February 2011

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

p - pleminary
r - revised

Year-on-Year

• The annual growth rate of the General Wholesale Price Index (GWPI) at the national level accelerated to 8.2 percent in February from 6.6 percent in January. Except for the index of crude materials, inedible except fuels which had a slower annual rate of 73.3 percent, higher annual gains were observed in the indexes of all the commodity groups. The annual hike in the food index went up to 4.8 percent in February from 4.6 percent in January; beverages and tobacco, 5.4 percent from 3.6 percent; mineral fuels, lubricants and related materials, 14.9 percent from 10.1 percent; chemicals, including animal and vegetable oils and fats, 11.7 percent from 10.9 percent; manufactured goods classified chiefly by materials, 2.3 percent from 1.2 percent; machinery and transport equipment, 1.2 percent from 0.7 percent; and miscellaneous manufactured articles, 3.9 percent from 2.7 percent.
  

• The annual movement in the GWPI in Luzon jumped to 9.3 percent in February from 6.9 percent in January. The annual rate of increase in the food index was higher at 4.8 percent in February from 4.1 percent in January; beverages and tobacco, 6.1 percent from 3.6 percent; mineral fuels, lubricants and related materials, 17.9 percent from 10.2 percent; chemicals, including animal and vegetable oils and fats, 15.4 percent from 14.0 percent; manufactured goods classified chiefly by materials, 2.5 percent from 1.2 percent; machinery and transport equipment, 0.5 percent from 0.1 percent; and miscellaneous manufactured articles, 3.4 percent from 2.7 percent. On the other hand, a slower annual increment was noted in the index of crude materials, inedible except fuels at 64.1 percent from its last month's rate of 80.0 percent.
  

• Similarly, the annual change in wholesale prices in Visayas further climbed to 8.9 percent in February from 7.9 percent in January. This was attributed to the 22.4 percentage points rise (80.1% from 57.7%) in the index of crude materials, inedible except fuels. Likewise, higher annual rates were posted in the indexes of the following commodity groups: beverages and tobacco (7.7% from 6.8%); mineral fuels, lubricants and related materials (19.2% from 15.3%); manufactured goods classified chiefly by materials (1.8% from 1.1%); and miscellaneous manufactured articles (2.2% from 2.1%). However, the movement in the food index eased to 7.9 percent from 8.5 percent last month. The annual rate of adjustment for the indexes of chemicals, including animal and vegetable oils and fats and machinery and transport equipment remained at their corresponding previous month's rates of -1.1 percent and 5.5 percent.
  

• In Mindanao, the annual gain in the GWPI inched up to 2.8 percent in February from 2.7 percent in January. It resulted from a higher annual increase in the index of beverages and tobacco at 1.7 percent in February from 1.0 percent in January; manufactured goods classified chiefly by materials, 2.1 percent from 1.3 percent; and miscellaneous manufactured articles, 4.3 percent from 2.8 percent. Meanwhile, the annual growth in the food index slowed to 4.8 percent from 4.9 percent; crude materials, inedible except fuels, 0.9 percent from 1.2 percent; mineral fuels, lubricants and related materials, 0.6 percent from 1.0 percent; chemicals, including animal and vegetable oils and fats, 1.2 percent from 1.3 percent; and machinery and transport equipment, 0.6 percent from 0.8 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, movement in wholesale prices at the national level slowed by 0.2 percentage point to 1.9 percent in February from 2.1 percent in January. Lower monthly increments were recorded in the indexes of the following: crude materials, inedible except fuels, 7.9 percent in February from 10.8 percent in January; mineral fuels, lubricants and related materials, 4.2 percent from 5.3 percent; and chemicals, including animal and vegetable oils and fats, 1.6 percent from 3.5 percent. A higher adjustment was however seen in beverages and tobacco index at 2.1 percent from 0.7 percent; manufactured goods classified chiefly by materials, 0.5 percent from 0.4 percent; machinery and transport equipment, 0.6 percent from -0.3 percent; and miscellaneous manufactured articles, 0.6 percent from 0.3 percent. The monthly growth for food index was still at its last month's rate of 1.0 percent.
  

