Month-on-Month Growth Rates

The seasonally adjusted CPI for all items in April at the national level moved at its March rate of 0.2 percent. A higher monthly gain was recorded in housing, water, electricity, gas and other fuels index at 0.3 percent in April from -0.6 percent last month. On the other hand, a negative monthly rate was observed in the indices of alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house at -0.2 percent from -0.5 percent and 0.2 percent, respectively. Movements in the indices of health; education and restaurant and miscellaneous goods and services remained at their last month’s rates. The clothing and footwear and recreation and culture indices posted zero growths.

Relative to the expected trend, the indices for all items; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; and restaurant and miscellaneous goods and services were pushed up by the seasonal factors such as the production of selected goods for the graduation season and the higher demand for construction materials during the summer months. These seasonal factors however, did not raise the indices for recreation and culture and education while no effect was seen in the health index.

Compared to last month, the seasonally adjusted CPI in NCR for the following commodity groups advanced during the month: alcoholic beverages and tobacco, 0.1 percent in April from -0.1 percent in March; non-food, 0.5 percent from -0.1 percent; and transport, 0.3 percent from 0.2 percent. The indices for furnishing, household equipment and routine maintenance of the house and education still moved at their corresponding last month’s rates of 0.2 percent and 0.3 percent.

The production of some goods for the graduation season and the bigger demand for construction materials especially during the summer time pushed up the alcoholic beverages and tobacco and non-food indices relative to the expected trend. In contrast, these seasonal factors pushed down the indices for the other commodity groups with no effect registered in the furnishing, household equipment and routine maintenance of the house index.

In AONCR, the seasonally adjusted CPI for housing, water, electricity, gas and other fuels index grew by 0.1 percent in April from -0.6 percent in March and education index, 0.4 percent from 0.3 percent. Meanwhile, the monthly changes in the indices for alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house declined by 0.2 percent from -0.5 percent and 0.1 percent, respectively. Moreover, a slower monthly increment was posted in the indices of clothing and footwear and health at 0.1 percent from 0.2 percent while the restaurant and miscellaneous goods and services index moved at its last month’s rate of 0.1 percent. The recreation and culture index had a zero growth.

The indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; and restaurant and miscellaneous goods and services were pushed up by the production of selected goods for the graduation season and the higher demand for construction materials during the summer months. On the other hand, these seasonal factors pushed down the indices for recreation and culture and education. The health index was not affected by these seasonal factors.