PREVIOUS RELEASE

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

Release Date: [field_releasedate]
Release Date: 04 November 2016

Year-on-Year Inflation Rates, All Items
  October 2016 September 2016 October 2015 Year-to-date
  Philippines        
     Headline 2.3 2.3 0.4 1.6
     Core 2.3 2.3 1.5 1.8
  NCR        
     Headline 2.1 2.0 0.2 1.0
  AONCR        
    Headline 2.4 2.4 0.5 1.8

  • The annual headline inflation at the national level remained at its last month’s rate of 2.3 percent in October 2016. It was recorded at 0.4 percent in October 2015. This can be attributed to the mixed movements of the annual growths among the commodity groups. Higher annual mark-ups were noticed in the indices of food and non-alcoholic beverages; clothing and footwear; furnishing, household equipment and routine maintenance of the house; and recreation and culture.  Those for the rest of the commodity groups were either slower or remained at their last month’s rate. (Table 8)

  • Excluding selected food and energy items, core inflation likewise moved at its previous month’s rate of 2.3 percent. It was registered at 1.5 percent in October 2015. (Table 15).

    • Inflation in NCR picked up 2.1 percent in October.  Last month, it was pegged at 2.0 percent and in October 2015, 0.2 percent. Six out of the 11 commodity divisions recorded higher annual increases. (Table 8).

    • In Areas Outside NCR (AONCR), inflation remained at 2.4 percent in October.  It was posted at 0.5 percent in October 2015. Higher annual increments were noted in the indices of food and non-alcoholic beverages and housing, water, electricity, gas and other fuels. Annual movements in other commodity groups were either slower or retained their last month's rates. (Table 8).

     

    Year-on-Year Inflation Rates in the Philippines, All Items
    January 2011 - October 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 0.9
    March 4.9 2.6 3.2 3.9 2.4 1.1
    April 4.7 3.0 2.6 4.1 2.2 1.1
    May 4.9 3.0 2.6 4.5 1.6 1.6
    June 5.2 2.9  2.7 4.4 1.2 1.9
    July 4.9 3.2 2.5 4.9 0.8 1.9
    August 4.6 3.8 2.1 4.9 0.6 1.8
    September 4.7 3.7 2.7 4.4 0.4 2.3
    October 5.2 3.2 2.9 4.3 0.4 2.3
    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)
      October 2016 September 2016
      Philippines 0.2 0.2
      NCR 0.3 0.4
      AONCR 0.2 0.2

     

    • Price hikes were recorded in food items particularly fish, vegetables and fruits. Upward price adjustments in gasoline and diesel and higher air and ship fares were also observed during the month. Moreover, clothing and some items for personal care and effects generally increased in NCR and in selected provinces. All these factors contributed to the 0.2 percent overall month-on-month inflation in October 2016.


      CONSUMER PRICE INDEX
      (2006=100)
      OCTOBER 2016

       By Region, Year-on-Year

    • Inflation in NCR picked up 2.1 percent in October.
    • AONCR retained its September inflation figure of 2.4 percent. Higher annual rates were noted in nine regions. Meanwhile, six regions had slower annual gains with Zamboanga Peninsula and Davao Region maintaining their respective last month's rates. The highest annual rate remained in Central Visayas at 4.0 percent while the lowest was in CALABARZON at 1.5 percent.

       By Commodity Group, Year-on-Year

    • On an annual basis, the increment in food and non-alcoholic beverages index in the Philippines was higher at 3.4 percent in October; clothing and footwear index, 2.8 percent; furnishing, household equipment and routine maintenance of the house index, 2.4 percent; and recreation and culture index, 1.8 percent.  The other commodity groups had slower annual add-ons or retained their last month's rate. (Table 8).

    • The annual change of the food alone index at the national level further accelerated to 3.5 percent in October.  Last month, it was pegged at 3.1 percent and in October 2015, 0.7 percent. (Table 13).

    • Higher annual mark-up was seen in rice index at 1.2 percent; corn index, 2.7 percent; milk, cheese and egg index, 2.2 percent; oils and fats index, 4.5 percent; fruits index, 8.8 percent; and vegetables index, 12.6 percent. Annual upticks in the other food groups were either slower or remained at their last month's rate with the food products not elsewhere classified index still recording a negative annual adjustment. (Table 10).

