Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items rose 0.5 percent in September from 0.3 percent in August. This was effected by a higher monthly increment in the alcoholic beverages and tobacco index at 1.1 percent from 0.9 percent; housing, water, electricity, gas and other fuels index, 0.8 percent from -0.1 percent; furnishing, household equipment and routine maintenance of the house index, 0.2 percent from 0.1 percent; and health index, 0.3 percent from 0.2 percent. The seasonally adjusted CPI for clothing and footwear, recreation and culture and restaurant and miscellaneous goods and services retained their last month’s rate of 0.2 percent and education index, 0.3 percent.

The lean season that was still felt in September pushed up the indices for all items, clothing and footwear, furnishing, household equipment and routine maintenance of the house, health, recreation and culture and education relative to the expected trend. On the other hand, this seasonal factor pushed down the indices of alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels. No effect was observed in the index for restaurant and miscellaneous goods and services during the period.

In NCR, the monthly growth in the seasonally adjusted CPI for alcoholic beverages and tobacco went up by 0.8 percent from 0.6 percent; non-food, 1.0 percent from -0.4 percent; and transport, 0.2 percent from 0.1 percent. Meanwhile, movement in education index was still at 0.3 percent while that for furnishing, household equipment and routine maintenance of the house index was zero.

The lean season raised the indices of furnishing, household equipment and routine maintenance of the house, transport and education. This seasonal factor however pushed down the corresponding indices of alcoholic beverages and tobacco and non-food.

Compared to a month ago, the seasonally adjusted CPI in AONCR for alcoholic beverages and tobacco gained 1.2 percent from 1.0 percent and housing, water, electricity, gas and other fuels, 0.5 percent from 0.1 percent. The health index eased to 0.2 percent from 0.3 percent; recreation and culture index, 0.1 percent from 0.2 percent; education index, 0.3 percent from 0.4 percent; and restaurant and miscellaneous goods and services index, 0.2 percent from 0.3 percent. Movement in the seasonally adjusted CPI for clothing and footwear and furnishing, household equipment and routine maintenance of the house remained at their previous month’s rate of 0.2 percent.

Weak consumer demand during the lean month pulled up the indices of the following commodity groups relative to the expected trend: clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; and education. While this seasonal factor pushed down the alcoholic beverages and tobacco index, it did not affect the seasonally adjusted CPI for restaurant and miscellaneous goods and services.