Year-on year headline inflation rate for all items in the Philippines slowed down to 2.6 percent in July 2007 from 6.4 percent in the same month last year, as reported by the National Statistics Office (NSO). Meanwhile, the headline inflation rates for July 2007 in the National Capital Region (NCR) and areas outside NCR were 2.7 percent and 2.6 percent, respectively. The core inflation for July 2007 was posted at 3.0 percent.

In the NCR, the seasonally adjusted consumer price index (CPI) of food, beverages and tobacco (FBT) and non-FBT items in July 2007 went up by 0.7 and 2.0 percentage points, respectively, compared to June 2007. In areas outside NCR, the seasonally adjusted CPI for both FBT and non-FBT for July 2007 posted an increment of 0.2 percentage point compared to previous month.

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/cp0707tx.html
http://www.census.gov.ph/data/pressrelease/2007/cpsa0707tx.html