Month-on-Month Growth Rates

The month-on month growth rate of the seasonally adjusted CPI for all items at the national level improved to 0.3 percent in August from 0.6 percent in July. Slower increments were observed in the indices of health and education at 0.3 percent in August from 0.4 percent in July. On the other hand, higher monthly gains were posted in alcoholic beverages and tobacco index at 0.8 percent from 0.7 percent; clothing and footwear index, 0.4 percent from 0.2 percent; housing, water, electricity, gas and other fuels index, 0.3 percent from 0.2 percent; and recreation and culture and restaurant and miscellaneous goods and services indices, 0.2 percent from zero growth and 0.1 percent, respectively. The furnishing, household equipment and routine maintenance of the house index retained its last month’s rate of 0.2 percent.

Relative to the expected trend, seasonal factor experienced during the lean month of August raised the indices for all items; clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; education; and restaurant and miscellaneous goods and services. This seasonal factor however, pushed down the alcoholic beverages and tobacco index while no effect was noted in the index for housing, water, electricity, gas and other fuels.

Compared to a month ago, the seasonally adjusted CPI in NCR for transport further went down to 0.3 percent in August from -0.2 percent in July. The same previous month’s rates were registered in the indices of alcoholic beverages and tobacco (0.6%); non-food (0.2%); and education (0.3%) while that for furnishing, household equipment and routine maintenance of the house index was zero.

The lean season in August moved up the indices of non-food; furnishing, household equipment and routine maintenance of the house; transport; and education relative to the expected trend. On the other hand, the alcoholic beverages and tobacco index was pulled down by this seasonal factor during the month.

From a zero growth, the seasonally adjusted CPI for housing, water, electricity, gas and other fuels and recreation and culture in AONCR correspondingly grew by 0.2 percent and 0.1 percent in August. Likewise, the furnishing, household equipment and routine maintenance of the house index inched up 0.3 percent from 0.2 percent. Meanwhile, a slower rate was posted in the education index at 0.4 percent from 0.5 percent. The indices of alcoholic beverages and tobacco; clothing and footwear; health; and restaurant and miscellaneous goods and services retained their last month’s growths.

The lean month raised the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; recreation and culture; education; and restaurant and miscellaneous goods and services relative to the expected trend. In contrast, this seasonal factor pushed down the indices of alcoholic beverages and tobacco while it did not affect the housing, water, electricity, gas and other fuels index.