Month-on-Month Growth Rates
 

• Philippines

     The seasonally adjusted CPI for all items dropped by 0.3 percent in November from a 0.4 percent increase in October. Similarly, indices in November went down for housing, water, electricity, gas and other fuels by -0.2 percent, from 0.4 percent; and food and non-alcoholic beverages by -0.8 percent, from 0.2 percent. In addition, monthly increments slowed down in the indices of alcoholic beverages and tobacco at 0.8 percent from 1.0 percent; non-food, 0.2 percent from 0.4 percent; and health, 0.3 percent from 0.4 percent. On the other hand, monthly growth in restaurant and miscellaneous goods and services index was higher at    0.4 percent from 0.3 percent. Movements in the indices of clothing and footwear and furnishing, household equipment and routine maintenance of the house both remained at 0.3 percent and recreation and culture at 0.1 percent. The education index registered a zero growth during the month.

     Relative to the expected trend, the seasonal factor of bigger volume of production of selected goods in preparation for the coming Christmas season generally pushed down the indices of the following commodity groups:

• 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; and
• Education.

Meanwhile, this seasonal factor raised the indices of food and non-alcoholic beverages and recreation and culture. The indices for all items and restaurant and miscellaneous goods and services were not affected by this seasonal factor (see Table 1).

• National Capital Region (NCR)

     In NCR, a negative rate was still recorded in the seasonally adjusted CPI for food and non-alcoholic beverages at -0.4 percent in November from -0.7 percent in October. Moreover, slower monthly add-ons were noted in the indices of alcoholic beverages and tobacco at 0.5 percent from 0.9 percent and recreation and culture, 0.1 percent from 0.2 percent. On the contrary, the indices of furnishing, household equipment and routine maintenance of the house and restaurant and miscellaneous goods and services moved up at a faster pace of 0.5 percent from their corresponding previous month’s rates of 0.2 percent and 0.4 percent and education, 0.2 percent from 0.1 percent. The index of non-food moved at its previous month’s rate of 0.4 percent.

     The preparation for the forthcoming holiday season resulted to increase in production of selected goods during the period. This seasonal factor generally pushed down the indices of the following commodity groups:

• Alcoholic Beverages and Tobacco;
• Non-Food;
• Furnishing, Household Equipment and Routine Maintenance of the House;
• Education; and
• Restaurant and Miscellaneous Goods and Services.

This seasonal factor, however, pushed up the indices of food and non-alcoholic beverages and recreation and culture relative to the expected trend (see Table 2).
 

• Areas Outside National Capital Region (AONCR)

     In AONCR, the seasonally adjusted CPI for all items dropped by 0.2 percent in November, from 0.4 percent in October. Similarly, indices for food and non-alcoholic beverages went down by 0.8 percent from 0.3 percent and housing, water, electricity, gas and other fuels, -0.1 percent from 0.3 percent. Moreover, alcoholic beverages and tobacco index moved up at a slower pace of 0.8 percent in November from 0.9 percent in October; non-food, 0.2 percent from 0.3 percent; and furnishing, household equipment and routine maintenance of the house, 0.3 percent from 0.4 percent. Movements in the indices of clothing and footwear remained at 0.2 percent; health and restaurant and miscellaneous goods and services, 0.3 percent; and recreation and culture, 0.1 percent. A zero growth was recorded in the index of education during the month.

     The indices for the following commodity groups were pushed down by the seasonal factor during the month like the on-going higher production of selected goods in preparation for the yuletide season:

• 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; and
• Education.

This seasonal factor, however, pushed up the indices of food and non-alcoholic beverages and recreation and culture. The indices for all items and restaurant and miscellaneous goods and services were not affected by this seasonal factor (see Table 3).