Philippine inflation steady at 3% in February,
The monthly growth of the seasonally adjusted CPI for all items at the national level moved at a slower pace of 0.3 percent in February 2022, from 0.4 percent in January 2022.
Slower monthly increments were also noted in the seasonally adjusted CPI for the following commodity groups:
a. Clothing and Footwear, 0.1 percent from 0.2 percent; b. Furnishing, household equipment and routine maintenance of the house, 0.1 percent from 0.4 percent; c. Health, 0.1 percent from 0.3 percent; and d. Personal care, and miscellaneous goods and services, 0.2 percent from 0.4 percent.
On the contrary, the monthly uptick was higher in the deseasonalized CPI for non-food at 0.5 percent in February 2022, from 0.3 percent in January 2022. The same trend was observed for housing, water, electricity, gas, and other fuels which recorded a monthly growth rate of 0.3 percent, from 0.1 percent; and restaurant and accommodation services at 0.3 percent, from 0.2 percent.
Furthermore, the seasonally adjusted CPI for food and non-alcoholic beverages dropped by -0.3 percent, from a monthly rate of 0.7 percent in the previous month.
Meanwhile, the seasonally adjusted CPI for alcoholic beverages and tobacco, as well as education, remained at 0.1 percent.
This seasonal factor such as the degree of demand of selected commodities during the season pushed up the indices for the following:
a. All items; b. Food and non-alcoholic beverages; c. Alcoholic beverages and tobacco d. Non-food; e. Housing, water, electricity, gas, and other fuels; and f. Personal care, and miscellaneous goods and services.
Although this seasonal factor pushed down the index of education, it did not affect the indices for clothing and footwear; furnishing, household equipment and routine maintenance of the house; health; and restaurant and accommodation services.