The Philippines’ annual headline inflation slowed down to 3.3 percent in November 2017. In the previous month, inflation was pegged at 3.5 percent and in November 2016, 2.5 percent. A slower annual increase of 3.2 percent was noted in the heavily-weighted food and non-alcoholic beverages index. Lower annual mark-ups were also recorded in the indices of alcoholic beverages and tobacco at 6.1 percent; clothing and footwear, 1.8 percent; and education, 2.2 percent.
On the other hand, faster annual growths were observed in the indices of the following commodity groups:
- Housing, Water, Electricity, Gas and Other Fuels (4.2%);
- Transport (4.4%);
- Recreation and Culture (1.6%); and
- Restaurant and Miscellaneous Goods and Services (2.9%).
The rest of the commodity groups retained their previous month’s rates (see Tables 6 and 8).
Excluding selected food and energy items, core inflation however, moved up faster at 3.3 percent in November 2017. In the previous month, it was registered at 3.2 percent and in November 2016, 2.4 percent (see Table 15).
The country’s annual increase of the food alone index slowed down to 3.3 percent in November 2017. Its annual rate in the previous month was recorded at 3.8 percent and in November 2016, 3.5 percent (see Table 13).
The index of sugar, jam, honey, chocolate and confectionery further declined by 3.2 percent. Similarly, the annual rate of the vegetables index dropped by 1.3 percent. In addition, slower pace of increments were seen in the indices of rice at 1.0 percent; oils and fats, 5.7 percent; and fruits, 3.6 percent. The rest of the food groups had higher annual increases or retained their previous month’s rates (see Table 10).
|Year-on-Year Inflation Rates in the Philippines, All Items
January 2012 - November 2017
National Capital Region (NCR)
Inflation in NCR was posted at 4.9 percent in November 2017. It was the same rate recorded in the previous month while in November 2016, the rate stood at 2.0 percent. Mixed movements in the annual growths among the commodity groups were noticed during the month. Higher annual increments were seen in the indices of the following commodity groups:
- Clothing and Footwear (2.1%);
- Housing, Water, Electricity, Gas and Other Fuels (5.1%);
- Furnishing, Houshehold Equipment and Routine Maintenance of the House (2.0%);
- Transport (11.1%); and
- Restaurant and Miscellaneous Goods and Services (7.0%).
Slowdown were, however, noticed in the indices of food and non-alcoholic beverages at 3.9 percent and alcoholic beverages and tobacco, 7.9 percent. Those for the rest of the commodity groups remained at their previous month’s rates (see Tables 6 and 8).
Areas Outside NCR (AONCR)
Following the same trend at the national level, inflation in AONCR eased to 2.8 percent in November 2017. Inflation was 3.0 percent in the previous month and 2.6 percent during the same period a year ago. Slower annual growths were observed in the indices of the following commodity groups:
- Food an Non-Alcoholic Beverages (3.0%);
- Alcoholic Beverages and Tobacco (5.8%);
- Furnishing, Household Equipment and Routine Maintenance of the House (1.7%);
- Health (1.8%); and
- Education (2.4%).
Meanwhile, a higher annual mark-up was posted in the transport index at 2.5 percent. The rest of the commodity groups retained their previous month’s rates (see Tables 6 and 8).
Annual inflation slowed down in six regions with Cordillera Administrative Region and Cagayan Valley both having the lowest annual gain of 1.6 percent. On the other hand, the highest annual rate of 5.4 percent was still noted in Autonomous Region of Muslim Mindanao (see Table 8).
Consumer prices in the Philippines generally increased by 0.5 percent in November. The rate in the previous month was 0.3 percent. The uptrend was mainly due to the 0.5 percent mark-up on food and non-alcoholic beverages index. In addition, the indices for alcoholic beverages and tobacco moved up by 0.7 percent and housing, water, electricity, gas and other fuels, 0.5 percent. The transport index likewise picked up by 0.4 percent after it recorded a 0.3 percent decline in the previous month. On the other hand, slower increments were noted in the indices of recreation and culture at 0.1 percent and restaurant and miscellaneous goods and services, 0.3 percent. The rest of the commodity groups retained their previous month’s rates with the indices of communication and education registering a zero growth (see Table 7).
Prices of the heavily-weighted food items particularly corn, fish, butter, margarine, cooking oil and selected spices, condiments and seasonings went up in November 2017. Moreover, upward adjustments in the prices of gasoline, diesel, LPG and kerosene nationwide were also noted during the month. Many regions also registered higher charges in electricity rates and price gains in selected construction materials.
- Price movements of the commodities from the sample municipalities of Lanao del Sur were used to impute the prices for Marawi City for November 2017.
- CPIs and inflation rates by province and selected city are also available upon request at Philippine Statistics Authority, Economic Sector Statistics Service, Price Statistics Division (Telephone Number: 376-19-59).
FOR THE NATIONAL STATISTICIAN:
(Sgd) ROMEO S. RECIDE
Deputy National Statistician