Slower monthly hike in clothing-footwear index in Philippines in Sept

06 Oct '23

1 min read

Pic: Sorbis / Shutterstock

Insights

The month-on-month growth rate of the Philippines' seasonally-adjusted CPI for all items accelerated to 1.2 per cent in September from a 1.1-per cent increase in August.
A slower monthly increase was noted in the index of clothing and footwear: 0.2 per cent in September from 0.4 per cent in August.
Seasonal factors did not affect the clothing and footwear index.

The month-on-month (MoM) growth rate of the Philippines’ seasonally-adjusted consumer price index (CPI) for all items accelerated to 1.2 per cent in September this year from a 1.1-per cent increase in August.

Housing, water, electricity, gas and other fuels index posted a 0.8-per cent MoM increase in the month from a 0.6-per cent decline in August.

On the other hand, a slower monthly increase was noted in the index of clothing and footwear: 0.2 per cent in September from 0.4 per cent in the previous month.

Seasonal factors, such as the degree of demand for selected goods and services during the season, did not affect the clothing and footwear index.

In the National Capital Region (NCR), slower MoM growth rates were observed in the deseasonalised CPI of clothing and footwear: 0.1 per cent in September from August’s 0.2 per cent.

In areas outside NCR, the monthly rate in the seasonally-adjusted CPI for all items further increased to 1.4 per cent in September from a 1.2-per cent rise in August. The clothing and footwear index registered a slower monthly increase at 0.3 per cent in September from a 0.4 per cent increment in the previous month.

Fibre2Fashion News Desk (DS)

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