PREVIOUS RELEASE

Summary Inflation Report Consumer Price Index (2006=100) : January 2016

Release Date: [field_releasedate]
Release Date: 05 February 2016

 

Year-on-Year Inflation Rates, All Items
  Jan 2016 Dec 2015 Jan 2015 Year-to-date
  Philippines        
     Headline 1.3 1.5 2.4 1.3
     Core 1.8 2.1 2.2 1.8
  NCR        
     Headline 0.6 1.1 1.5 0.6
  AONCR        
    Headline 1.5 1.5 2.7 1.5

 

  • The year started off with a lower national headline inflation rate of 1.3 percent. It was recorded at 1.5 percent a month ago and in January 2015, 2.4 percent. This was primarily due to the annual decline in housing, water, electricity, gas, and other fuels. Lower annual growths were also noticed in the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; transport; and recreation and culture.

  • Excluding selected food and energy items, core inflation eased to 1.8 percent in January 2016. It was posted at 2.1 percent a month ago and 2.2 percent in January 2015.

    • In NCR, inflation slowed down to 0.6 percent in January 2016. It was registered at 1.1 percent a month ago and 1.5 percent in January 2015. The index of housing, water, electricity, gas, and other fuels continued to post negative annual rate. Moreover, slowdowns in the annual increment were observed in the indices of food and non-alcoholic beverages; clothing and footwear; health; transport; recreation and culture; and restaurant and miscellaneous goods and services.

    • Inflation in Areas Outside NCR (AONCR) was pegged at 1.5 percent in January 2016, same growth a month ago. In January 2015, the rate was 2.7 percent. Mixed movements in the annual growths among the commodity groups were noticed during the month. The indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; and transport exhibited lower annual increases. The rest of the commodity groups either retained their previous month’s rate or had higher annual increments except for communication index which had a zero growth.

     

    Year-on-Year Inflation Rates in the Philippines, All Items
    January 2011 - January 2016
    (2006=100)

    Month

    Year

    2011 2012 2013 2014 2015 2016
    January

    4.0

    4.0

     3.1  4.2 2.4 1.3
    February 4.7 2.7 3.4  4.1 2.5  
    March 4.9 2.6 3.2 3.9 2.4  
    April 4.7 3.0 2.6 4.1 2.2  
    May 4.9 3.0 2.6 4.5 1.6  
    June 5.2 2.9  2.7 4.4 1.2  
    July 4.9 3.2 2.5 4.9 0.8  
    August 4.6 3.8 2.1 4.9 0.6  
    September 4.7 3.7 2.7 4.4 0.4  
    October 5.2 3.2 2.9 4.3 0.4  
    November 4.7 2.8 3.3 3.7 1.1  
    December 4.2 3.0 4.1 2.7 1.5  
    Average 4.6 3.2 3.0 4.1 1.4  

     

    Month-on-Month Inflation Rates, All Items
    (2006=100)
      Jan 2016 Dec 2015
      Philippines   0.2   0.2
      NCR - 0.2 - 0.1
      AONCR   0.3   0.2

     

    • Consumer prices at the start of the year generally increased by 0.2 percent. This was primarily attributed to the price mark-ups exhibited in selected food items such as fish, vegetables, fruits and meat. Cigarettes and alcoholic beverages were also priced higher during the period. In addition, increased charges in selected medical and hospital services and upward adjustment in prices of medicines and some medical products were observed in NCR and selected regions.


      CONSUMER PRICE INDEX
      (2006=100)
      JANUARY 2016

       By Region, Year-on-Year

    • Inflation in NCR slowed down to 0.6 percent in January 2016.
    • Inflation in AONCR went up by 1.5 percent in January 2016, the same rate posted a month ago. Higher annual increments were observed in nine regions. The highest annual inflation of 3.0 percent was recorded in Cagayan Valley and Davao Region while the lowest remained in Bicol Region at -0.2 percent.

       By Commodity Group, Year-on-Year

    • At the country level, the annual change in housing, water, electricity, gas and other fuels index further dropped by 0.5 percent. Moreover, slower annual mark-ups were noted in the indices of clothing and footwear at 2.1 percent; furnishing, household equipment and routine maintenance of the house, 1.5 percent; health, 1.8 percent; transport, 1.5 percent; and recreation and culture, 1.0 percent. On the contrary, a higher annual gain of 4.7 percent was seen alcoholic beverages and tobacco index. The rest of the commodity groups retained their previous month’s rates.

    • The annual growth of the country’s food alone index improved to 1.7 percent in January 2016. It was pegged at 1.8 percent a month ago and in January 2015, 5.6 percent.

