Inflation Report Consumer Price Index (2006=100) : December 2014

Release Date: [field_releasedate]
Release Date: 06 January 2015

 


Year-on-Year Inflation Rates, All Items
  Dec 2014 Nov 2014 Dec 2013 Year-to-date
  Philippines        
     Headline 2.7 3.7 4.1 4.1
     Core 2.3 2.7 2.8 3.0
  NCR        
     Headline 1.6 2.4 2.6 3.2
  AONCR        
    Headline 3.0 4.0 4.6 4.5

 

  • The country's annual headline inflation continued to move at a slower pace of 2.7 percent in December. Last month, it was registered at 3.7 percent and in December 2013, 4.1 percent. The slowdown resulted primarily from the annual decreases in the indices of housing, water, electricity, gas and other fuels and transport. Contributing also to the downtrend were the lower annual increments in the indices of food and non-alcoholic beverages; alcoholic beverages and tobacco; furnishing, household equipment and routine maintenance of the house; health; and recreation and culture.

  • The annual average headline inflation at the national level for the year 2014, however, picked up to 4.1 percent from a rate of 3.0 percent in 2013.

  • Excluding selected food and energy items, core inflation further eased to 2.3 percent in December. Last month, it was recorded at 2.7 percent. The annual average core inflation inched up 3.0 percent in 2014. In 2013, it was 2.9 percent.

     

  • Inflation in the National Capital Region (NCR) likewise further decelerated to 1.6 percent in December. It was 2.4 percent in November and in December 2013, 2.6 percent. This can be mainly attributed to the annual declines in the indices of housing, water, electricity, gas and other fuels and transport.  Moreover, lower annual growths were also noted in the indices of food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; furnishing, household equipment and routine maintenance of the house; and communication. The annual average inflation in the area was posted at 3.2 percent in 2014. Last year, it was 1.6 percent.

    • In Areas Outside NCR (AONCR), inflation slowed to 3.0 percent in December 2014. Inflation was 4.0 percent last month and 4.6 percent in December 2013. This was due to the negative annual rates registered in the indices of housing, water, electricity, gas and other fuels and transport. In addition, slower annual increments were noticed in the indices of food and non-alcoholic beverages; alcoholic beverages and tobacco; clothing and footwear; health and recreation and culture. The average inflation for 2014 went up to 4.5 percent from its 2013 rate of 3.3 percent.

  •  

    Year-on-Year Inflation Rates in the Philippines, All Items
    January 2009 - December 2014
    (2006=100)

    Month

    Year

    2009 2010 2011 2012 2013 2014
    January

    7.1

    3.9

    4.0

    4.0

     3.1  4.2
    February

    7.2

    3.9

    4.7 2.7 3.4  4.1
    March

    6.7

    3.9

    4.9 2.6 3.2 3.9
    April

    5.6

    4.0 4.7 3.0 2.6 4.1
    May

    4.3

    3.9 4.9 3.0 2.6 4.5
    June

    3.2

    3.6 5.2 2.9  2.7 4.4
    July

    2.2

    3.7 4.9 3.2 2.5 4.9
    August

    1.7

    4.1 4.6 3.8 2.1 4.9
    September

    2.3

    3.8 4.7 3.7 2.7 4.4
    October

    2.9

    3.3 5.2 3.2 2.9 4.3
    November

    3.5

     3.7 4.7 2.8 3.3 3.7
    December

    4.4

    3.6 4.2 3.0 4.1 2.7
    Average

    4.2

    3.8 4.6 3.2 3.0 4.1

     

    Month-on-Month Inflation Rates, All Items
    (2006=100)
      Dec 2014 Nov 2014
      Philippines - 0.2 - 0.1
      NCR - 0.2 - 0.3
      AONCR - 0.2  - 0.1

     

    • Consumer prices moved in general by -0.2 percent in December. This was effected by the lower charges in electricity rates in many regions and price roll backs in LPG, kerosene, gasoline and diesel nationwide. Cheaper prices of selected food items such as vegetables, selected spices, sugar, rice, corn and cooking oil in many regions were also noted during the month.


