August 2011

Year-on-Year Inflation Rates, All Items
August 2010 - August 2011

p - preliminary
r - revised

Year-on-Year

The annual change in the General Wholesale Price Index (GWPI) at the national level further slowed down to 8.4 percent in August from 9.8 percent in July. This was due to the deceleration in the annual increments in all the commodity groups. From a double-digit annual rate of 36.1 percent in July, the index of crude materials, inedible except fuels eased to 9.5 percent in August; chemicals, including animal and vegetable oils and fats, 2.7 percent from 6.5 percent; food, 4.0 percent from 5.0 percent; beverages and tobacco, 6.6 percent from 7.3 percent; mineral fuels, lubricants and related materials, 25.1 percent from 25.5 percent; machinery and transport equipment, 1.6 percent from 1.9 percent; miscellaneous manufactured articles, 4.5 percent from 4.6 percent; and manufactured goods classified chiefly by materials, 3.0 percent from 3.1 percent.

• The annual movement in the GWPI in Luzon also slid to 9.4 percent in August from 10.9 percent in July. Except for miscellaneous manufactured articles index where the annual growth remained at 4.8 percent, slowdowns were posted in the indexes of all the commodity groups. The annual gain in crude materials, inedible except fuels was slower at 9.9 percent in August from 38.5 percent in July; chemicals, including animal and vegetable oils and fats, 2.3 percent from 7.4 percent; beverages and tobacco, 7.2 percent from 7.8 percent; food, 4.9 percent from 5.5 percent; mineral fuels, lubricants and related materials, 26.7 percent from 27.1 percent; manufactured goods classified chiefly by materials, 2.9 percent from 3.0 percent; and machinery and transport equipment, 1.1 percent from 1.2 percent.
  

• Similarly, the annual increase in the wholesale prices of commodities in Visayas improved to 4.9 percent in August from 7.9 percent in July. Lower annual rates were noted in the indexes of the following commodity groups: crude materials, inedible except fuels (10.4% from 29.7%); machinery and transport equipment (3.6% from 5.8%); miscellaneous manufactured articles (1.7% from 2.7%); mineral fuels, lubricants and related materials (21.0% from 21.7%); manufactured goods classified chiefly by materials (3.7% from 4.2%); and beverages and tobacco (6.5% from 6.9%). Meanwhile, a higher annual rate was registered in the index of chemicals, including animal and vegetable oils and fats at 3.2 percent from 2.2 percent. The index for food remained stable as it recorded a zero growth during the month.
  

• In Mindanao, the annual growth in the GWPI was slower at 2.8 percent in August compared to its last month's rate of 3.1 percent. This was effected by the annual slowdown in the index of miscellaneous manufactured articles at 4.5 percent in August from 5.0 percent in July; mineral fuels, lubricants and related materials, 4.4 percent from 5.4 percent; beverages and tobacco, 3.0 percent from 3.5 percent; and food, 1.3 percent from 1.7 percent. On the other hand, higher annual increases were seen in the indexes of the following: crude materials, inedible except fuels, 0.9 percent from zero growth; manufactured goods classified chiefly by materials, 3.6 percent from 3.2 percent; and chemicals, including animal and vegetable oils and fats, 4.3 percent from 4.1 percent. The index for machinery and transport equipment retained its last month's rate of 3.0 percent.
  

• By Commodity Group, Month-on-Month

  The monthly movement of the GWPI at the national level further went down to -0.7 percent in August from -0.5 percent in July. It resulted from the negative monthly rates noted in the indexes of crude materials, inedible except fuels at -14.9 percent in August from -5.6 percent in July; chemicals, including animal and vegetable oils and fats, -2.5 percent from -1.0 percent; and mineral fuels, lubricants and related materials, -0.7 percent from -0.8 percent. However, higher monthly gains were registered in the indexes of food and beverages and tobacco at 0.1 percent from -0.3 percent and zero growth, respectively. The monthly movement in the machinery and transport equipment index was zero while those for manufactured goods classified chiefly by materials and miscellaneous manufactured articles remained at their last's month's rate of 0.1 percent.
  

  • Price reductions were noticed in copra during the month. Thus, declines were posted in the indexes of crude materials, inedible except fuels in Luzon and Visayas at -15.4 percent and -14.8 percent, respectively. On the other hand, higher prices of bamboo, charcoal and firewood raised the group's index in Mindanao by 0.9 percent. The national index moved at a negative rate of -14.9 percent.
    

  • The 3.3 percent drop in chemicals, including animal and vegetable oils and fats in Luzon was attributed to the downward adjustments in the prices of coconut oil and selected washing compound in the area. Meanwhile, in Visayas, higher prices of some paints and fertilizer pushed up the group's index by 1.1 percent. In Mindanao, no changes were observed in the prices of chemicals, including animal and vegetable oils and fats as its index had a zero growth. These mixed price trends caused the group's national index to move at a negative rate of -2.5 percent.
    

  • Movements in mineral fuels, lubricants and related materials index in Luzon at -0.5 percent and in Visayas at -3.8 percent were due to lower prices of petroleum products in the two areas during the month. However, price hikes on LPG in Mindanao pushed up the group's index by 0.1 percent. In the Philippines, the monthly rate of change in the group's index was recorded at -0.7 percent from -0.8 percent.

  • The food index in Luzon went up 0.2 percent from a negative rate of -0.5 percent as increases were noticed in the prices of some food items such as selected fish species, fruits, vegetables and selected spices and seasonings. Prices of some fruits, vegetables, roots and tubers and pork were also up in Mindanao. Thus, the group's index in the area grew by 0.1 percent, slower than the 1.0 percent. In Visayas, downward adjustments in the prices of sugar, garlic and some fruits and vegetables contributed to a -0.3 percent decrease in the group's index. At the national level, the monthly change in the group's index gained by 0.1 percent from -0.3 percent.

  • Higher prices of some cigarettes resulted to a 0.1 percent growth in beverages and tobacco index in Luzon. Likewise, upward adjustment in the prices of selected softdrinks contributed to a 0.4 percent increase in the group's index in Mindanao. In Visayas, prices of beverages and tobacco generally remained stable as its group's index had a zero growth. In the Philippines, the group's index inched up by 0.1 percent.
    

  • A 0.6 percent growth in manufactured goods classified chiefly by materials index in Visayas was brought about by price additions on selected paper products and cotton thread in the area. In Mindanao, the group's index moved at its last month's rate of 0.1 percent as price hikes were noticed in some wood products and reinforced concrete pipes during the month. In Luzon, no changes were noticed in the prices of manufactured goods classified chiefly by materials as its group's index had a zero growth. The group's national index moved at its last month's rate of 0.1 percent.
    

  • The miscellaneous manufactured articles index in Visayas gained 0.1 percent due to price add-ons in selected electrical and water pipes in the area. Higher prices of some clothing items and undergarments were also seen in Mindanao. Hence, the group's index in the area rose 0.2 percent. In Luzon, prices of miscellaneous manufactured articles remained stable during the month. At the national level, the monthly rate of the group's index was still posted at 0.1 percent.
    

  • The index of machinery and transport equipment in the four areas had a zero growth during the month.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: November 04, 2011