Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items at the national level rose 0.3 percent in January 2015 following a 0.1 percent decrease in December 2014. The education index inched up 0.4 percent in January from 0.3 percent in December. On the other hand, the indices of alcoholic beverages and tobacco and housing, water, electricity, gas and other fuels index dropped by 0.5 percent. Moreover, slower monthly gains were seen in the indices of clothing and footwear and health at 0.1 percent. The indices of furnishing, household equipment and routine maintenance of the house and recreation and culture retained their respective previous month’s rates of 0.2 percent and 0.1 percent while the restaurant and miscellaneous goods and services had a zero growth.

Relative to the expected trend, the furnishing, household equipment and routine maintenance of the house index was pushed up by the seasonal factor like the practice of implementing business changes during the month. However, this seasonal factor pushed down the indices for all items and other commodity groups with no effect recorded in the housing, water, electricity, gas and other fuels index.

In NCR, the seasonally adjusted CPI for transport and education correspondingly went up by 1.9 percent and 0.4 percent in January from their last month’s rates of -1.3 percent and 0.3 percent, respectively. On the other hand, declines were observed in the indices of alcoholic beverages and tobacco (-0.5%) and furnishing, household equipment and routine maintenance of the house (-0.2%). The non-food index remained stable as it registered a zero growth.

The practice of implementing business changes at the beginning of the year did not push up the indices of alcoholic beverages and tobacco; non-food; transport; and education in the area. Meanwhile, the furnishing, household equipment and routine maintenance of the house index was not affected by this seasonal factor relative to the expected trend.

In AONCR, higher increments were posted in furnishing, household equipment and routine maintenance of the house index at 0.3 percent in January from 0.2 percent in December and education index, 0.4 percent from 0.3 percent. On the other hand, the alcoholic beverages and tobacco index went down by 0.2 percent and housing, water, electricity, gas and other fuels index, -0.4 percent. The clothing and footwear index retained its previous month’s rate 0.2 percent and health and recreation and culture indices, 0.1 percent.

Contrary to the expected trend, the practice of adjusting business rates such as the increase in rental at the beginning of the year pushed down 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; health; recreation and culture; education; and restaurant and miscellaneous goods and services.