July 2011

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

p - preliminary
r - revised

Year-on-Year

The annual growth of the General Wholesale Price Index (GWPI) at the national level eased to 9.8 percent in July from 9.9 percent in June. A slower annual gain was noted in the index of crude materials, inedible except fuels at 36.1 percent in July from 50.4 percent in June; chemicals, including animal and vegetable oils and fats, 6.5 percent from 8.0 percent; and machinery and transport equipment, 1.9 percent from 2.1 percent. Meanwhile, higher annual increases were observed in the corresponding indexes of food and mineral fuels, lubricants and related materials at 5.0 percent and 25.5 percent from their respective last month's rates of 4.1 percent and 25.1 percent. The annual growth for the following indexes remained at their previous month's rates: beverages and tobacco (7.3%); manufactured goods classified chiefly by materials (3.1%); and miscellaneous manufactured articles (4.6%).

• On an annual basis, increments in the wholesale prices of commodities in Luzon moved at its last month's rate of 10.9 percent in July. It resulted from a higher annual uptick in the food index at 5.5 percent in July from 4.3 percent in June; mineral fuels, lubricants and related materials, 27.1 percent from 26.8 percent; and miscellaneous manufactured articles, 4.8 percent from 4.7 percent. On the other hand, the annual hike in beverages and tobacco index slid to 7.8 percent from 7.9 percent; crude materials, inedible except fuels, 38.5 percent from 53.8 percent; chemicals, including animal and vegetable oils and fats, 7.4 percent from 9.8 percent; and manufactured goods classified chiefly by materials, 3.0 percent from 3.1 percent. The annual adjustment in machinery and transport equipment index remained at 1.2 percent.
  

• In Visayas, the annual change in the GWPI decelerated to 7.9 percent in July from 8.0 percent in June. This can be attributed to a slower annual increase noticed in the food index at 5.2 percent in July from 5.5 percent in June; beverages and tobacco, 6.9 percent from 7.0 percent; crude materials, inedible except fuels, 29.7 percent from 41.8 percent; and machinery and transport equipment, 5.8 percent from 7.3 percent. Meanwhile, higher annual rates were registered in the corresponding indexes of mineral fuels, lubricants and related materials and chemicals, including animal and vegetable oils and fats at 21.7 percent and 2.2 percent from 19.8 percent and 0.1 percent, respectively. The indexes of manufactured goods classified chiefly by materials and miscellaneous manufactured articles moved at their respective last month's rates of 4.2 percent and 2.7 percent.
  

• On the other hand, the annual growth of the GWPI in Mindanao picked up to 3.1 percent in July from 2.8 percent in June. This was effected by higher annual gains in the indexes of the following commodity groups: food, 1.7 percent from 1.3 percent; beverages and tobacco, 3.5 percent from 3.2 percent; mineral fuels, lubricants and related materials, 5.4 percent from 4.9 percent; chemicals, including animal and vegetable oils and fats, 4.1 percent from 3.1 percent; machinery and transport equipment, 3.0 percent from 2.9 percent; and miscellaneous manufactured articles, 5.0 percent from 4.7 percent. A slower annual rate was however seen in the index of manufactured goods classified chiefly by materials at 3.2 percent from 3.4 percent. The index for crude materials, inedible except fuels remained stable as it posted a zero growth from -0.1 percent.
  

• By Commodity Group, Month-on-Month

  The monthly change of the GWPI in the Philippines decreased to -0.5 percent in July from its June rate of -0.4 percent. The heavily weighted food index dropped to -0.3 percent in July from 0.3 percent in June. In addition, negative monthly rates were still seen in the indexes of crude materials, inedible except fuels (-5.6% from -5.7%); mineral fuels, lubricants and related materials (-0.8% from -0.5%); and chemicals, including animal and vegetable oils and fats (-1.0% from -3.2%). A slower rate of 0.1 percent was recorded in the index of manufactured goods classified chiefly by materials and miscellaneous manufactured articles from their respective last month's rates of 0.3 percent and 0.2 percent. There were no changes however in the indexes of beverages and tobacco and machinery and transport equipment as they had zero growth.
  

  • The decline in crude materials, inedible except fuels index in Luzon at -5.9 percent and in Visayas at -3.8 percent was due to the downward price adjustments in copra during the period. Hence, the group's national index was still negative at -5.6 percent from -5.7 percent. On the contrary, higher prices of charcoal pushed up the group's index in Mindanao by 0.1 percent.
    

  • The index for chemicals, including animal and vegetable oils and fats in Luzon went down by -1.4 percent as price reduction in coconut oil was noted during the reference period. Lower prices of selected washing compounds were also observed in the area. However, in Mindanao and Visayas, the group's indexes correspondingly rose to 1.0 percent and 0.1 percent due to higher prices of some fertilizers and other chemical products. The monthly change in the group's index in the Philippines fell by -1.0 percent from -3.2 percent.
    

  • The nationwide price reductions in LPG pushed down the index for mineral fuels, lubricants and related materials in four areas: Luzon, -0.9 percent; Visayas, -0.1 percent; Mindanao, -0.2 percent; and in the Philippines, -0.8 percent.

  • The food index in Luzon dropped to -0.5 percent from a growth of 0.5 percent in June as lower prices of some food items such as pork, selected fish species, fruits, vegetables and sugar were observed during the month. Downward adjustments in the prices of copra meal and dessicated coconut were also noted in the area. On the other hand, price uptick in some fruits, vegetables, beans, roots and tubers and eggs were seen in Mindanao. Thus, the group's index in the area grew by 1.0 percent from 0.3 percent. In Visayas, prices of food items generally remained stable. At the national level, the monthly movement in the group's index was negative at -0.3 percent from 0.3 percent.

  • Higher prices of plywood, flat bars, and other concrete products were noted in Luzon. Upward adjustment in the prices of some paper products, cotton yarn, plywood and G.I. pipes were likewise seen in Mindanao. In Visayas, prices of cotton thread and selected paper and paper products were on the upward trend. These factors raised the manufactured goods classified chiefly by materials index in the four areas by 0.1 percent.
    

  • A 0.2 percent growth in the miscellaneous manufactured articles index in Mindanao was brought about by price additions on selected clothing, furniture and fixtures in the area. This was however slower than the 0.3 percent growth last month. In Luzon, the group's index moved at its last month's rate of 0.1 percent as price hikes were noticed in some plumbing fixtures and selected undergarments during the month. In Visayas, prices of miscellaneous manufactured articles generally remained stable as its group's index had a zero growth. The group's national index inched up by 0.1 percent.
    

  • The beverages and tobacco index in Mindanao gained 0.3 percent due to price uptick in selected softdrinks in the area. On the other hand, lower prices of some cigarettes in Luzon effected a -0.1 percent drop in its group's index. The group's index in Visayas and at the national level posted a zero growth.
    

  • Downward adjustment in the prices of selected electrical apparatus contributed to the -0.1 percent decrease in the machinery and transport equipment index in Luzon. Meanwhile, no changes were observed in the prices of machinery and transport equipment in Visayas, Mindanao and in the Philippines during the month.

Source: National Statistics Office
Manila, Philippines

Page last revised: September 30, 2011