      CONSUMER PRICE INDEX
      (2006=100)
      DECEMBER 2014

       By Region, Year-on-Year

    • Annual inflation in NCR slowed to 1.6 percent in December.
    • Annual inflation in AONCR further improved to 3.0 percent in December as all the regions posted lower annual rates. The lowest rate of 1.9 percent was posted in Central Luzon while the highest growth was still noticed in Eastern Visayas at 4.1 percent.

    • Among the regions in AONCR, the lowest annual average inflation in 2014 at 3.6 percent was posted in Central Luzon and Davao while Eastern Visayas had the highest average annual inflation at 4.1 percent.
       

       By Commodity Group, Year-on-Year

    • The annual growth in housing, water, electricity, gas and other fuels index  in the Philippines dropped by 1.6 percent in December and transport index, -1.0 percent. In addition, all the other commodity groups posted slower annual mark-ups except the indices of clothing and footwear; communication; education; and restaurant and miscellaneous goods and services which retained their last month’s rates.

    • A lower annual rate of 5.8 percent was noted in the country’s food alone index in December. Its previous month’s annual growth was 6.7 percent and in December 2013, 5.0 percent.

    • Slower annual gains were noted in all the food groups.

    • The annual average change for food alone index climbed to 7.0 percent in 2014. In 2013, it was 2.8 percent.

    • Compared to 2013 average rates, the annual average hike in food and non-alcoholic beverages index was higher at 6.7 percent in 2014; housing, water, electricity, gas and other fuels index, 2.3 percent; health index, 3.3 percent; transport index, 0.9 percent; and education index, 4.9 percent. The rest of the commodity groups however, had lower annual average increments during the year with the communication index having a zero growth.

    • In NCR, the indices of housing, water, electricity, gas and other fuels and transport both dropped by 2.7 percent. Moreover, the annual growth of food and non-alcoholic beverages index improved to 5.2 percent; alcoholic beverages and tobacco index; 4.8 percent; clothing and footwear, 4.7 percent; furnishing, household equipment and routine maintenance of the house index, 4.1 percent; and communication index, 0.1 percent. That for recreation and culture, however, had a faster growth of 2.8 percent. The rest of the commodity groups retained their previous month’s rates.

      • The food alone index in NCR continued to move at a slower pace of 5.4 percent in December. Its annual growth last month was 5.9 percent and in December 2013, 3.9 percent.

      • A negative annual adjustment was still registered in the vegetable index at -2.4 percent in December. Slower annual increments were also noticed in the rice index at 11.8 percent; fish index, 3.8 percent; milk, cheese and egg index, 6.6 percent; oils and fats, 1.5 percent; sugar, jam, honey, chocolate and confectionery index, 4.3 percent; and food products not elsewhere classified index, 4.7 percent. The rest of the food groups had faster annual gain with the index of meat retaining its last month’s rate of 5.1 percent.

      • The annual average growth of the food alone index in the area leaped to 6.5 percent in 2014. It was 2.2 percent a year ago.

      • Compared to their 2013 rates, the annual average of the following indices increase during the year: food and non-alcoholic beverages index was higher at 6.2 percent during the year; clothing and footwear, 3.9 percent; housing, water, electricity, gas and other fuels index, 1.1 percent; health index, 4.6 percent; transport index, 0.9 percent; recreation and culture index, 2.5 percent; education index, 5.2 percent; and restaurant and miscellaneous goods and services index, 1.3 percent. On the other hand, annual average rates for the other commodity groups decelerated with the communication index maintaining its last year’s figure of 0.2 percent.

    • In AONCR, the indices of housing, water, electricity, gas and water and transport correspondingly recorded annual declines of 1.2 percent and 0.6 percent. Moreover, the food and non-alcoholic beverage index moved slower at 5.6 percent; alcoholic beverages and tobacco index, 3.9 percent; clothing and footwear index, 2.9 percent; health index, 2.5 percent; and recreation and culture index, 0.9 percent. The rest of the commodity groups retained their last month’s rates.
      • Measured from a year ago, the food alone index in AONCR further slid to 5.9 percent in December. Its annual change in November was 6.9 percent and in December 2013, 5.1 percent.

