June 2005

r - revised

• Year-on-Year

  Year-on-year inflation rate of the General Wholesale Price Index (GWPI) went up at a slower rate of 10.2 percent in June from 10.6 percent in May. Annual price adjustment for crude materials, inedible except fuels still posted a negative rate of 1.4 percent in June from -0.3 percent in May. Moreover, annual price increases for food items eased to 4.9 percent from 7.3 percent; chemicals, including animal and vegetable oils and fats; 10.8 percent from 10.9 percent, manufactured goods classified chiefly by materials, 7.8 percent from 8.0 percent; machinery and transport equipment, 4.8 percent from 4.9 percent; and miscellaneous manufactured articles, 4.8 percent from 5.0 percent. Inflation for mineral fuels, lubricants and related materials rose to 33.8 percent from 30.9 percent while that for beverages and tobacco remained at 5.7 percent.

  • Similarly, inflation rate in Luzon decelerated to 11.2 percent in June from 11.5 percent in May as prices of crude materials, inedible except fuels continued to decline at a rate of -2.3 percent from -1.5 percent. In addition, slower annual price movements were noted in the following commodity groups: food items, 5.5 percent from 8.0 percent; manufactured goods classified chiefly by materials; 8.6 percent from 8.7 percent; machinery and transport equipment, 5.8 percent from 5.9 percent; and miscellaneous manufactured articles, 5.0 percent from 5.1 percent. Meanwhile, inflation for beverages and tobacco and mineral fuels, lubricants and related materials correspondingly grew to 6.2 percent and 34.1 percent from 6.1 percent and 30.9 percent. Inflation rate of chemicals, including animal and vegetable oils and fats was still at 11.9 percent.
    

  • Inflation rate in Visayas slowed down to 5.3 percent in June from 6.1 percent in May mainly due to the 6.9 percentage points reduction in the inflation of mineral fuels, lubricants and related materials (28% from 34.9%). Annual gains in the prices of food items was slower at 2.5 percent in June from 3.1 percent in May; chemicals, including animal and vegetable oils and fats, 3.3 percent from 4.3 percent; and manufactured goods classified chiefly by materials, 2.9 percent from 3.5 percent. On the other hand, annual increments in the prices of beverages and tobacco accelerated to 1.2 percent from 0.8 percent; crude materials, inedible except fuels; 2.2 percent from 2.1 percent; machinery and transport equipment, 2.7 percent from 2.2 percent; and miscellaneous manufactured articles, 2.3 percent from 1.5 percent.
    

  • Inflation rate in Mindanao was slower at 7.2 percent in June compared to 8.1 percent growth in May. Inflation of food slowed to 3.5 percent in June from 7.1 percent in May; crude materials, inedible except fuels, 10.5 percent from 22.2 percent; manufactured goods classified chiefly by materials, 5.2 percent from 6.0 percent; machinery and transport equipment, 0.8 percent from 1.6 percent; and miscellaneous manufactured articles, 4.5 percent from 5.7 percent. Higher annual rates were correspondingly registered in mineral fuels, lubricants and related materials and chemicals, including animal and vegetable oils and fats at 37.3 percent and 11.5 percent from 26.4 percent and 10.9 percent, respectively. Inflation of beverages and tobacco was still posted at 7.5 percent.

• By Commodity Group, Month-on-Month

  The general level of wholesale prices moved up by 0.8 percent compared to 0.2 percent in May.

  • Higher prices of milk, fish, cereal preparations and selected vegetables in Luzon and Visayas slightly pushed up their food indices in these areas by only 0.1 percent. Meanwhile, the mixed trends in prices of food items in Mindanao resulted to a zero growth in its group's index. Overall, the national index posted a zero growth from 0.7 percent a month ago.
    

  • Add-ons in the prices of cigarettes brought about a 0.1 percent growth in the index for beverages and tobacco at the national level and in Luzon and by 0.4 percent in Visayas.
    

  • The crude materials, inedible except fuels index went down by 0.6 percent in Luzon due to lower prices of copra and abaca. Likewise, the group's index in Mindanao decreased by 0.1 percent as reduction in the price of charcoal was recorded during the month. All these factors contributed to the 0.5 percent drop in the group's national index. On the other hand, the slight growth of 0.1 percent in its group's index in Visayas was brought about by the price additions in pebbles.
    

  • Upward adjustments in the prices of diesel oil raised the index of mineral fuels, lubricants and related materials in the Philippines and Luzon by 3.9 percent; Visayas, 1.3 percent; and Mindanao, 8.7 percent.
    

  • Price hikes in fertilizer and paints resulted to a growth in the index of chemicals, including animal and vegetable oils and fats of 0.2 percent in the Philippines; 0.1 percent in Luzon; 0.3 percent in Visayas; and 0.8 percent in Mindanao.
    

  • Price additions in cement and paper products noted in Luzon and Visayas slightly triggered a 0.1 percent uptick in the group's index for manufactured goods classified chiefly by materials in Luzon and Philippines and 0.4 percent in Visayas. Increments in the prices of school supplies, cement and glass and glass products were recorded in Mindanao. However, a 0.1 percent drop in its group's index was recorded due to decreases in the prices of lumber, plywood and wire products in the area.
    

  • Gains in the prices of electrical wires caused the index for machinery and transport equipment to climb by 0.3 percent in the Philippines and Luzon, 0.4 percent in Visayas and 0.2 percent in Mindanao.
    

  • Higher prices of selected ready-made apparel, undergarments and office supplies effected a 0.7 percent increase in the index for miscellaneous manufactured articles in Visayas and 1.2 percent in Mindanao. Meanwhile, prices of miscellaneous manufactured articles in Luzon generally remained stable as its index registered zero growth during the month. Overall, the group's index grew by 0.2 percent.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: October 11, 2005