Year-on-Year Growth Rates, All Items
August 2011 - August 2012

p - pleminary
r - revised

Year-on-Year

• The year-on-year growth in the General Wholesale Price Index (GWPI) at the national level jumped to 2.4 percent in August from -0.2 percent in July. Higher annual increments were recorded in the food index at 5.5 percent in August from 3.8 percent in July and mineral fuels, lubricants and related materials index, 1.6 percent from -5.0 percent. On the other hand, negative annual rates were still posted in the indices of crude materials, inedible except fuels (-13.1% from -23.0%) and chemicals including animal and vegetable oils and fats (-0.2% from -2.1%). The annual movements for the rest of the commodity groups either slowed down or remained at their last month's rate.
  

• The same trend was observed in Luzon as its annual growth picked up by 2.6 percent in August from -0.4 percent in July. The upward adjustment in the heavily weighted food index went up 6.4 percent in August from 4.7 percent in July; mineral fuels, lubricants and related materials index, 1.4 percent from -5.3 percent; and manufactured goods classified chiefly by materials index, 2.1 percent from 2.0 percent. Meanwhile, the annual decline was still seen in crude materials, inedible except fuels index at -15.6 percent from -25.2 percent and chemicals including animal and vegetable oils and fats index, -0.7 percent from -3.2 percent. A slower annual increase was also noted in beverages and tobacco index at 1.6 percent from 1.7 percent. The annual growths of the indices for machinery and transport equipment and miscellaneous manufactured articles remained at their respective last month's rates of 2.8 percent and 1.8 percent.
  

• Similarly, the annual change in the wholesale prices of commodities in Visayas rose 1.5 percent in August from -0.7 percent in July. A higher annual uptick was registered in the food index at 1.9 percent in August from 0.8 percent in July; crude materials, inedible except fuels index, 6.7 percent from -8.8 percent; mineral fuels, lubricants and related materials index, 3.8 percent from -5.5 percent; and machinery and transport equipment index, 0.1 percent from zero growth. The annual gain in chemicals including animal and vegetable oils and fats index decelerated to 0.5 percent from 1.6 percent. The other commodity groups retained their last month's rate while a negative annual rate was noted in manufactured goods classified chiefly by materials index at -0.4 percent.
  

• Compared to its last month's rate of 1.4 percent, the GWPI in Mindanao grew by 2.1 percent in August. The corresponding annual changes in the indices of food and mineral fuels, lubricants and related materials climbed to 1.8 percent and 1.7 percent from their respective last month's rates of 0.2 percent and -0.1 percent. Meanwhile, the annual adjustment in crude materials, inedible except fuels index further dropped by -2.8 percent from -1.9 percent. Deceleration in the annual increases were noticed in the rest of the commodity groups while those for chemicals including animal and vegetable oils and fats index and machinery and transport equipment index remained at 3.4 percent and 0.6 percent, respectively.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, the wholesale prices of commodities in the country went up by 1.7 percent in August from 0.5 percent in July. It resulted from the monthly gain in the food index at 1.7 percent in August from 0.5 percent in July and mineral fuels, lubricants and related materials index, 5.3 percent from 1.4 percent. On the other hand, the index of crude materials, inedible except fuels further dropped by -3.9 percent from -0.6 percent and chemicals including animal and vegetable oils and fats index, -0.6 percent from -0.1 percent. The other commodity groups had zero percent change during the month.
  

  • Upward adjustments in the prices of petroleum products pushed up the mineral fuels, lubricants and related materials index in Luzon by 5.6 percent; Visayas, 5.7 percent; Mindanao, 1.9 percent; and in the Philippines, 5.3 percent.
    

  • Price hikes in vegetables and selected fish species primarily raised the heavily-weighted food index in the four areas: Philippines, 1.7 percent; Luzon, 1.8 percent; Visayas, 0.7 percent; and Mindanao 1.7 percent. Higher prices of eggs, selected fruits, sugar and some spices and condiments were also registered in Luzon and Visayas.
    

  • The crude materials, inedible except fuels index in Luzon decreased by -4.6 percent from -0.7 percent and in Visayas by -0.4 percent. This was effected by the lower prices of copra during the period. Meanwhile, prices of crude materials, inedible except fuels in Mindanao generally remained stable as the group's index posted a zero growth. At the national level, the group's index went down by -3.9 percent.
    

  • The downward price trend in coconut oil resulted to the -0.8 percent decline in chemicals including animal and vegetable oils and fats index in Luzon and in the Philippines, -0.6 percent. In Visayas and Mindanao, a zero growth was recorded in the group's index.
    

  • A -0.1 percent drop in the manufactured goods classified chiefly by materials index in Mindanao was brought about by the price decreases in paper products and some synthetic leather products. Meanwhile, higher prices of cement and hollow blocks were recorded in Luzon. Hence, its group's index inched up 0.1 percent. In Visayas and at the national level, the group's index had a zero growth.
    

  • The miscellaneous manufactured articles index in Visayas grew by 0.1 percent. This was brought about by higher prices of selected furniture and fixtures in the area. In Mindanao, price upticks were recorded in selected footwear and undergarments. This was however, offsetted by the reductions in the prices of professional, scientific and controlling instruments, photographic and optical goods and miscellaneous manufactured articles. Hence, a zero growth was posted in its group's index. In Luzon and in the Philippines, the monthly movement in the group's index was zero.
    

  • Prices of some electrical appliances in Visayas were on the uptrend. Thus, the machinery and transport equipment index in the area increased by 0.1 percent. On the other hand, the group's index in Luzon, Mindanao and in the Philippines had a zero growth.
    

  • The index of beverages and tobacco in the four areas had zero percent change during the period.