Month-on-Month Growth Rates
 

• Philippines

     At the national level, the seasonally adjusted CPI for all items further went down by 0.4 percent in December from its level in the previous month. In November, the seasonally adjusted CPI decreased by 0.3 percent. Declines were also recorded in the indices of food and non-alcoholic beverages at -0.4 percent from - 0.7 percent; non-food, -0.5 percent from 0.3 percent; and housing, water, electricity, gas and other fuels, -0.1 percent from -0.2 percent. Moreover, indices moved up at a slower pace for clothing and footwear; and furnishing, household equipment and routine maintenance of the house, both at 0.2 percent, from their corresponding previous month’s rates of 0.3 percent and 0.4 percent; and restaurant and miscellaneous goods and services, 0.1 percent from 0.5 percent. On the other hand, higher increments were posted in the indices of alcoholic beverages and tobacco at 1.0 percent from 0.8 percent and recreation and culture, 0.2 percent from 0.1 percent. From a zero growth in the previous month, the index of education also picked up by 0.1 percent during the month. The increase in the health index this month remained at 0.3 percent.

     The seasonal factor like higher demand for selected goods and services during the Christmas season pushed up the index for recreation and culture. Meanwhile, this seasonal factor pushed down the indices of the following commodity groups:

• All Items
• Alcoholic Beverages and Tobacco;
• Non-Food;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Health;
• Education; and
• Restaurant and Miscellaneous Goods and Services.

The index for food and non-alcoholic beverages was not affected by this seasonal factor (see Table 1).

• National Capital Region (NCR)

     In NCR, the seasonally adjusted CPI for food and non-alcoholic beverages continued to move downward at -0.5 percent in December as compared to its monthly rate of -0.4 percent in November. The indices also fell for non-food by 0.2 percent from a positive growth of 0.3 percent, and restaurant and miscellaneous goods and services, -0.1 percent from 0.7 percent. In addition, increases in the indices of alcoholic beverages and tobacco; and furnishing, household equipment and routine maintenance of the house both slowed down to 0.3 percent from 0.5 percent and 0.4 percent, respectively. The indices of recreation and culture, and education moved at their previous month’s rates of 0.2 percent.

     The seasonal factor like the bigger demand for selected goods and services during the Yuletide season pushed up the index for food and non-alcoholic beverages. However, this seasonal factor pushed down the indices of the following commodity groups:

• Alcoholic Beverages and Tobacco;
• Non-Food;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Recreation and Culture;
• Education; and
• Restaurant and Miscellaneous Goods and Services (see Table 2).

• Areas Outside National Capital Region (AONCR)

     In AONCR, the seasonally adjusted CPI for all items decreased by 0.4 percent in December. In November, it went down at a slower rate of 0.2 percent. Similarly, indices dropped for food and non-alcoholic beverages by 0.4 percent from a negative monthly growth rate of 0.7 percent in the previous month; and non-food, -0.5 percent from 0.3 percent. A 0.3 percent decline was still noted in housing, water, electricity, gas, and other fuels index. Moreover, the gains registered in the indices of furnishing, household equipment and routine maintenance of the house were slower at 0.2 percent from 0.3 percent and recreation and culture, 0.1 percent from 0.2 percent. On the other hand, the index of alcoholic beverages and tobacco moved up at a faster rate of 1.1 percent from 0.9 percent. Movements remained in the indices of clothing and footwear at 0.2 percent and health, and restaurant and miscellaneous goods and services, both at 0.3 percent. The education index also retained its zero growth during the month.

     The increase in demand for selected goods and services during the holiday season pushed up the index for recreation and culture relative to the expected trend. However, this seasonal factor pushed down the indices of the following commodity groups:

• All Items
• Food and Non-alcoholic Beverages;
• Alcoholic Beverages and Tobacco;
• Non-Food;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Health;
• Education; and
• Restaurant and Miscellaneous Goods and Services (see Table 3).

See more at the Seasonally Adjusted Consumer Price Index main page.