The National Statistics Office (NSO) said on Wednesday that October consumer prices inched up by 0.5 percent in October compared to figures in September due to various adjustments of the production of selected goods during seasonal holidays and suspension of classes and work for the same month.
“Seasonal factor like the increase in production of selected goods in preparation for the holiday season pushed up the index for all items; furnishing, household equipment and routine maintenance of the house index; and education index relative to the expected trend,” the NSO said, referring to the country’s consumer prices as a whole.
“This seasonal factor, however, pushed down the indices for alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; health; and restaurant and miscellaneous goods and services. No effect was seen in the index of recreation and culture during the period,” the state-run statistical body added.
For the National Capital Region (NCR, or Metro Manila), the NSO said that the indices for household equipment, nonfood and transport, alcoholic beverages and tobacco, as well as education dropped slightly in October, which ranged from 0.1 percent to 1 percent.
“Higher production of the [aforementioned]selected goods pushed down the aggregate nonfood index and alcoholic beverages and tobacco index. However, this seasonal factor raised the indices of furnishing, household equipment and routine maintenance of the house; transport and education,” the NSO said.
The statistical body also said that the seasonal holiday season affected several goods production which “pulled down the indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; and health.”
“While this seasonal factor pushed up the indices for recreation and culture and education, it did not affect the seasonally adjusted CPI [consumer price index]for clothing and footwear and restaurant and miscellaneous goods and services relative to the expected trend,” the NSO added.
Monthly increase of consumer prices of product goods was slower in October, which include beverages and tobacco at 1 percent from 1.1 percent; health index at 0.2 percent from 0.3 percent; while clothing and footwear rose greater from 0.2 percent to 0.5 percent.
Among other sectors that moved up or down, some sectors did not move and registered zero growth, which include sectors of housing, water, electricity, gas and other fuels.