    • In NCR, higher annual growths were observed in all the commodity groups except in the indices of housing, water, electricity, gas, and other fuels; transport; communication; education; and restaurant and miscellaneous goods and services. (Table 8).

      • The food alone index in NCR posted an annual mark-up of 5.4 percent in October.  Last month, it was registered at 4.9 percent and in October 2015, 0.9 percent. (Table 13).

      • Double-digit annual growth in corn index further expanded to 48.6 percent; fruits index, 16.0 percent; and vegetables index, 15.6 percent. In addition, the annual rate for the food products not elsewhere classified index rose 1.0 percent compared to -1.7 percent last month. The rest of the food groups also exhibited faster annual hikes except for the indices of fish; milk, cheese and egg; and sugar, jam, honey, chocolate and confectionery. (Table 10).

    • In AONCR, annual upticks in the indices of food and non-alcoholic beverages were higher at 3.0 percent and housing, water, electricity, gas, and other fuels, 1.5 percent.  The rest of the commodity groups either had slower annual increments or retained their last month's rate. (Table 8).
      • The annual growth in the food alone index in AONCR further climbed to 3.0 percent in October 2016. It was pegged at 2.8 percent last month and 0.7 percent in October 2015.

      • A higher annual gain was still recorded in the rice index at 1.2 percent in October 2016. Three regions registered faster annual mark-ups. Likewise, the annual adjustment in Bicol Region rose 1.3 percent compared to its last month's rate at -1.9 percent. Central Visayas exhibited the highest annual growth of 5.4 percent while the lowest was seen in Ilocos Region at -1.3 percent.

      • The vegetables index continued to post a double-digit annual rate at   12.0 percent. Moreover, the annual growth of the fish index accelerated 4.0 percent; milk, cheese and egg index, 2.3 percent; oils and fats index, 4.1 percent; fruits index, 7.1 percent; and sugar, jam, honey, chocolate and confectionery index, 3.2 percent. While the index for food products not elsewhere classified still exhibiting negative annual rate at -1.5 percent, the other food groups either recorded slower pace of annual increases or retained their previous month's rate.  (Table 10).

       By Region, Month-on-Month

  • Prices of consumer items in NCR had a slower increment of 0.3 percent in October 2016. It was posted at 0.4 percent in September 2016. This can be attributed to a 0.2 percent decline in the index for housing, water, electricity, gas, and other fuels. Moreover, the increase in health index eased to 0.1 percent. A higher add-on of 0.2 percent was, however, noted in the index of furnishing, household equipment and routine maintenance of the house. From a zero growth last month, the indices for alcoholic beverages and tobacco and clothing and footwear rose 0.1 percent and 0.2 percent, respectively. The other commodity groups either retained its last month's rate or had a zero growth. (Table 7).

  • In AONCR, consumer prices moved at its last month's rate of 0.2 percent. A higher growth was seen in clothing and footwear index at 0.2 percent. Similarly, the indices for housing, water, electricity, gas, and other fuels and recreation and culture correspondingly went up 0.2 percent and 0.1 percent after they posted a zero growth last month. The rest of the commodity groups either had slower increases or retained their previous month's rates except for the indices of communication and education which still recorded zero growth.

  • Higher rates were observed in seven regions with Bicol Region having the highest month-on-month growth of 0.5 percent. On the other hand, the lowest rate of -0.3 percent was noticed in SOCCSKSARGEN. (Table 7).

  • Prices of consumer items in Luzon and Visayas areas generally moved faster compared to those in Mindanao areas.

  •    By Commodity Group, Month-on-Month

    • Consumer prices at the national level generally increased by 0.2 percent in October.  A higher uptick of 0.2 percent was registered in the index for clothing and footwear. In addition, the index for housing, water, electricity, gas, and other fuels inched up 0.1 percent from a zero growth last month. On the other hand, the index for alcoholic beverages and tobacco moved up at a slower pace of 0.1 percent. The rest of the commodity groups either retained their previous month's rates or had zero growths. (Table 7).

      • Lesser volume of deliveries of vegetables in the markets was noted after typhoons hit producing provinces in Central and Northern parts of Luzon. This supply effected higher prices of vegetables particularly lowland-grown varieties during the month. Thus, the group's index in NCR picked up 5.5 percent and in AONCR, 1.0 percent. At the national level, the group's index accelerated 1.7 percent.

