Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items at the national level went up at a slower rate of 0.1 in September from 0.4 percent in August. This can be attributed to the slowdowns in the monthly increment recorded in the corresponding indices of clothing and footwear and housing, water, electricity, gas and other fuels at 0.3 percent and 0.2 percent in September from their respective last month’s rates of 0.4 percent and 0.3 percent. Meanwhile, higher growths were observed in health and recreation and culture indices at 0.4 percent from 0.3 percent and 0.2 percent, respectively. The following indices retained their previous month’s rates: alcoholic beverages and tobacco (0.8%); education (0.3%); and furnishing, household equipment and routine maintenance of the house and restaurant and miscellaneous goods and services (0.2%).

The lean season that was still felt in September pushed up the indices of all items; clothing and footwear; recreation and culture; and education relative to the expected trend. This seasonal factor however, did not raise the indices of alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels. Moreover, no effects were registered in the indices of furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services.

In NCR, a higher monthly growth was posted in the seasonally adjusted CPI for furnishing, household equipment and routine maintenance of the house at 0.3 percent in September from 0.1 percent in August. On the other hand, a 0.2 percent decline was seen in the transport index while the indices of alcoholic beverages and tobacco, non-food and education moved at their last month’s rate.

The lean season in September pushed up the indices of transport and education relative to the expected trend. While this seasonal factor pushed down the alcoholic beverages and tobacco and non-food indices, it did not affect the furnishing, household equipment and routine maintenance of the house index.

Compared to last month, the seasonally adjusted CPI in AONCR for clothing and footwear and housing, water, electricity, gas and other fuels moved up at a faster pace of 0.3 percent in September from 0.2 percent; health, 0.4 percent from 0.3 percent; and recreation and culture, 0.2 percent from 0.1 percent. Meanwhile, slower monthly gains were noticed in furnishing, household equipment and routine maintenance of the house index, 0.2 percent from 0.3 percent; and education index, 0.3 percent from 0.4 percent. Movements in the corresponding indices of alcoholic beverages and tobacco and restaurant and miscellaneous goods and services remained at 0.8 percent and 0.2 percent.

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