Summary Inflation Report Consumer Price Index for the Bottom 30% Income Households (2012=100) : March 2020

24 April 2020

MARCH 2020

(Final Results)

 

 

Philippines

Bottom 30%

The year-on-year inflation for the bottom 30% income households at the national level accelerated to 2.4 percent in March 2020. Inflation of consumer items for this income group in February 2020 was observed at 2.1 percent, and in March 2019, 3.4 percent.

The uptrend was mainly brought about by the higher annual increase in the heavily-weighted food and non-alcoholic beverages index at 1.1 percent. In addition, higher annual increments were posted in the indices of health; and recreation and culture, both at 3.4 percent.

Meanwhile, slower annual growth rates were observed in the indices of other commodity groups, except for education, and restaurant and miscellaneous goods and services indices whose annual mark-ups remained at 5.1 percent and 2.6 percent, respectively. (Tables 3 and 4)

The country’s food inflation rose by 1.0 percent in March 2020. Its annual rate was registered at 0.3 percent in February 2020, while it was posted at 2.9 percent in    March 2019. (Table 7)

Annual growth rates moved up faster in the following food groups during the month:

  • Fish, 10.4 percent;
  • Milk, cheese and egg, 3.8 percent;
  • Oils and fats, 1.3 percent;
  • Fruits, 8.6 percent; and
  • Food products, not elsewhere classified, 9.3 percent.

On the other hand, annual increases recorded in the indices of other cereals, flour, cereal preparation, bread, pasta and other bakery products; and meat decelerated to 2.4 percent and 1.8 percent, respectively. The index of vegetables retained its previous month’s annual rate of 5.3 percent while the rest of the food groups indices registered annual drops during the month. (Table 5)

 

 

 

Year-on-Year Inflation Rates of the CPI for the Bottom 30%
Income Households for All Items in the Philippines
January 2016 – March 2020
(2012=100)

Month

Year

2016 2017 2018 2019 2020
January 0.7r 2.0 3.6 5.2 2.3
February 0.8r 2.2r 4.4 4.3 2.1r
March 0.8 2.2r 5.0 3.4r 2.4
April 0.6 2.4r 5.2 3.1r  
May 1.0 2.1r 5.4 3.2r  
June 1.2 2.1 5.4r 3.1r  
July 1.1 1.9r 6.2r 2.5r  
August 1.0r 2.3 6.9 1.7  
September 1.2 2.5r 8.0 0.2r  
October 1.5 2.7r 8.1 -0.1r  
November 1.5 2.6r 7.3 0.7  
December 1.8 2.7r 6.3r 1.9  
           
Average 1.1 2.3r 6.0 2.4  

 

 

National Capital Region (NCR)

On an annual basis, prices for this particular group of consumers in NCR moved at the same rate as previous month at 1.9 percent in March 2020. Inflation in March 2019  was observed at 2.9 percent in March 2019.

The indices of the following commodity groups exhibited higher annual mark-ups during the month:

  • Food and non-alcoholic beverages, 3.0 percent;
  • Alcoholic beverages and tobacco, 19.6 percent;
  • Clothing and footwear, 1.3 percent; and
  • Recreation and culture, 1.0 percent.

Slower annual growth rates were, however, posted in the the indices of furnishing, household equipment and routine maintenance of the house at 2.1 percent; and health, 2.2 percent. Moreover, annual decreases were noticed in the indices of housing, water, electricity, gas, and other fuels at 1.2 percent; transport, 1.0 percent; and communication, 0.3 percent. The index for education retained its previous month’s annual rate of 5.9 percent, while restaurant and miscellaneous goods and services index registered a zero percent annual rate. (Tables 3 and 4)
 

Areas Outside NCR (AONCR)

Following the same trend as that of the national level, inflation for the bottom 30% income households in AONCR picked up by 2.4 percent in March 2020. In the previous month, inflation in the area was recorded at 2.1 percent, and in the same month in 2019, 3.4 percent.

Contributing to the higher annual rate in March 2020 were the faster annual increases noted in the indices of food and non-alcoholic beverages at 1.0 percent; health, 3.4 percent; and recreation and culture, 3.5 percent.

On the other hand, lower annual hikes were noted in the indices of the following commodity groups during the period:

  • Alcoholic beverages and tobacco, 21.0 percent;
  • Clothing and footwear; and housing, water, electricity, gas, and other fuels, both at 2.8 percent;
  • Furnishing, household equipment and routine maintenance of the house, 1.6 percent;
  • Transport, 1.0 percent; and
  • Communication, 0.3 percent.

The rest of the commodity groups retained their previous month’s annual growth rate. (Tables 3 and 4)

Relative to their previous month’s annual growth rates, 12 regions in areas outside NCR posed  higher annual gains in March 2020. Moreover, inflation in Region X (Northern Mindanao)  inched up by 0.3 percent in March 2020 from zero percent in the previous month. Slower annual increment, on the other hand, was recorded in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) during the month at 0.6 percent.

The highest annual rate among the regions in areas outside NCR during the month was still observed in Region VII (Central Visayas) at 4.1 percent, while the lowest annual rate remained in Region X (Northern Mindanao) at 0.3 percent. (Table 4)

 

Note:

1. The PSA was able to collect prices of commodities such as food items and petroleum products during the implementation of Enhanced Community Quarantine in the entire Luzon and in other provinces of the country.

2. The 2012-based CPI series for the bottom 30% income households was revised to update the list of commodities included in the market basket of Region IX (Zamboanga Peninsula). Thus, the CPIs and inflation rates from January 2012 to February 2020 for the Philippines, AONCR, and Region IX (Zamboanga Peninsula) were revised for selected commodity groups.

3. The updated database of monthly CPI series  and inflation rates for the bottom 30% income households at the national, regional, provincial, and selected city levels are posted at the PSA website (http://openstat.psa.gov.ph/).
 

See more at the Consumer Price Index for Bottom 30% Income Households Main page.

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