Summary Inflation Report Consumer Price Index (2006=100) : September 2017

Reference Number: 

2017-119

Release Date: 

Thursday, October 5, 2017

YEAR-ON-YEAR

Philippines2012 Census of Agriculture and Fisheries

The country’s annual headline inflation moved up at a faster pace of 3.4 percent in September 2017. In the previous month, the annual  increase was posted at 3.1 percent and in September 2016, 2.3 percent. This was primarily due to the 3.6 percent annual growth recorded in the heavily-weighted food and non-alcoholic beverages index. Higher annual increments registered in the following commodity groups also contributed to the uptrend:

  • Alcoholic Beverages and Tobacco (6.4%);
  • Clothing and Footwear (2.0 %);
  • Housing, Water, Electricity Gas and Other Fuels (3.8%);
  • Transport (4.8%); and
  • Restaurant and Miscellaneous Goods and Services (2.4%).

The rest of the commodity groups retained their previous month’s rates except for the index of health whose annual gain was slower at 2.3 percent (see Tables 6 and 8).

Excluding selected food and energy items, core inflation further moved up by 3.3 percent in September 2017. Its annual growth in the previous month was observed at 3.0 percent and in September 2016, 2.3 percent (see Table 15)..2012 Census of Agriculture and Fisheries

The annual growth of the food alone index at the national level was recorded at 3.7 percent in September 2017. It was the same rate registered in August 2017 while in September 2016, its annual mark-up was seen at 3.1 percent (see Table 13).

Higher annual add-ons were observed in the indices of corn and other cereals, flour, cereal preparation, bread,  pasta and other bakery products, both at 1.9 percent; fish, 10.0 percent; oils and fats, 5.9 percent, vegetables, 4.3 percent and food products not elsewhere classified, 1.0 percent. The rest of the food groups posted lower annual hikes with the index of sugar, jam, honey, chocolate and confectionery still recording annual decline at -2.8 percent (see Table 10).

 

 

 
Year-on-Year Inflation Rates in the Philippines, All Items
January 2012 - September 2017
(2006=100)

Month

Year

2012 2013 2014 2015 2016 2017
Jan 4.0 3.1 4.2 2.4 1.3 2.7
Feb 2.7 3.4 4.1 2.5 0.9 3.3
Mar 2.6 3.2 3.9 2.4 1.1 3.4
Apr 3.0 2.6 4.1 2.2 1.1 3.4
May 3.0 2.6 4.5 1.6 1.6 3.1
Jun 2.9  2.7 4.4 1.2 1.9 2.7
Jul 3.2 2.5 4.9 0.8 1.9 2.8
Aug 3.8 2.1 4.9 0.6 1.8 3.1
Sep 3.7 2.7 4.4 0.4 2.3 3.4
Oct 3.2 2.9 4.3 0.4 2.3  
Nov 2.8 3.3 3.7 1.1 2.5  
Dec 3.0 4.1 2.7 1.5 2.6  
Ave 3.2 3.0 4.1 1.4 1.8  

 

National Capital Region (NCR)

Inflation in NCR continued to climb up as it registered  a growth of 4.7 percent in September 2017. In the previous month, it was pegged at 4.0 percent and in September 2016, 2.0 percent.  This was brought about by the higher annual increment observed in food and non-alcoholic beverages index at 5.0 percent and the double-digit annual mark-up sttll noticed in the transport index at 11.3 percent. Annual gains were also higher in the indices of the following commodity groups:

  • Alcoholic Beverages and Tobacco (8.2%);
  • Clothing and Footwear (2.3%);
  • Housing, Water, Electricity, Gas an other Fuels (4.0%);
  • Furnishing, Household Equipment and Routine Maintenance of the House (1.9%); and
  • Restaurant and Miscellaneous Goods and Services (5.2%).

A slower annual growth was however, seen in the health index at 3.4 percent while those for the indices of the rest of the commodity groups moved at their previous month’s rates. (see Tables 6 and 8).

Areas Outside NCR (AONCR)

Similarly, inflation in AONCR picked up by 3.0 percent September 2017.  Its annual rate in the previous month  was  2.8 percent and in Spetember 2016, 2.4 percent. Higher annual increases were posted in the indices of the following commodity groups:

  • Alcoholic Beverages and Tobacco (6.1%);
  • Housing, Water, Electricity, Gas an other Fuels (3.7%); and
  • Transport (3.0%).

The rest of the commodity groups retained their previous month’s rates (see Tables 6 and 8).

Higher annual increments were registered in 11 regions. The highest annual inflation of 4.8 percent was recorded in Autonomous Region in Muslim Mindanao while the lowest rate at 1.5 percent was still recorded in SOCCSKSARGEN (see Table 8).

MONTH-ON-MONTH2012 Census of Agriculture and Fisheries

Prices of consumer items at the national level went up by 0.5 percent in September 2017. It the previous month, the rate stood at 0.3 percent. This was mainly effected by the 0.5 percent growth posted in food and non-alcoholic beverages index. Higher monthly rates were also noted in the indices of housing, water, electricity, gas and other fuels at 1.0 percent; transport, 0.6 percent; and restaurants and miscellaneous goods and services, 0.3 percent. The rest of the commodity groups either had slower increments or retained their previous month’s rate with the indices of communication and education recording a zero growth (see Table 7).

Higher charges in electricity rates were noted in NCR and in many provinces during the month. Most of the regions also registered upward adjustments in the prices of petroleum products such as LPG, kerosene, gasoline and diesel.

Food prices particularly corn, fruits, vegetables, fish and cooking oil were also higher in many regions during the period.

Notes:

  1. The second phase survey reports from Tawi-Tawi, Isabela City and Lanao del Sur were not received as of 4 October 2017.
  2. Prices of Marawi City in Lanao del Sur were imputed for September 2017 based on the price movements of commodities of the nearest province, Lanao del Norte. The province of Lanao del Sur still was not able to conduct price surveys in Marawi City due to the current peace and order problem in the area.
  3. 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) ROMEO S. RECIDE
Assistant Secretary
Deputy National Statistician
 

 

 

 

 

 

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