MARCH 2019

YEAR-ON-YEAR

Philippines

Year-on-year inflation for the bottom 30% income households at the national level continued its downtrend as it exhibited a slower annual rate of 4.6 percent in March 2019. Inflation rates were higher at 5.0 percent in February 2019 and 5.8 percent in March 2018.

The main contributor to the downtrend of the country’s inflation was the heavily-weighted food, beverages and tobacco (FBT) index, which slowed down further to 4.9 percent during the month. On the other hand, higher annual increments were observed in the indices of clothing at 3.0 percent; fuel, light and water (FLW), 4.2 percent; and services, 3.7 percent. Meanwhile, the indices of housing and repairs (H&R) and miscellaneous retained their previous month’s annual increases of 4.3 percent and 2.4 percent, respectively (see Tables 3 and 4).

The Philippines’ inflation rate for food index, likewise, recorded a slower pace of 4.3 percent in March 2019. Its annual rates were higher at 5.0 percent in February 2019 and 5.7 percent in March 2018 (see Tables 5 and 7).

The annual change of corn index declined further by 3.3 percent in March 2019. Moreover, slower annual increases were registered in the indices of rice at 4.3 percent; cereal preparations, 3.8 percent; dairy products, 3.3 percent; fish, 8.0 percent; and meat, 3.1 percent.

Meanwhile, annual hikes were higher in the indices of eggs at 2.0 percent; fruits and vegetables, 5.0 percent; and miscellaneous foods, 4.9 percent (see Table 5).

National Capital Region (NCR)

Annual inflation in NCR also decelerated further to 2.3 percent in March 2019. In the previous month, inflation was pegged at 2.9 percent, and in March 2018, it was recorded at 6.4 percent. Except for the H&R and services indices, all the commodity groups registered slower annual hikes during the month. The annual increment of the H&R index was higher at 0.4 percent, while that of services index retained its previous month’s annual rate of 3.3 percent (see Tables 3 and 4).

The annual gain for food index in NCR continued to decelerate as it had a lower rate of 1.6 percent during the month. Inflation of the food index in February 2019 settled to 2.0 percent and in March 2018, 6.0 percent (see Tables 5 and 7).

Annual rates in the indices of rice dropped by 3.9 percent; corn, 9.5 percent; and fruits and vegetables, 0.6 percent. In addition, slower annual upticks were noted in the indices of dairy products at 7.1 percent; fish, 2.8 percent; and miscellaneous foods, 2.6 percent. On the other hand, annual mark-ups in the indices of eggs and meat were correspondingly higher at 5.7 percent and 4.0 percent, while cereal preparations index retained its previous month’s annual growth of 3.9 percent (see Table 5).

Areas Outside NCR (AONCR)

Following the same trend at the national level and of the NCR, inflation in AONCR for the bottom 30% income households, likewise, slowed down further to 4.6 percent in March 2019. In the previous month, its annual rate was higher at 5.0 percent and in March 2018, 5.8 percent.

The downtrend was mainly due to the slower annual hike observed in FBT index at 4.9 percent. On the contrary, higher annual increases were recorded in the indices of clothing at 3.0 percent; FLW, 4.2 percent; and services, 3.7 percent. The indices of H&R and miscellaneous retained their corresponding previous month’s annual rates of 4.3 percent and 2.4 percent (see Tables 3 and 4).

Relative to their annual increments in the previous month, 11 regions outside NCR exhibited slower annual rates during the month. The lowest annual growth of 2.1 percent was still noted in Region X (Northern Mindanao), while the highest annual rate of 11.2 percent remained in MIMAROPA Region (see Table 4).

The food index in AONCR posted a slower annual increase of 4.4 percent during the month. Its annual rate settled to 5.1 percent in the previous month and 5.7 percent in the same month of the previous year (see Tables 5 and 7).

Annual drop was still registered in corn index at 3.3 percent. Moreover, slower annual upticks were observed in the indices of rice at 4.4 percent; dairy products and meat, both at 3.1 percent; and fish, 8.1 percent. Higher annual upticks were, however, noticed in the indices of fruits and vegetables at 5.1 percent and miscellaneous foods at 4.9 percent. Inflation for the rest of the food groups remained at their previous month’s annual rates (see Table 5).

Note:

Monthly CPIs for the bottom 30% income households by province and selected cities are also available upon request at PSA, Price Statistics Division (Telephone Number: (02) 376-1959)

See more at the Consumer Price Index for Bottom 30% Income Households Main page.