As reported by the National Statistics Office (NSO), year-on year headline inflation rate for all items in the Philippines slowed down to 2.2 percent in March 2007 from 7.6 percent in the same period last year. This was the lowest inflation rate after April 1987 (1.0 percent) according to the NSO. The headline inflation rates for March 2007 in the National Capital Region (NCR) and areas outside NCR were 2.1 percent and 2.3 percent, respectively. Meanwhile, the core inflation rate for March 2007 was posted at 2.6 percent. 

In NCR, the seasonally-adjusted consumer price index (CPI) for food, beverages and tobacco (FBT) in March 2007 remained constant at 129.7 compared to the previous month, while the non-FBT CPI slightly increased by 0.5 percentage points.  In areas outside NCR, the seasonally adjusted CPI for FBT and non-FBT for March 2007 both increased by 0.3 and 0.2 percentage points, respectively, compared to February 2007.

The generation of the inflation rates based on the CPI and the generation of seasonally-adjusted CPI are designated statistical activities of the NSO under Executive Order 352, Designation of Statistical Activities That Will Generate Critical Data for Decision-Making of the Government and the Private Sector, issued on July 1, 1996.  Per EO, data on CPI and seasonally-adjusted CPI should be made available five days and ten days, respectively, after the reference month.  The NSO released the March 2007 data on CPI and seasonally-adjusted CPI on April 4, 2007.  The CPI uses 2000 as base year. For further inquiries, please contact Ms. Rosie B. Sta. Ana, Chief of the Economic Indicators and Indices Division of the NSO, at telefax numbered 716-39-35 or e-mail address R.Staana@census.gov.ph.

Link to data sources:
http://www.census.gov.ph/data/pressrelease/2007/cp0703tx.html
http://www.census.gov.ph/data/pressrelease/2007/cpsa0703tx.html