The Philippines’ annual headline inflation was registered at 3.4 percent in April 2017. It was the same rate posted in the previous month, while in April 2016, inflation settled to 1.1 percent. Higher annual increments were observed in the indices of food and non-alcoholic beverages at 4.2 percent in April; transport, 3.2 percent; and communication, 0.3 percent.
Annual inflation in the rest of the commodity groups decelerated with the education index still recording an annual rate of 1.8 percent. (Tables 6 and 8)
Excluding selected food and energy items, core inflation picked up by 3.0 percent in April 2017. It was 2.9 percent in the previous month and 1.5 percent during the same month in 2016. (Table 15)
The annual change of the country’s food alone index increased by 4.3 percent in April 2017. It went up by 4.2 percent in the previous month and 1.7 percent in the same period a year ago. (Table 13)
Annual upticks were higher in the indices of meat at 4.2 percent; fish, 8.8 percent; and oils and fats, 7.1 percent. On the other hand, a 0.8 percent annual decrease was seen in the indices of corn and sugar, jam, honey, chocolate and confectionery. The rest of the food groups either moved up at a slower pace or retained their previous month’s rate. (Table 10)
|Year-on-Year Inflation Rates in the Philippines, All Items
January 2012 - March 2017
National Capital Region (NCR)
Inflation in NCR, however, eased to 3.9 percent in April 2017. It went up by 4.0 percent in the previous month and 0.4 percent in April 2016. Slower annual growths were registered in the indices of the following commodity groups:
- Alcoholic Beverages and Tobacco (8.5%)
- Clothing and Footwear (3.7%)
- Housing, Water, Electricity, Gas and Other Fuels (3.0%)
- Health (2.2%)
- Recreation and Culture (3.2%)
- Restaurant and Miscelllaneous Goods andf Services (0.9%)
Meanwhile, a higher annual mark-up was noted in the transport index at 3.6 percent. The rest of the commodity groups retained their previous month’s rates. (Tables 6 and 8)
Areas Outside NCR (AONCR)
In AONCR, inflation remained at 3.3 percent in April 2017. It was pegged at 1.3 percent in April 2016. Higher annual upticks were registered in the indices of food and non-alcoholic beverages at 3.7 percent; transport, 3.1 percent; and communication, 0.2 percent. Annual increases in other commodity groups slowed down with the education index retaining its previous month’s rate of 1.6 percent. (Tables 6 and 8)
Nine regions had higher annual gains. The highest annual growth of 5.4 percent was still noticed in Region V (Bicol Region) while the lowest at 1.5 percent was in CAR (Cordillera Administrative Region). (Table 8)
Consumer prices in the Philippines inched up by 0.2 percent in April 2017, the same rate recorded in the previous month. The heavily-weighted food and non-alcoholic beverages index rose by 0.2 percent, following a 0.4 percent decline in the previous month. Moreover, a higher increment was observed in the transport index at 0.6 percent. The communication index also moved up by 0.1 percent from zero growth. The rest of the commodity groups either had slower rates or zero growth. (Table 7)
Selected fish species were priced higher during the month. This was due to bigger demand for fish as consumers shifted from meat to fish in observance of the Lenten season. Prices of other food items such as fresh meat, fruits and cooking oil also went up in selected regions.
Moreover, higher charges for electricity rates and increased prices of selected construction materials, LPG and kerosene were posted in many provinces during the period. Ship fare hikes were, likewise, reported in many regions.
Note: CPIs and inflation rates by province and selected city are also available upon request at Philippine Statistics Authority, Economic Sector Statistics Service, Price Statistics Division (Telephone Number: 376-19-59).
FOR THE NATIONAL STATISTICIAN:
(Sgd) ESTELA T. DE GUZMAN
(Deputy National Statistician, CRCSO)