Month-on-Month Growth Rates

• Philippines

At the national level, the seasonally adjusted CPI for all items went up by 0.7 percent in September from 0.2 percent in August. In addition, higher monthly increments were registered in the indices of non-food at 0.6 percent from 0.4 percent; clothing and footwear, 0.3 percent from 0.1 percent; housing, water, electricity, gas and other fuels, 1.4 percent from 0.5 percent; and restaurant and miscellaneous goods and services, 0.3 percent from 0.2 percent. The health index, however, moved at a slower pace of 0.1 percent from 0.2 percent. On the other hand, movements in the indices of furnishing, household equipment and routine maintenance of the house remained at 0.1 percent and recreation and culture and education, 0.2 percent.

Contrary to the expected trend, the lean season that was still felt in the month of September pushed up the indices of recreation and culture; education; and restaurant and miscellaneous goods and services. On the other hand, this seasonal factor pushed down the indices of the following commodity groups:

• All Items;
• Non-food;
• Clothing and Footwear; and
• Housing, Water, Electricity, Gas and Other Fuels

The indices for furnishing, household equipment and routine maintenance of the house and health were not affected by this seasonal factor (see Table 1).

• National Capital Region (NCR)

The seasonally adjusted CPI for all items and food and non-alcoholic beverages in NCR both picked up by 1.1 percent in September from their corresponding previous month’s rates of 0.4 percent and zero growth. Moreover, faster monthly increases were noted in the indices of alcoholic beverages and tobacco at 0.7 percent from 0.5 percent; non-food, 1.2 percent from 0.5 percent; clothing and footwear, 0.3 percent from 0.2 percent; housing, water, electricity, gas and other fuels, 2.2 percent from 0.6 percent; and restaurant and miscellaneous goods and services, 0.8 percent from 0.5 percent. From a zero growth in the previous month, the furnishing, household equipment and routine maintenance of the house index went up by 0.2 percent. The increment in the health index, however, slowed down to 0.1 percent from 0.2 percent while the education index retained its previous month’s rate of 0.2 percent. That for recreation and culture index registered a zero growth during the month.

Relative to the expected trend, the lean month of September pushed down the indices of the following commodity groups:

• All Items;
• Food and Non-alcoholic Beverages;
• Alcoholic Beverages and Tobacco;
• Non-food; and
• Housing, Water, Electricity, Gas and Other Fuels.

This seasonal factor, however, raised the indices of furnishing, household equipment and routine maintenance of the house; health; recreation and culture; education; and restaurant and miscellaneous goods and services. The clothing and footwear index was not affected by this seasonal factor (see Table 2).

• Areas Outside National Capital Region (AONCR)

In AONCR, the month-on-month growth of the seasonally adjusted CPI for all items was higher at 0.5 percent in September from 0.2 percent in August; clothing and footwear, 0.2 percent from 0.1 percent; and housing, water, electricity, gas and other fuels, 0.8 percent from 0.4 percent. On the other hand, the increase of the transport index decelerated to 0.4 percent from 0.7 percent. The same previous month’s rates were registered in the following commodity groups:

• Non-food (0.4 percent);
• Furnishing, Household Equipment and Routine Maintenance of the House (0.1 percent);
• Health (0.2 percent);
• Education (0.2 percent); and
• Restaurant and Miscellaneous Goods and Services (0.1 percent).

The lean season that was still felt during the month of September pushed up the education index while it did not affect the index for furnishing, household equipment and routine maintenance of the house. However, this seasonal factor pushed down the indices of the following commodity groups:

• All Items;
• Non-food;
• Clothing and Footwear;
• Housing, Water, Electricity, Gas and Other Fuels;
• Health;
• Transport; and
• Restaurant and Miscellaneous Goods and Services (see Table 3).