PREVIOUS RELEASE

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

Release Date: [field_releasedate]
Release Date: 05 August 2014

 


Year-on-Year Inflation Rates, All Items
  July 2014 June 2014 Jul 2013 Year-to-date
  Philippines        
     Headline 4.9 4.4 2.5 4.3
     Core 3.0 2.8 2.3 2.9
  NCR        
     Headline 3.9 3.6 1.0 3.3
  AONCR        
    Headline 5.1   4.7 2.9 4.7

 

  • Year-on-year headline inflation at the national level advanced to 4.9 percent in July, the highest since November 2011. It was 4.4 percent last month and 2.5 percent in July 2013. This was mainly due to the jump in the growth of the heavily-weighted food and non-alcoholic beverages index. Contributing also to the uptrend were the faster annual hikes in the indices of housing, water, electricity, gas and other fuels; health; transport; recreation and culture; and education.

  • Excluding selected food and energy items, core inflation moved upwards to 3.0 percent in July. It was pegged at 2.8 percent in June 2014 and 2.3 percent during the same period a year ago.

  • Similarly, annual inflation in the National Capital Region (NCR) climbed to 3.9 percent in July. It was registered at 3.6 percent in June and 1.0 percent in July 2013.  Higher annual gains were observed in seven commodity divisions namely: food and non-alcoholic beverages; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and restaurant and miscellaneous goods and services.

    • Annual inflation in Areas Outside NCR (AONCR) accelerated 5.1 percent in July. Inflation a month ago was 4.7 percent and in July 2013, 2.9 percent. Faster annual growths were noted in the indices of food and non-alcoholic beverages; furnishing, household equipment and routine maintenance of the house; health; transport; and education.

  •  

    Year-on-Year Inflation Rates in the Philippines, All Items
    January 2009 - July 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  
    September

    2.3

    3.8 4.7 3.7 2.7  
    October

    2.9

    3.3 5.2 3.2 2.9  
    November

    3.5

     3.7 4.7 2.8 3.3  
    December

    4.4

    3.6 4.2 3.0 4.1  
    Average

    4.2

    3.8 4.6 3.2 3.0  

     

    Month-on-Month Inflation Rates, All Items
    (2006=100)
      Jul 2014 Jun 2014
      Philippines 0.6 0.4
      NCR 0.3 0.2
      AONCR 0.6 0.5

     

    • The country’s consumer prices went up 0.6 percent in July. This was primarily brought about by the upward price adjustments in the heavily-weighted food items such as rice, fruits, vegetables, meat, fish, milk and eggs. Price mark-ups in gasoline nationwide and higher prices in medicines and selected items for personal care in many regions were also recorded during the month.


      CONSUMER PRICE INDEX
      (2006=100)
      JULY 2014

       By Region, Year-on-Year

    • Annual inflation in NCR rose 3.9 percent in July.
    • Likewise, annual inflation in AONCR leaped to 5.1 percent in July as 11 regions had higher annual gains. The highest annual rate of 8.0 percent remained in Eastern Visayas while the lowest was posted in Davao at 4.1 percent.
       

       By Commodity Group, Year-on-Year

    • The year-on-year growth of the heavily-weighted food and non-alcoholic beverages index in the Philippines picked up 8.2 percent in July; housing, water, electricity, gas and other fuels index, 2.4 percent; health index, 3.2 percent; transport index, 1.5 percent; recreation and culture index, 1.3 percent; and education index, 5.1 percent. The rest of the commodity groups either had slower annual gains or retained their last month’s rate with the communication index recording a zero growth.

    • The food alone index at the national level grew by 8.7 percent in July. Last month, its annual rate was 7.8 percent and during the same month a year ago, 2.3 percent.

    • Faster annual increments were observed in all the food groups except in food products not elsewhere classified index.

    • In NCR, the food and non-alcoholic beverages index gained by 7.7 percent; clothing and footwear index, 3.9 percent; housing, water, electricity, gas and other fuels index, 1.5 percent; furnishing, household equipment and routine maintenance of the house index, 3.9 percent; health index, 5.1 percent; recreation and culture index, 2.4 percent; and restaurant and miscellaneous goods and services index, 1.5 percent. Annual hikes in the rest of the commodity groups either decelerated or remained at their last month’s rates.

