Month-on-Month Growth Rates

At the national level, the seasonally adjusted CPI for all items inched up 0.4 percent in December from 0.3 percent in November. Moreover, the indices for health and recreation and culture went up 0.2 percent from 0.1 percent and restaurant and miscellaneous goods and services, 0.2 percent from zero growth. On the other hand, the increment in alcoholic beverages and tobacco index decelerated to 0.5 percent from 0.8 percent and housing, water, electricity, gas and other fuels and education, 0.2 percent from their corresponding last month’s rates of 0.4 percent and 0.3 percent. The indices of clothing and footwear and furnishing, household equipment and routine maintenance of the house retained their respective previous month’s rates of 0.2 percent and 0.1 percent.

Contrary to the expected trend that the seasonal factor like higher demand for selected items and services during the holiday season would push up the indices, but the indices for selected items actually went down. These items included 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; education; and restaurant and miscellaneous goods and services. Overall, the index for all items was pushed up by this seasonal factor.

On a monthly basis, the transport index picked up 2.1 percent in December from 0.2 percent in November. In addition, the indices of non-food and education went up 0.4 percent from their corresponding last month’s rates of zero growth and 0.3 percent. The indices of alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house moved at their respective last month’s rates of 0.5 percent and 0.1 percent.

The indices for alcoholic beverages and tobacco; non-food; furnishing, household equipment and routine maintenance of the house; transport; and education were pushed down by the seasonal factor such as bigger demand of selected items and services during the Christmas season.

In AONCR, the seasonally adjusted CPI for alcoholic beverages and tobacco moved up at a slower pace of 0.4 percent in December from 0.8 percent in November and housing, water, electricity, gas and other fuels, 0.2 percent from 0.4 percent. The indices for health and recreation and culture, however, inched up 0.2 percent from 0.1 percent. Movements in the indices of clothing and footwear and furnishing, household equipment and routine maintenance of the house remained at 0.2 percent; education, 0.3 percent; and restaurant and miscellaneous goods and services, 0.1 percent.

The seasonal factor such as higher demand of selected commodities during the holiday season did not raise 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; education; and restaurant and miscellaneous goods and services relative to the expected trend. Meanwhile, the index for recreation and culture was not affected by this seasonal factor.