Month-on-Month Growth Rates

• Philippines

The seasonally adjusted consumer price index (CPI) for all items at the national level moved up at a slower pace of 0.2 percent in August from 0.3 percent in July. Likewise, increases in the indices of non-food slowed down to 0.3 percent from 0.5 percent; clothing and footwear, 0.1 percent from 0.2 percent; and education and restaurant and miscellaneous goods and services, 0.2 percent from 0.5 percent. A higher monthly increment, however, was observed in recreation and culture index at 0.3 percent from 0.1 percent. Movements in the indices of housing, water, electricity, gas and other fuels remained at 0.5 percent; furnishing, household equipment and routine maintenance of the house, 0.1 percent; and health, 0.2 percent.

The seasonal factor such as the low demand of goods and services did not affect the indices for all items and housing, water, electricity, gas and other fuels. However, this seasonal factor raised the indices of the following commodity groups:

• Non-food;
• Clothing and Footwear;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Health;
• Recreation and Culture;
• Education; and
• Restaurant and Miscellaneous Goods and Services
  (see Table 1).

• National Capital Region (NCR)

In NCR, the monthly growth of seasonally adjusted CPI for all items eased to 0.2 percent in August from 0.9 percent in July. Slower gains were also noted in the indices of non-food and housing, water, electricity, gas and other fuels at 0.4 percent from their corresponding previous month’s rates of 1.6 percent and 1.4 percent; health, 0.3 percent from 0.5 percent; and restaurant and miscellaneous goods and services, 0.5 percent from 1.3 percent. On the other hand, monthly increments were higher in the indices of alcoholic beverages and tobacco at 0.5 percent from 0.1 percent; clothing and footwear, 0.2 percent from 0.1 percent; and recreation and culture, 0.7 percent from 0.3 percent. The index of food and non-alcoholic beverages also picked up by 0.1 percent after it had a 0.1 percent decline in the previous month. The same previous month’s rate was posted in the seasonally adjusted CPI for education at 0.2 percent while that for furnishing, household equipment and routine maintenance of the house registered a zero growth.

The lean month of August did not raise the index for food and non-alcoholic beverages. However, this seasonal factor pushed up the indices of the following commodity groups:

• All Items;
• Alcoholic Beverages and Tobacco;
• Non-food;
• 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.

• Areas Outside National Capital Region (AONCR)

The month-on-month growth rate of the seasonally adjusted CPI for all items and health in AONCR went up by 0.2 percent in August from 0.1 percent in July. Similarly, the indices of non-food and housing, water, electricity, gas and other fuels correspondingly climbed by 0.3 percent and 0.4 percent from 0.1 percent and transport, 0.7 percent from -0.3 percent. On the other hand, monthly gains in the indices of clothing and footwear and restaurant and miscellaneous goods and services both decelerated to 0.1 percent from 0.2 percent and education, 0.2 percent from 0.3 percent. Movement in furnishing, household equipment and routine maintenance of the house index remained at 0.1 percent.

Relative to the expected trend, the lean season during the month of August pushed down the indices of housing, water, electricity, gas and other fuels and transport. This seasonal factor, however, pushed up the education index while it did not affect the indices of following commodity groups:

• All Items;
• Non-food;
• Clothing and Footwear;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Health; and
• Restaurant and Miscellaneous Goods and Services
  (see Table 3).