Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items had a zero growth for three consecutive months as offsetting trends were noted among the commodity groups. In July, higher gains were recorded in the indices of alcoholic beverages and tobacco at 0.8 percent from 0.7 percent and clothing and footwear, 0.3 percent from 0.1 percent. On the other hand, the index for restaurant and miscellaneous goods and services went up at a slower pace of 0.1 percent from 0.2 percent. The indices of furnishing, household equipment and routine maintenance of the house; health; and education retained at their last month’s rate of 0.1 percent while housing, water, electricity, gas and other fuels index dropped by 0.2 percent from -0.4 percent. The index for recreation and culture had a zero growth from 0.1 percent.

The lean month of July pushed up the indices for all items; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; health; recreation and culture; education; and restaurant and miscellaneous goods and services. This seasonal factor however, generally had no effect on furnishing, household equipment and routine maintenance of the house index.

In NCR, the increase in the seasonally adjusted CPI for alcoholic beverages and tobacco decelerated to 0.3 percent in July from 0.5 percent in June. However, higher rates were noticed in the indices of non-food and furnishing, household equipment and routine maintenance of the house at 0.1 percent from zero growth. Education index registered a zero growth from 1.7 percent, while the transport index further decreased by 0.4 percent from -0.1 percent.

The lean month of July raised the indices of alcoholic beverages and tobacco; non-food; transport; and education. Meanwhile, this seasonal factor had no effect in the index of furnishing, household equipment and routine maintenance of the house in the area.

In AONCR, the seasonally adjusted CPI in housing, water, electricity, gas and other fuels inched up by 0.1 percent in July from -0.4 percent in June and furnishing, household equipment and routine maintenance of the house and health indices rose 0.2 percent from 0.1 percent. Movement in the indices of alcoholic beverages and tobacco remained at 0.6 percent; clothing and footwear, 0.1 percent; restaurant and miscellaneous goods and services, 0.2 percent; and recreation and culture, -0.1 percent. On the contrary, the education index posted a zero growth from -0.5 percent.

Relative to the expected trend, the lean month of July pushed up the indices of 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. This seasonal factor however, did not affect the indices of alcoholic beverages and tobacco and restaurant and miscellaneous goods and services.