      • Uptick in the food alone index in NCR was recorded at 8.2 percent in July. Its annual rate last month was pegged at 7.8 percent and in July 2013, 1.6 percent.

      • Except for rice and food products not elsewhere classified indices, all the food groups had higher annual increases. Slower double-digit annual rates were correspondingly noted in rice and food products not elsewhere classified indices.

    • In AONCR, the food and non-alcoholic beverage index increased by 8.4 percent; furnishing, household equipment and routine maintenance of the house index, 2.2 percent; health index, 2.8 percent; transport index, 1.5 percent; and education index, 4.9 percent. Annual mark-ups in the other commodity groups either decelerated or remained at their last month’s rate except for a decrease of 0.1 percent in the communication index.
      • The annual growth of the food alone index in AONCR went up 8.8 percent in July. Its annual rate last month was 7.8 percent and 2.4 percent in July 2013.

      • The rice index continued to post a double-digit annual rate of 14.1 percent in July. Except in Bicol Region, Central Visayas and Northern Mindanao, all the regions had higher annual gains. The highest annual growth of 18.2 percent was seen in Ilocos while the lowest rate of 6.4 percent was noticed in ARMM.

      • All the other food groups had higher annual increases.

       By Region, Month-on-Month

  • On a monthly basis, prices in NCR moved by 0.3 percent in July. Growth in prices was pegged at 0.2 percent in June. Higher monthly rates were seen in alcoholic beverages and tobacco and restaurant and miscellaneous goods and services indices at 0.2 percent; housing, water, electricity, gas and other fuels, 0.1 percent; and health index, 1.9 percent. The rest of the commodity groups either slowed down or retained their last month’s rate except the education index which had a zero growth.

  • Consumer prices in AONCR climbed 0.6 percent in July.  Last month, it was recorded at 0.5 percent. The monthly change in the heavily-weighted food and non-alcoholic beverage index was registered at 1.3 percent; health index, 0.3 percent and in transport index, 0.6 percent. Those for the other commodity groups were slower or remained at their last month’s rate with the decline of 0.2 percent in the index of housing, water, electricity, gas and other fuels.

  • Nine regions had faster month-on-month upticks. The highest monthly rate of 1.1 percent was posted in SOCCSKSARGEN.

  • Among the three big areas of the country, price increments were generally higher in Visayas compared to those in Luzon and Mindanao areas.

  •    By Commodity Group, Month-on-Month

    • The country’s consumer prices went up 0.6 percent during the month. The food and non-alcoholic beverages index grew by 1.2 percent; alcoholic beverages and tobacco and restaurant and miscellaneous goods and services indices, 0.2 percent; health index, 0.7 percent; and transport index, 0.5 percent. On the other hand, monthly rates decelerated in the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; and education. Those for the rest of the commodity groups remained at their last month’s rates with the index of housing, water, electricity, gas and other fuels decreasing by 0.2 percent.

      • The lean month of July saw further increases in the prices of rice. Thus, the rice index in AONCR and in the Philippines gained 1.8 percent. Ten regions exhibited higher monthly price mark-ups with SOCCSKSARGEN recording the highest rate of 5.3 percent. This same trend was also seen in NCR as its rice index picked up 1.6 percent.

      • Prices of vegetables like carrots, cabbage, onions and bitter gourd increased in several markets, due to limited supply from the provinces hit by typhoon “Glenda”. In addition, prices of garlic continued to go up in most of the regions. Thus, the vegetables index in AONCR and at the national level correspondingly accelerated to 4.3 percent and 3.6 percent. On the contrary, the vegetable index in NCR dropped by 0.1 percent as prices of pechay, chayote and squash generally decreased during the month. In addition, price reductions in garlic in NCR contributed to the downtrend as supplies began to flow in the markets in the latter part of the month.

      • The meat index in NCR went up 0.9 percent and in AONCR, 0.6 percent due to the increasing prices in chicken, pork and canned meat. Supplies of chicken in the markets did not meet bigger consumer demands during the month. The after effect of high operational cost in the production of pork particularly in the summer months also pushed its prices in the markets. These factors raised the meat index at the national level by 0.7 percent.