    • The index for rice still registered negative annual rate at -2.4 percent. Similarly, lower annual growths were seen in the indices of fish at 3.4 percent; milk, cheese and egg, 1.2 percent; fruits, 3.4 percent; and vegetables, 11.9 percent. On the other hand, the annual uptick in the corn index was higher at 0.9 percent; other cereals, flour, cereal preparation, bread, pasta and other bakery products index, 1.1 percent; sugar, jam, honey, chocolate and confectionery index, 5.6 percent; and food products, not elsewhere classified index, 3.0 percent. The other food groups moved at their rates a month ago.

    • In NCR, the index of housing, water, electricity, gas and other fuels further declined by 1.9 percent. Moreover, lower annual growths were exhibited in the indices of food and non-alcoholic beverages at 1.7 percent; clothing and footwear, 1.6 percent; health, 1.3 percent; transport, 1.0 percent; recreation and culture, 1.8 percent; and restaurant and miscellaneous goods and services, 0.3 percent. The rest of the commodity groups recorded higher annual add-ons or retained their last month’s rates.

      • The annual growth of the food alone index in NCR decelerated to 1.8 percent in January 2016. Its previous month’s annual rate was 2.1 percent and in January 2015, 4.8 percent.

      • Annual downward adjustment was still observed in the index of rice at -3.5 percent. In addition, slower annual gains were noticed in the indices of fish at 0.7 percent and vegetables, 15.0 percent. The rest of the food groups either had higher annual upticks or retained their previous month’s rates.

    • In AONCR, the annual add-on in food and non-alcoholic beverages index was higher at 1.7 percent; alcoholic beverages and tobacco index, 5.1 percent; housing, water, electricity, gas, and other fuels index, 0.1 percent; and health index, 2.0 percent. The rest of the commodity groups either had slower increments or retained their previous month’s rates except for the communication index, which had a zero growth.
      • Movement in the food alone index in AONCR was pegged at 1.7 percent in January 2016. It was the same rate posted a month ago, while in January 2015, 5.8 percent.

      • A double-digit annual mark-up of 11.4 percent in the vegetable index was noted during the month. Faster annual growth was also seen in corn index at 0.1 percent; sugar, jam, honey, chocolate and confectionery index, 6.1 percent; and food products, not elsewhere classified index, 3.5 percent.

      • The rice index continued its downtrend as it went down by 2.3 percent. Annual declines were noted in 12 regions with Bicol Region still registering the lowest rate at -9.8 percent. On the other hand, the highest growth of 2.7 percent remained in ARMM.

      • The rest of the food groups either had lower annual increases or retained their previous month’s rates.

       By Region, Month-on-Month

  • Prices of consumer items in NCR further dropped by 0.2 percent in January 2016. In December 2015, it was registered at -0.1 percent. The downtrend was triggered by the 0.8 percent decrease in housing, water, electricity, gas, and other fuels index and transport index, -0.5 percent. However, the indices for clothing and footwear and furnishing, household equipment and routine maintenance of the house inched up 0.4 percent and 0.2 percent, respectively. The other commodity groups had zero growth with the health index retaining its previous month’s rate of 0.1 percent.

  • Consumer prices in AONCR, however, inched up 0.3 percent in January 2016. It was recorded at 0.2 percent a month ago. Monthly upticks were higher in the indices of food and non-alcoholic beverages at 0.8 percent; furnishing, household equipment and routine maintenance of the house, 0.3 percent; and health, 0.4 percent. However, the index for clothing and footwear recorded a slower growth of 0.2 percent. In addition, the transport index fell by 0.1 percent. The rest of the commodity groups either retained their previous month’s rates or had a zero growth.

  • Eight regions had higher rates. Zamboanga Peninsula posted the highest growth of 1.5 percent while the lowest at -0.1 percent was seen in Eastern Visayas and Negros Island Region.

  • Among the three big areas of the country, consumer prices moved at a faster pace in Mindanao compared to those in Luzon and Visayas.

  •    By Commodity Group, Month-on-Month

    • The month-on-month adjustment in consumer prices at the national level remained at 0.2 percent in January 2016. The index of the heavily-weighted food and non-alcoholic beverages climbed by 0.7 percent; alcoholic beverages and tobacco index, 1.0 percent; and health index, 0.4 percent. Meanwhile, slower monthly gain of 0.1 percent was observed in restaurant and miscellaneous goods and services index. The rest of the commodity groups either had negative monthly rates or had zero growth.

      • The difficulty in catching fish that usually settle deep in the waters during the cold months and the bigger demand as consumers shifted from meat to fish after the holiday season limited its supply in many regions. The fish index in NCR jumped by 1.3 percent and AONCR, 1.9 percent. At the national level, the group’s index accelerated 1.8 percent.

