Month-on-Month Growth Rates

• Philippines

The seasonally adjusted CPI for all items and non-food at the national level both moved up at a slower pace of 0.1 percent in April from 0.4 percent in March. Likewise, a 0.1 percent growth recorded in the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; and health was slower from their previous month’s rate of 0.3 percent. On the other hand, movement in the education index remained at 0.2 percent while those for the indices of housing, water, electricity, gas and other fuels; recreation and culture; and restaurant and miscellaneous goods and services registered zero growth during the month.

Relative to the expected trend, the indices of non-food; housing, water, electricity, gas, and other fuels; and restaurant and miscellaneous goods and services were pushed up by the seasonal factors such as the production of selected goods for the graduation season and higher demand for construction materials during summer months. These seasonal factors, however, pushed down the indices for all items; recreation and culture; and education while it did not affect the indices of clothing and footwear; furnishing, household equipment and routine maintenance of the house; and health.

• National Capital Region (NCR)

The monthly growth of the seasonally adjusted CPI for all items in NCR slowed down to 0.2 percent in April from 0.4 percent in March and alcoholic beverages and tobacco, 0.3 percent from 1.5 percent. Similarly, increases in the indices of non-food and housing, water, electricity, gas and other fuels eased to 0.1 percent from 0.4 percent and 0.8 percent, respectively and furnishing, household equipment and routine maintenance of the house and education indices, 0.2 percent from their corresponding previous month’s rates of 0.7 percent and 0.3 percent. On the other hand, the index of food and non-alcoholic beverages went up by 0.5 percent from 0.2 percent. The monthly rate in health index remained at 0.3 percent while a zero growth was noted in the indices of clothing and footwear; recreation and culture; and restaurant and miscellaneous goods and services.

The seasonal factors such as the production of selected goods during the graduation season and higher demand of construction materials during summer months pushed up the indices of the alcoholic beverages and tobacco; non-food; housing, water, electricity, gas and other fuels; and restaurant and miscellaneous goods and services relative to the expected trend. On the contrary, these seasonal factors pushed down the indices of the following commodity groups:

• Food and Non-alcoholic Beverages
• Clothing and Footwear
• Recreation and Culture
• Education

The other commodity groups were not affected by these seasonal factors.

• Areas Outside National Capital Region (AONCR)

In AONCR, the monthly increment of the seasonally adjusted CPI for all items and non-food both decelerated to 0.1 percent in April from 0.3 percent in March. A slower monthly growth of 0.1 percent was also noticed in the indices of the following commodity groups:

• Clothing and Footwear
• Furnishing, Household Equipment and Routine Maintenance of the House
• Health
• Education

Meanwhile, the transport index moved up at a faster pace of 0.5 percent from 0.3 percent while that for restaurant and miscellaneous goods and services index remained at 0.1 percent. A zero growth was registered in housing, water, electricity gas, and other fuels index.

Relative to the expected trend, the indices for all items and education were pushed down by the seasonal factors such as the production of selected goods during the graduation season and bigger demand of construction materials during summer months. On the other hand, these seasonal factors raised the indices for non-food; housing, water, electricity, gas and other fuels; and transport. The indices of the following commodity groups were not affected by these seasonal factors:

• Clothing and Footwear
• Furnishing, Household Equipment and Routine Maintenance of the House
• Health
• Restaurant and Miscellaneous Goods and Services