The National Statistics Office (NSO) revealed that the year-on-year headline inflation rate for all items at the national level declined to 2.6 percent in February 2007 from 7.6 percent in the same period last year.  This was the lowest recorded inflation rate since December 2002 according to NSO.  The headline inflation rates from February 2007 for the National Capital Region (NCR) and areas outside NCR were 2.4 percent and 2.7 percent respectively.  Meanwhile, the core inflation rate for February 2007 was recorded at 3.0 percent.

In NCR, the seasonally-adjusted consumer price index (CPI) for food, beverages and tobacco (FBT) and non-FBT items in February 2007 registered decreases of 0.2 and 0.4 percent, respectively, compared to the previous month.  In areas outside NCR, the seasonally adjusted CPI for both FBT and non-FBT increased by 0.1 percent in February 2007.

The generation of the inflation rates and the 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, after the reference month respectively.  The NSO released the February 2007 data on CPI and seasonally adjusted CPI on March 6, 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 source: http://www.census.gov.ph/data/pressrelease/2007/cp0702tx.html; http://www.census.gov.ph/data/pressrelease/2007/cpsa0702tx.html