  • Uptick in the prices of copra in Luzon and add-on in the prices of charcoal in Mindanao pushed up the crude materials, inedible except fuels index in the areas by 7.6 percent and 0.1 percent, respectively. These were however, slower than their corresponding last month's rates of 12.1 percent and 1.2 percent. Meanwhile, additions in the prices of copra, bamboo, firewood and pebbles in Visayas raised its group's index by 14.2 percent. The group's national index moved up at a slower pace of 7.9 percent from 10.8 percent.
    

  • The chemicals, including animal and vegetable oils and fats index in Luzon grew by 2.0 percent in February, slower than the 4.2 percent rate last month. This was due to higher prices of coconut oil, paints and other pharmaceutical products during the period. On the other hand, prices of chemicals, including animal and vegetable oils and fats in Visayas and Mindanao generally remained stable as their groupsÒ index had a zero growth. The monthly price change at the national level was registered at 1.6 percent.
    

  • Adjustment in mineral fuels, lubricants and related materials index at 4.5 percent in Luzon was effected mainly by the price increments in crude oil and petroleum products such as gasoline, kerosene, fuel oil and diesel oil. Similarly, add-ons in the prices of petroleum products were observed in Visayas. Thus, its group's index gained 3.3 percent, slower than the 3.4 percent increase last month. On the other hand, a -0.4 percent decline in the group's index in Mindanao was attributed to reductions in the prices of LPG in the area during the month. At the national level, movement in the group's index slowed down to 4.2 percent from 5.3 percent last month.
    

  • The beverages and tobacco index in Luzon recorded a 2.5 percent growth in February as prices of selected liquors, cigarettes and softdrinks were on the uptrend in the area. In Mindanao, higher prices of selected cigarettes caused a 0.7 percent increase in the group's index. Moreover, movement in the group's index in Visayas at 0.9 percent was due to price hikes in some cigarettes and liquors. The national index moved at a faster rate of 2.1 percent from 0.7 percent.
    

  • Higher prices of selected transport equipment and electrical apparatus in Luzon were noted during the month. Thus, the machinery and transport equipment index in the area jumped to 0.6 percent from -0.4 percent. Similarly, prices of electrical appliances and electrical apparatus raised the group's index in Mindanao by 0.9 percent. In Visayas, increases in the prices of electrical wires and appliances pushed up its group's index by 0.1 percent. At the national level, the group's index advanced to 0.6 percent.
    

  • A 0.7 percent increment was posted in the manufactured goods classified chiefly by materials index in Visayas as prices of selected construction materials, wood products and selected paper products were up in the area. Moreover, upward adjustments in the prices of selected rubber tires, plywood and paper products pulled up the group's index in Mindanao by 0.9 percent. In Luzon, the same growth of 0.4 percent was still noticed in the group's index. All these factors contributed to a 0.5 percent increase in the national index.
    

  • The monthly price change in miscellaneous manufactured articles index in Mindanao at 1.8 percent was brought about by higher prices in selected clothing items, footwear and office supplies. Likewise, price hikes in some plumbing fixtures in Visayas pushed up its group's index by 0.1 percent. Price add-ons in selected sanitary fixtures, furniture and clothing effected a 0.6 percent growth in the group's index in Luzon. Thus, the group's national index also picked up by 0.6 percent during the period.
    

  • The food index in Luzon gained 1.2 percent as prices of selected food items such as sugar, rice, chicken, cooking oil, onions, selected vegetables and some fish species went up during the month. Higher prices of copra meal, poultry feeds and desiccated coconut were also noted in the area. Price uptick in the same food items was also seen in Mindanao that it caused a 0.2 percent increase in the group's index. Meanwhile, prices of food items in Visayas generally remained stable during the period. At the national level, the index moved up at its last month's rate of 1.0 percent.
    

    _______________________________________________________________

    NOTE :

    Revisions of the monthly series from January 2009 to March 2010 were made to incorporate the machinery and equipment rental rates based on the latest updated data from the official source.

• ---

  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: April 30, 2011