Month-on-Month Growth Rates

The seasonally adjusted CPI for all items at the national level moved up at a faster rate of 0.3 percent in October from 0.2 percent in September. Likewise, higher gains were correspondingly recorded in the indices of clothing and footwear at 0.3 percent from 0.2 percent and recreation and culture, 0.2 percent from 0.1 percent. On the other hand, a slower monthly increment was seen in alcoholic beverages and tobacco index at 0.3 percent from 0.6 percent. The same previous month’s rates were registered in the rest of the commodity groups during the period.

Seasonal factor like the start of school semester pushed up the education index relative to the expected trend. Meanwhile, the seasonal factor such as the increase of production of selected goods in preparation for the holiday season did not raise the indices for all items; alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; health; and restaurant and miscellaneous goods and services. The indices for furnishing, household equipment and routine maintenance of the house and recreation and culture were not affected by these seasonal factors.

The month-on-month growth of the seasonally adjusted CPI for alcoholic beverages and tobacco and transport in NCR both went up 0.3 percent in October from their respective previous month’s rates of 0.2 percent and 0.1 percent. In addition, the index for furnishing, household equipment and routine maintenance of the house rose 0.2 percent from zero growth and education index, 0.4 percent from 0.3 percent. Meanwhile, the aggregate non-food index moved up at a slower pace of 0.2 percent from 0.3 percent.

Contrary to the expected trend, higher production of selected goods in preparation for the holiday season pushed down the indices for alcoholic beverages and tobacco; non-food; and transport. However, this seasonal factor pushed up the index for furnishing, household equipment and routine maintenance of the house. The seasonal factor such as the opening of classes for the second semester likewise raised the education index during the period.

In AONCR, higher growths were seen in the seasonally adjusted CPI for housing, water, electricity, gas and other fuels at 0.4 percent in October from 0.2 percent in September; recreation and culture, 0.2 percent from 0.1 percent; and education, 0.3 percent from 0.2 percent. On the other hand, increases in the indices of alcoholic beverages and tobacco decelerated to 0.4 percent from 0.5 percent and health, 0.1 percent from 0.2 percent. The indices for clothing and footwear and furnishing, household equipment and routine maintenance of the house both retained their last month’s rate of 0.2 percent and restaurant and miscellaneous goods and services, 0.1 percent.

The seasonal factor of bigger volume of production in preparation for the coming holiday season pulled down 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. The seasonal factor like the start of classes for the second semester however, pushed up the index for education. These seasonal factors have no effect in recreation and culture index.