Month-on-Month Growth Rates

The month-on-month change of the seasonally adjusted CPI for all items went down by 0.1 percent in June from 0.1 percent growth in May. The index for housing, water, electricity, gas and other fuels dropped by 0.3 percent from 0.1 percent. Moreover, increases in the indices of health and education decelerated to 0.1 percent from their respective last month’s rates of 0.2 percent and 0.3 percent. Higher monthly gains were however, recorded in the indices of alcoholic beverages and tobacco at 0.7 percent from 0.4 percent; clothing and footwear and restaurant and miscellaneous goods and services, 0.2 percent from 0.1 percent and recreation and culture, 0.1 percent from zero growth. The furnishing, household equipment and routine maintenance of the house index had a zero growth from 0.2 percent.

Seasonal factors like tuition fee hikes and bigger demand for selected items during the opening of classes pushed up 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; recreation and culture; and education. On the other hand, these seasonal factors pushed down the health index while no effect was seen in the indices for all items and restaurant and miscellaneous goods and services.

Compared to last month, the seasonally adjusted CPI in NCR for alcoholic beverages and tobacco inched up 0.5 percent in June from 0.4 percent in May and education, 1.7 percent from -0.1 percent. The indices of non-food; furnishing, household equipment and routine maintenance of the house; and transport recorded a zero growth during the month.

Relative to the expected trend, increases in tuition fees and bigger demand for selected items during the opening of classes raised the indices of alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; transport; and education in the area.

In AONCR, a higher monthly growth of 0.2 percent was posted in the seasonally adjusted CPI for restaurant and miscellaneous goods and services in June from 0.1 percent in May. On the other hand, the index for furnishing, household equipment and routine maintenance of the house moved up at a slower pace of 0.1 percent from 0.2 percent. In addition, the indices of housing, water, electricity, gas and other fuels and recreation and culture correspondingly dropped by 0.5 percent and 0.1 percent from zero growth and education index, -0.5 percent from 0.3 percent. The index of alcoholic beverages and tobacco retained its last month’s rate of 0.5 percent and clothing and footwear and health indices, 0.1 percent.

The indices for 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; and education in AONCR were pushed up by the seasonal factors during the month such as the increments in the school tuition fees and higher demand for selected items during the opening of classes. However, these factors did not affect the index of restaurant and miscellaneous goods and services during the month.