Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items at the national level inched up 0.1 percent in March from a zero growth last month. Movements in the indices of alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels correspondingly declined by 0.5 percent and -0.8 percent from -0.9 percent and 0.1 percent, respectively. Moreover, slow-paced growths were posted in the indices of the following commodity groups during the month: clothing and footwear, 0.3 percent from 0.5 percent; furnishing, household equipment and routine maintenance of the house, 0.2 percent from 0.3 percent; and recreation and culture, 0.1 percent from 0.2 percent. The indices for health, education and restaurant and miscellaneous goods and services retained their last month’s rates.

The graduation season brought bigger demand for selected goods during the month. This seasonal factor raised the index of alcoholic beverages and tobacco relative to the expected trend. This seasonal factor however, pushed down the indices for all items and the other commodity groups with no effect registered in the housing, water, electricity, gas and other fuels index.

In NCR, a higher monthly gain was noted in the transport index at 0.2 percent in March from -0.1 percent in February. On the other hand, negative rates were observed in alcoholic beverages index at -0.1 percent from 0.7 percent and in non-food index, -0.2 percent from 0.1 percent. While a slowdown was noted in the growth of furnishing, household equipment and routine maintenance of the house at 0.2 percent from 1.0 percent, the education index still moved at its last month’s rate of 0.3 percent.

Relative to the expected trend, the indices for alcoholic beverages and tobacco; furnishing, household equipment and routine maintenance of the house and non-food were pushed up by the seasonal factor that is, the production of some goods for the graduation season. On the contrary, this seasonal factor pushed down the education index in the area while it did not affect the transport index.

In AONCR, the seasonally adjusted CPI for alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels correspondingly dropped by 0.6 percent and -0.7 percent from their respective last month’s rates of -1.2 percent and -0.2 percent. Likewise, slower monthly rates were noticed in the indices of clothing and footwear and health at 0.2 percent from 0.3 percent and recreation and culture and restaurant and miscellaneous goods and services indices, 0.1 percent from 0.2 percent. Those for furnishing, household equipment and routine maintenance of the house and education indices remained at their respective last month’s rates of 0.2 percent and 0.3 percent.

The production of selected goods in preparation for the graduation season pushed up the alcoholic beverages and tobacco index while the rest of the commodity groups were pushed down by this seasonal factor relative to the expected trend.