      • The annual growth in the rice index eased to 9.1 percent in December. Except in CALABARZON whose annual mark-up was faster at 10.9 percent, all the regions had slower annual rates during the period. The lowest growth of 4.9 percent was in Northern Mindanao while the highest annual gain was in MIMAROPA at 13.3 percent.

      • Likewise, all the other food groups had lower annual upticks.

      • The 2014 annual average growth of the food alone index in AONCR was placed at 7.1 percent, faster than its 2013 rate of 2.9 percent.

      • From their 2013 rates, the annual average growth for food and non-alcoholic beverages index picked up to 6.8 percent in 2014; housing, water, electricity, gas and other fuels index, 2.7 percent; and education index, 4.9 percent.  Those for the rest of the commodity groups were slower with the communication index posting a zero growth.

       By Region, Month-on-Month

  • Prices of consumer items in NCR generally continued to drop as it moved by -0.2 percent in December. Last month, it declined by 0.3 percent. The index for housing, water, electricity, gas and other fuels index decreased by 0.6 percent  and transport index, -1.4 percent. Moreover, a slowdown in clothing and footwear index at 0.1 percent was also noted during the month. The rest of the commodity groups registered higher rates or had zero growth.

  • Likewise, consumer prices in AONCR further went down by 0.2 percent in December. This was effected by the 0.1 percent reduction in the heavily-weighted food and non-alcoholic beverages index and housing, water, electricity, gas, and other fuels and transport indices, -0.7 percent. Moreover, the upward adjustment in alcoholic beverages and tobacco index slowed to 0.3 percent. The rest of the commodity groups had higher annual growths or retained their previous month’s rate.

  • Compared to last month, ten regions in AONCR posted negative rates in December. ARMM had a slower mark-up while Davao and Caraga recorded a zero growth. On the other hand, Zamboanga Peninsula and SOCCSKSARGEN had higher monthly growth while Eastern Visayas retained its November figure of 0.1 percent. The lowest rate of -0.5 percent was observed in CAR, Ilocos and Bicol while the highest growth of 0.1 percent was posted in Eastern Visayas, Zamboanga Peninsula, SOCCSKSARGEN and ARMM.

  • Among the three big areas of the country, downward price adjustments were prevalent in the regions in Luzon compared to those in Visayas and Mindanao.

  •    By Commodity Group, Month-on-Month

    • Consumer prices at the national level generally declined by 0.2 percent in December. It resulted from the 0.6 percent reduction in the index for housing, water, electricity, gas and other fuels; -0.8 percent in the transport index; and -0.1 percent in the food and non-alcoholic beverages index. Moreover, the monthly gain in alcoholic beverages and tobacco index eased to 0.3 percent. A higher rate of 0.2 percent was, however, noticed in the indices of clothing and footwear and furnishing, household equipment and routine maintenance of the house. The rest of the commodity groups retained their last month’s rate or had zero growth.

      • Increased supplies of vegetables in the markets pushed down their prices during the month. Ten regions had negative rates in vegetables index. Thus, the group’s index in the Philippines and AONCR correspondingly dropped by 1.6 percent and 1.9 percent. On the contrary, the vegetable index in NCR went up 0.4 percent due to lesser deliveries of tropical and temperate vegetables in the markets.

      • Prices of sugar went down in most of the regions. Thus, the index for sugar, jam, honey, chocolate and confectionery in AONCR fell by 0.7 percent during the month. Meanwhile, the group’s index in NCR inched up 0.2 percent due to price hikes in sugar. At the national level, the index dropped by 0.6 percent.

      • With ginger being priced lower in many regions, the index of food products not elsewhere classified in the Philippines and AONCR dipped by 0.4 percent and in NCR, -0.6 percent.

      • Prices of corn were generally lower in many regions. Hence, the group’s index in the Philippines and in AONCR contracted by 0.6 percent. Meanwhile, prices of corn in NCR were higher as its index grew by 2.3 percent during the period.

      • The month-on-month adjustment in the index for oils and fats continued to be on the downtrend as cheaper prices of cooking oil were still observed in selected regions. This effected a 0.2 percent drop in oils and fats index in the Philippines and AONCR. In NCR, the mixed price movements among the commodities under the group resulted to a zero growth in its index during the month.

