Month-on-Month Growth Rates

The monthly increment of the seasonally adjusted CPI for all items decelerated to 0.3 percent in September from 0.7 percent in August. This was due to the -0.2 percent decline in the seasonally adjusted CPI for housing, water, electricity, gas and other fuels. Moreover, slower monthly gains were noted in the indices of furnishing, household equipment and routine maintenance of the house and education at 0.3 percent from their corresponding last month’s rates of 0.5 percent and 0.4 percent and restaurant and miscellaneous goods and services index, 0.1 percent from 0.2 percent. The same previous month’s rates were recorded in the seasonally adjusted CPI for alcoholic beverages and tobacco at 0.3 percent; clothing and footwear and health, 0.2 percent; and recreation and culture, 0.1 percent.

The low demand of goods and services in September pushed down the indices for all items; alcoholic beverages and tobacco; and housing, water, electricity, gas and other fuels relative to the expected trend. On the contrary, this seasonal factor pushed up clothing and footwear index; furnishing, household equipment and routine maintenance of the house; recreation and culture; and education while it did not affect the indices for health and restaurant and miscellaneous goods and services.

The seasonally adjusted CPI in NCR for non-food dropped by -0.1 percent in September from 0.5 percent in August. In addition, the monthly upticks in the seasonally adjusted CPI for alcoholic beverages and tobacco eased to 0.3 percent from 0.4 percent; furnishing, household equipment and routine maintenance of the house, 0.6 percent from 1.6 percent; and education, 0.3 percent from 0.4 percent. The adjustment in the transport index was however higher at 1.2 percent from 0.8 percent.

The low demand of goods and services in September pulled up the indices for alcoholic beverages and tobacco; furnishing, household equipment and routine maintenance of the house; and education in NCR relative to the expected trend. Meanwhile, this seasonal factor pulled down the indices for non-food and transport.

On a monthly basis, the increase in the seasonally adjusted CPI for alcoholic beverages and tobacco in AONCR improved to 0.3 percent in September from 0.4 percent in August; clothing and footwear, 0.2 percent from 0.3 percent; and recreation and culture and restaurant and miscellaneous goods and services, 0.1 percent from 0.2 percent. The movement in the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house and health remained at 0.2 percent and education index, 0.4 percent. That for housing, water, electricity, gas and other fuels index was zero percent from 0.6 percent.

Relative to the expected trend, the seasonal factor during the month pushed down the indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; and restaurant and miscellaneous goods and services. The indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; recreation and culture; and education were however pushed up by the seasonal factor during the month while it did not affect the health index.