      • Higher prices of vegetables, particularly eggplant, bitter gourd and tomatoes, raised the groups index in AONCR by 3.4 percent and NCR, 0.1 percent. The national index for vegetables rose by 2.9 percent.

      • Prices of fruits, such as mango, papaya and banana, were higher during the month. Thus, the group’s index advanced by 0.5 percent in NCR and 1.4 percent in AONCR. In the Philippines, it picked up by 1.2 percent.

      • The meat index grew by 0.3 percent in AONCR and 0.1 percent in NCR. This was due to higher prices of fresh beef, chicken and pork. Upward price adjustments in processed meat were also noted in selected regions. At the country level, the index inched up by 0.3 percent.

      • Enough supplies of rice in NCR markets resulted to a 0.9 percent reduction in the rice index in the area. Meanwhile, a zero growth was recorded in the rice index in AONCR as mixed price adjustments were observed among the regions. In the Philippines, the group’s index dropped by 0.1 percent.

    • Higher prices of cigarettes and alcoholic beverages in many regions raised the index for alcoholic beverages and tobacco index in the three areas: Philippines, 1.0 percent; NCR, 1.2 percent; and AONCR, 0.9 percent.

    • Charges in selected medical and hospital services were higher in NCR and in some provinces. Moreover, increments in the prices of medicines and selected medical products were also observed during the month. Thus, the health index increased by 0.4 percent in AONCR and 0.1 percent in NCR. At the national level, the group’s index rose by 0.4 percent.

    • The series of price rollbacks in gasoline and diesel nationwide together with the general downward adjustments in air fares during the month pushed down the index for transport by 1.0 percent in AONCR and -0.5 percent in NCR. At the country level, the group’s index fell by 0.9 percent.

    • Lower charges for electricity and water rates in NCR were noted during the month. Prices of LPG and kerosene also went down in the area. These factors contributed to the 0.8 percent decline in the index for housing, water, electricity, gas and other fuels. In AONCR, price hikes in selected construction materials in many regions were offset by the nationwide price decreases in LPG and kerosene nationwide. Hence, the group’s index in the area exhibited a zero growth. The national index shrank by 0.2 percent.

    Notes:

    1. The first and second phase survey reports for January 2016 from Basilan and Sulu were not received as of February 4, 2016.
    1. CPIs and inflation rates by province and selected city are   also available upon request at Philippine Statistics Authority, Economic Sector Statistics Service, Price Statistics Division (Telephone Number: 376-19-59).


     

           (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)6.84 KB
    PDF icon Table 1A Monthly CPI for All Income Households in NCR by Commodity Group: (2006=100)7.14 KB
    PDF icon Table 1B Monthly CPI for All Income Households in Areas Outside NCR by Commodity Group: (2006=100)7.08 KB
    PDF icon Table 2 Monthly CPI for All Income Households in the Philippines by Commodity Group, Area/Region: (2006=100)19.74 KB
    PDF icon Table 3 Month-on-Month Changes of the CPI by Area in Percent: (2006=100)4.52 KB
    PDF icon Table 4 Year-on-Year Changes of the CPI by Area in Percent: (2006=100)4.51 KB
    PDF icon Table 5 Month-on-Month Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)10.05 KB
    PDF icon Table 6 Year-on-Year Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)10.86 KB
    PDF icon Table 7 Month-on-Month Regional Inflation Rates by Commodity Group: (2006=100)11.19 KB
    PDF icon Table 8 Year-on-Year Regional Inflation Rates by Commodity Group: (2006=100)11.23 KB
    PDF icon Table 9 Regional Month-on-Month Inflation Rates of Selected Food Items: (2006=100)22.57 KB
    PDF icon Table 10 Regional Year-on-Year Inflation Rates of Selected Food Items: (2006=100)33.74 KB
    PDF icon Table 11 Monthly CPI for Food and Food and Non-Alcoholic Beverages for All Income Households, by Area: (2006=100)5.39 KB
    PDF icon Table 12 Month-on-Month Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)5.15 KB
    PDF icon Table 13 Year-on-Year Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)5.02 KB
    PDF icon Table 14 Monthly Headline and Core CPI for All Income Households in the Philippines: (2006-100)4.37 KB
    PDF icon Table 15 Headline and Core Inflation Rates in the Philippines: (2006=100)4.49 KB
    PDF icon Table 16 CPI for All Income Household in the Philippines, by Selected Commodities and by Geographic Area: (2006=100)14.9 KB
    PDF icon Table 17 CPI for All Income Households in the Philippines by Major Commodity Group: (2006=100)47.56 KB
    PDF icon Table 18 CPI for All Income Households in the National Capital Region by Major Commodity Group: (2006=100)49.88 KB
    PDF icon Table 19 CPI for All Income Households in Areas Outside NCR by Major Commodity Group: (2006=100)49.35 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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