      • Higher demand for fish products resulted to price hikes particularly on fresh fishes, shrimps and crabs. The difficulty in catching fish  due to bad weather conditions brought by typhoon “Ruby” also limited the volume of fish supply in selected regions. These factors resulted to a 0.3 percent uptick in the group’s index in the Philippines and AONCR and 0.2 percent in NCR.

      • Bigger demand for fruits during the holiday season raised its group’s index in the Philippines by 0.6 percent; NCR, 0.1 percent; and AONCR, 0.8 percent.

    • The index for housing, water, electricity, gas and other fuels in the Philippines and NCR decreased by 0.6 percent and in AONCR, -0.7 percent. Lower charges in electricity rates were still observed in many provinces.  Moreover, a nationwide downward price adjustment in LPG and kerosene  was still noted during the month.

    • The series of price roll backs in gasoline and diesel all over the country  further pushed down the transport index in the Philippines by 0.8 percent;  NCR, -1.4 percent; and AONCR;  -0.7 percent.

    • With upward price adjustments in meals eaten outside the home and in some items for personal care and effects in selected provinces, the index for restaurant and miscellaneous goods and services in the Philippines and AONCR gained 0.2 percent. In NCR, the group’s index still had a zero growth.

    Notes:

    1. The following survey reports were not received as of January 5, 2015:
    • Western Samar- first and second phase
    • Benguet- second phase
    • Basilan – second phase
    1. 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.) LISA GRACE S. BERSALES, Ph.D.
                           National Statistician


    AttachmentSize
    PDF icon Table 1 Monthly CPI for All Income Households in the Philippines by Commodity Group: (2006=100)7.42 KB
    PDF icon Table 1A Monthly CPI for All Income Households in NCR by Commodity Group: (2006=100)7.44 KB
    PDF icon Table 1B Monthly CPI for All Income Households in Areas Outside NCR by Commodity Group: (2006=100)7.26 KB
    PDF icon Table 2 Monthly CPI for All Income Households in the Philippines by Commodity Group, Area/Region: (2006=100)17.64 KB
    PDF icon Table 3 Month-on-Month Changes of the CPI by Area in Percent: (2006=100)4.73 KB
    PDF icon Table 4 Year-on-Year Changes of the CPI by Area in Percent: (2006=100)4.69 KB
    PDF icon Table 5 Month-on-Month Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)9.63 KB
    PDF icon Table 6 Year-on-Year Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)11.95 KB
    PDF icon Table 7 Month-on-Month Regional Inflation Rates by Commodity Group: (2006=100)9.67 KB
    PDF icon Table 8 Year-on-Year Regional Inflation Rates by Commodity Group: (2006=100)10.03 KB
    PDF icon Table 9 Regional Month-on-Month Inflation Rates of Selected Food Items: (2006=100)20.74 KB
    PDF icon Table 10 Regional Year-on-Year Inflation Rates of Selected Food Items: (2006=100)32.73 KB
    PDF icon Table 11 Monthly CPI for Food and Food and Non-Alcoholic Beverages for All Income Households, by Area: (2006=100)5.25 KB
    PDF icon Table 12 Month-on-Month Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)4.83 KB
    PDF icon Table 13 Year-on-Year Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)5.12 KB
    PDF icon Table 14 Monthly Headline and Core CPI for All Income Households in the Philippines: (2006-100)4.43 KB
    PDF icon Table 15 Headline and Core Inflation Rates in the Philippines: (2006=100)4.55 KB
    PDF icon Table 16 CPI for All Income Household in the Philippines, by Selected Commodities and by Geographic Area: (2006=100)13.5 KB
    PDF icon Table 17 CPI for All Income Households in the Philippines by Major Commodity Group: (2006=100)45.72 KB
    PDF icon Table 18 CPI for All Income Households in the National Capital Region by Major Commodity Group: (2006=100)46.34 KB
    PDF icon Table 19 CPI for All Income Households in Areas Outside NCR by Major Commodity Group: (2006=100)42.49 KB
    PDF icon The 2006-based Consumer Price Index154.44 KB
    PDF icon Primer on Consumer Price Index473.65 KB
    PDF icon Primer on Core Inflation119.51 KB

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