      • The unfavorable weather conditions which limited fishing trips of fisherfolks during the month resulted to lesser supplies of selected fish species in the markets. Thus, the fish index in NCR escalated 1.3 percent and in AONCR, 0.6 percent. For the Philippines, the group's index advanced 0.7 percent.

      • Upward adjustments in the prices of off-season fruits particularly avocado, mango and watermelon raised the group's index in NCR by 1.1 percent and AONCR, 2.0 percent. At the country level, the group's index accelerated 1.8 percent.

      • The increment in the rice index in AONCR slowed down to 0.1 percent. Thirteen regions posted either lower or negative monthly rates due to the on-going harvest season of palay. In NCR, the index for rice rose 0.7 percent. For the Philippines, the group's index inched up 0.1 percent.

    • The series of price increases in gasoline and diesel during the month primarily effected the 0.3 percent growth in the transport index in NCR and   0.2 percent in AONCR. Higher air and ship fares were also noticed in selected provinces. At the national level, the group's index picked up 0.2 percent.

    • The index for restaurant and miscellaneous goods and services in AONCR went up 0.1 percent. This was due to add-ons in the prices of selected items for personal care and effects in many provinces during the month.  Meals eaten outside the home were also priced higher in some provinces. In NCR, the group's index registered a zero growth. At the country level, the group's index moved up 0.1 percent.

    • Higher prices of selected clothing items raised the clothing and footwear index by 0.2 percent in NCR and AONCR. For the Philippines, the group's index gained 0.2 percent.

    Notes:

    1. The second phase survey report for October 2016 from Basilan was not received as of November 4, 2016.
    2.  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).

     

     

     

     

    FOR THE NATIONAL STATISTICIAN:

     

     

           (Sgd) ROMEO S. RECIDE
    (Deputy National Statistician, SSO)
                 Officer-in-Charge

     


     


    AttachmentSize
    PDF icon Table 1 Monthly CPI for All Income Households in the Philippines by Commodity Group: (2006=100)6.67 KB
    PDF icon Table 1A Monthly CPI for All Income Households in NCR by Commodity Group: (2006=100)7.34 KB
    PDF icon Table 1B Monthly CPI for All Income Households in Areas Outside NCR by Commodity Group: (2006=100)7.35 KB
    PDF icon Table 2 Monthly CPI for All Income Households in the Philippines by Commodity Group, Area/Region: (2006=100)19.5 KB
    PDF icon Table 3 Month-on-Month Changes of the CPI by Area in Percent: (2006=100)4.7 KB
    PDF icon Table 4 Year-on-Year Changes of the CPI by Area in Percent: (2006=100)4.76 KB
    PDF icon Table 5 Month-on-Month Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)9.96 KB
    PDF icon Table 6 Year-on-Year Changes of the CPI in Percent, by Area, by Commodity Group: (2006=100)11.78 KB
    PDF icon Table 7 Month-on-Month Regional Inflation Rates by Commodity Group: (2006=100)11.5 KB
    PDF icon Table 8 Year-on-Year Regional Inflation Rates by Commodity Group: (2006=100)11.71 KB
    PDF icon Table 9 Regional Month-on-Month Inflation Rates of Selected Food Items: (2006=100)23.23 KB
    PDF icon Table 10 Regional Year-on-Year Inflation Rates of Selected Food Items: (2006=100)37.75 KB
    PDF icon Table 11 Monthly CPI for Food and Food and Non-Alcoholic Beverages for All Income Households, by Area: (2006=100)5.38 KB
    PDF icon Table 12 Month-on-Month Changes of the CPI on Food and Food and Non-Alcoholic Beverages, in Percent: (2006=100)4.81 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)4.6 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)15.17 KB
    PDF icon Table 17 CPI for All Income Households in the Philippines by Major Commodity Group: (2006=100)48.15 KB
    PDF icon Table 18 CPI for All Income Households in the National Capital Region by Major Commodity Group: (2006=100)50.49 KB
    PDF icon Table 19 CPI for All Income Households in Areas Outside NCR by Major Commodity Group: (2006=100)49.62 KB
    PDF icon The 2006-based Consumer Price Index154.44 KB
    PDF icon Primer on Consumer Price Index125.3 KB
    PDF icon Primer on Core Inflation119.51 KB

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