Month-on-Month Growth Rates

On a monthly basis, the rate of change of the seasonally adjusted CPI for all items in the Philippines decreased by -0.1 percent in February from 0.2 percent in January. A slower monthly increase was also noted in the seasonally adjusted CPI for housing, water, electricity, gas and other fuels at 0.1 percent from 0.6 percent and education, 0.2 percent from 0.3 percent. On the contrary, the seasonally adjusted CPI for alcoholic beverages and tobacco went up to 0.3 percent from zero growth; health, 0.2 percent from -0.3 percent; and restaurants and miscellaneous goods and services, 0.2 percent from 0.1 percent. The monthly adjustment of the seasonally adjusted CPI for clothing and footwear remained at 0.2 percent and that for furnishing, household equipment and routine maintenance of the house was still zero. From 0.8 percent last month, the seasonally adjusted CPI for recreation and culture had a zero growth during the month.

Seasonal factors such as the production of selected goods in preparation for the graduation season pushed down the recreation and culture and education indices relative to the expected trend. However, this seasonal factor pushed up the indices for all items; alcoholic beverages and tobacco; health; and restaurants and miscellaneous goods and services while it did not affect the indices for clothing and footwear; housing, water, electricity, gas and other fuels; and furnishing, household equipment and routine maintenance of the house.

Compared to last month, the seasonally adjusted CPI in NCR for transport index declined by -0.3 percent in February from 0.2 percent in January. The aggregate CPI for non-food went up at a slower pace of 0.1 percent from 0.8 percent while those for alcoholic beverages and tobacco and education indices remained at their respective previous month’s rates of 0.2 percent and 0.3 percent. No movement was however seen in the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house as it posted a zero growth from 0.1 percent.

Seasonal factors pushed down the indices for furnishing, household equipment and routine maintenance of the house; transport; and education. Meanwhile, these seasonal factors did not affect the indices of alcoholic beverages and tobacco and non-food.

The monthly rate of change of seasonally adjusted CPI for alcoholic beverages and tobacco and clothing and footwear in AONCR correspondingly grew by 0.2 percent and 0.3 percent in February from zero growth in January. Moreover, the seasonally adjusted CPI for health and restaurants and miscellaneous goods and services rose by 0.1 from their respective January rates of -0.2 percent and -0.4 percent. On the other hand, the rate of increment of the seasonally adjusted CPI for housing, water, electricity, gas and other fuels and the recreation and culture decelerated to 0.1 percent from their corresponding previous month’s rates of 0.4 percent and 0.2 percent and education, 0.3 from 0.4 percent. The seasonally adjusted CPI for furnishing, household equipment and routine maintenance of house still recorded a zero growth.

The indices for housing, water, electricity, gas and other fuels; recreation and culture; and education in AONCR were pushed down by the seasonal factors during the month. However, these seasonal factors pushed up the indices for alcoholic beverages and tobacco; furnishing, household equipment and routine maintenance of the house; health; and restaurants and miscellaneous goods and services while that it did not affect the clothing and footwear index.

Page last updated: March 6, 2012