Month-on-Month Growth Rates

On a monthly basis, the seasonally adjusted CPI for all items and furnishing, household equipment and routine maintenance of the house went up by 0.3 percent in May from their respective last month’s rates of 0.2 percent and 0.1 percent. Moreover, higher increments were correspondingly observed in the indices of alcoholic beverages and tobacco and clothing and footwear at 0.6 percent and 0.5 percent from 0.3 and 0.2 percent, respectively. Meanwhile, increase in education index decelerated to 0.2 percent from 0.3 percent while the indices for health and recreation and culture retained their last month’s rate of 0.3 percent and restaurant and miscellaneous goods and services, 0.2 percent. The index for housing, water, electricity, gas and other fuels dropped by 0.1 percent in May from a growth of 0.2 percent in April.

Seasonal factors such as the traditional fiesta celebrations and bigger production of selected goods for the forthcoming opening of classes raised the indices for alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; and furnishing, household equipment and routine maintenance of the house relative to the expected trend. On the contrary, these seasonal factors pushed down the indices for all items; recreation and culture; and education. The indices for health and restaurant and miscellaneous goods and services were not affected by these seasonal factors.

In NCR, higher monthly gains were registered in the seasonally adjusted CPI for alcoholic beverages and tobacco at 0.9 percent in May from 0.4 percent in April and transport, 0.3 percent from -0.3 percent. Meanwhile, the movement in education index eased to 0.2 percent from 0.4 percent. The indices for non-food and furnishing, household equipment and routine maintenance of the house retained their last month’s rates of 0.1 percent and 0.2 percent, respectively.

Relative to the expected trend, the indices for alcoholic beverages and tobacco; non-food; and transport were pushed up by the seasonal factors during the month such as the traditional fiesta celebrations and higher production of selected goods for the coming opening of classes. On the other hand, these seasonal factors pushed down the indices for furnishing, household equipment and routine maintenance of the house and education in the area.

In AONCR, the monthly seasonally adjusted CPI for alcoholic beverages and tobacco posted a higher increase at 0.5 percent in May from 0.3 percent in April; furnishing, household equipment and routine maintenance of the house, 0.4 percent from 0.1 percent; and health, 0.3 percent from 0.2 percent. On the other hand, slower monthly gains were registered in the indices of recreation and culture and restaurant and miscellaneous goods and services at 0.1 percent from their corresponding previous month’s rates of 0.3 percent and 0.2 percent. Movements in the indices for clothing and footwear and education remained at 0.2 percent and 0.3 percent, respectively. That for housing, water, electricity, gas and other fuels index had a zero growth.

Upward adjustments in 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; and restaurant and miscellaneous goods and services were attributed by the seasonal factors like traditional festivities and bigger volume of production of some commodities for the opening of classes. These seasonal factors, however, pushed down the indices for recreation and culture and education during the month.