      • The price of milkfish had dropped by more than half its normal price days after typhoon “Glenda” struck and damaged fish cages in the Laguna de Bay. Several fish cages and fish pens overflowed or were damaged by the wind allowing tons of milkfish to escape into the open water. In addition, supplies of selected sea foods such as crabs and shrimps in the markets met consumer needs in NCR thereby pushing down their prices during the period. All these factors contributed to the 0.3 percent decline in the fish index in the area. On the other hand, the difficulty in catching fish species due to bad weather conditions experienced in many regions brought about by typhoons limited the volume of fish supply in the markets. Thus, the group’s index in AONCR rose by 0.7 percent and in the Philippines, 0.6 percent.

      • The fruit index in the three areas jumped by 2.0 percent.  Low supplies of out of season mangoes in the markets in many regions resulted to its higher prices. Price mark-ups in banana, pineapple and papaya were also observed in selected regions.

      • Prices of chicken eggs remained higher during the month as low production limited its supplies in the markets. Moreover, prices of milk continued to climb in many regions.  Hence, the group’s index in the Philippines moved upward by 0.7 percent; NCR, 1.0 percent; and in AONCR, 0.6 percent.

    • The transport index in the Philippines increased by 0.5 percent; NCR, 0.2 percent; and in AONCR, 0.6 percent. This can be attributed to the general price increments in gasoline nationwide and jeepney fare hikes in selected provinces.

    • The index for health in the Philippines gained 0.7 percent; NCR, 1.9 percent; and AONCR, 0.3 percent. Higher charges in medical and hospital services and upticks in the prices of medicines were noticed in selected regions.

    • A 0.1 percent monthly growth in restaurant and miscellaneous goods and services index in AONCR was brought about by upward price adjustments in some items for personal care and meals eaten the outside the home in some regions. In NCR, it inched up 0.2 percent due to higher charges in selected personal services and price add-ons in selected items for personal care. At the national level, the group’s index had an uptick of 0.2 percent.

    Notes:

    1. The second phase survey reports for Basilan and Isabela City were not received as of July 31, 2014.

    2. 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)7.01 KB
    PDF icon Table 1A Monthly CPI for All Income Households in NCR by Commodity Group: (2006=100)7 KB
    PDF icon Table 1B Monthly CPI for All Income Households in Areas Outside NCR by Commodity Group: (2006=100)7.07 KB
    PDF icon Table 2 Monthly CPI for All Income Households in the Philippines by Commodity Group, Area/Region: (2006=100)17.33 KB
    PDF icon Table 3 Month-on-Month Changes of the CPI by Area in Percent: (2006=100)4.62 KB
    PDF icon Table 4 Year-on-Year Changes of the CPI by Area in Percent: (2006=100)4.66 KB
    PDF icon Table 5 Month-on-Month Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)9.62 KB
    PDF icon Table 6 Year-on-Year Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)11.57 KB
    PDF icon Table 7 Month-on-Month Regional Inflation Rates by Commodity Group: (2006=100)10.01 KB
    PDF icon Table 8 Year-on-Year Regional Inflation Rates by Commodity Group: (2006=100)10.25 KB
    PDF icon Table 9 Regional Month-on-Month Inflation Rates of Selected Food Items: (2006=100)19.88 KB
    PDF icon Table 10 Regional Year-on-Year Inflation Rates of Selected Food Items: (2006=100)31.33 KB
    PDF icon Table 11 Monthly CPI for Food and Food and Non-Alcoholic Beverages for All Income Households, by Area: (2006=100)4.65 KB
    PDF icon Table 12 Month-on-Month Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)4.57 KB
    PDF icon Table 13 Year-on-Year Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)4.87 KB
    PDF icon Table 14 Monthly Headline and Core CPI for All Income Households in the Philippines: (2006-100)4.54 KB
    PDF icon Table 15 Headline and Core Inflation Rates in the Philippines: (2006=100)4.51 KB
    PDF icon Table 16 CPI for All Income Household in the Philippines, by Selected Commodities and by Geographic Area: (2006=100)13.19 KB
    PDF icon Table 17 CPI for All Income Households in the Philippines by Major Commodity Group: (2006=100)44.89 KB
    PDF icon Table 18 CPI for All Income Households in the National Capital Region by Major Commodity Group: (2006=100)46.3 KB
    PDF icon Table 19 CPI for All Income Households in Areas Outside NCR by Major Commodity Group: (2006=100)44.99 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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