June 2010

Year-on-Year Inflation Rates, All Items
June 2009 - June 2010

p - pleminary
r - revised

Year-on-Year

• The annual rate of price increments based on the General Wholesale Price Index (GWPI) at the national level further decelerated to 3.9 percent in June from 7.2 percent in May. An annual price decline was still posted in miscellaneous manufactured articles index at -0.4 percent from -0.5 percent. In addition, slower annual price increases were correspondingly recorded in food and mineral fuels, lubricants and related materials index at 4.7 percent and 9.1 percent from 5.8 percent and 26.6 percent, respectively. On the other hand, a higher annual growth rate was noted in the index of beverages and tobacco at 1.7 percent from 1.4 percent; crude materials, inedible except fuels, 10.1 percent from 2.9 percent; chemicals, including animal and vegetable oils and fats, 1.1 percent from 0.6 percent; and manufactured goods classified chiefly by materials, 1.1 percent from 0.9 percent. For three consecutive months, the annual rate for machinery and transport equipment index remained at 0.4 percent.
  

• The annual gain in the wholesale prices of commodities in Luzon also eased to 4.3 percent in June from 8.1 percent in May. The annual growth of miscellaneous manufactured articles index remained at -0.7 percent. Slowdowns were also registered in the corresponding annual price increases in food and mineral fuels, lubricants and related materials index at 5.1 percent and 9.2 percent from their respective last month's rates of 6.0 percent and 28.7 percent. However, higher annual growth rates were observed in the indexes of the following commodity groups: beverages and tobacco, 2.3 percent from 2.2 percent; crude materials, inedible except fuels, 11.2 percent from 2.8 percent; chemicals, including animal and vegetable oils and fats, 1.2 percent from 0.5 percent; manufactured goods classified chiefly by materials, 1.0 percent from 0.9 percent; and machinery and transport equipment, 0.8 percent from 0.6 percent.
  

• Similarly, the annual price adjustment in the GWPI in Visayas slid to 1.8 percent in June from 2.8 percent in May. An annual price decline of -1.6 percent was still seen in beverages and tobacco index from -3.7 percent. Moreover, a slower annual price increment was correspondingly recorded in food index at 1.8 percent from 2.8 percent and mineral fuels, lubricants and related materials index at 7.4 percent from 13.3 percent. On the contrary, the annual rate of price gain in crude materials, inedible except fuels index increased to 9.4 percent from 6.4 percent; chemicals, including animal and vegetable oils and fats, 1.1 percent from 1.0 percent; and manufactured goods classified chiefly by materials, 0.6 percent from 0.2 percent. The annual price decreases for machinery and transport equipment and miscellaneous manufactured articles indexes were at their respective previous month's rates of -1.0 percent and -1.2 percent.
  

• In Mindanao, the annual growth of the wholesale prices also decelerated to 3.5 percent in June from 4.4 percent in May as the annual rate in the index of crude materials, inedible except fuels further dropped to -6.0 percent from -0.7 percent. Negative annual rates were also noted correspondingly in the indexes of chemicals, including animal and vegetable oils and fats and machinery and transport equipment at -0.3 percent and -0.1 percent. Likewise, slower annual upward price adjustments were posted in the indexes of the following commodity groups: food (5.5% from 6.6%); mineral fuels, lubricants and related materials (9.9% percent from 11.3%); and manufactured goods classified chiefly by materials (1.1% from 1.5%). Meanwhile, the corresponding annual price additions in beverages and tobacco and miscellaneous manufactured articles index were higher at 1.1 percent and 2.5 percent from 0.9 percent and 2.4 percent, respectively.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, wholesale prices at the national level continued to post a negative rate at -0.2 percent in June from -0.5 percent in May. Downward price movements were seen in the indexes of mineral fuels, lubricants and related materials at -2.0 percent from -2.7 percent and machinery and transport equipment, -0.1 percent from 0.1 percent. Moreover, a slower price increment was recorded in the index of manufactured goods classified chiefly by materials at 0.2 percent from 0.4 percent. On the other hand, a higher price hike was noticed in the food and beverages and tobacco index at 0.2 percent from zero growth; crude materials, inedible except fuels, 3.4 percent from 1.1 percent; chemicals, including animal and vegetable oils and fats, 0.3 percent from 0.1 percent; and miscellaneous manufactured articles, 0.1 percent from -0.1 percent.
  

  • Price movements in the mineral fuels, lubricants and related materials index at -2.4 percent in Luzon and -0.5 percent in Mindanao were effected primarily by the price reductions in petroleum products like gasoline, kerosene, LPG, diesel and fuel oil during the month. Similarly, a lower price of crude petroleum was noted in Luzon. On the contrary, price hikes on these petroleum products raised the group's index in Visayas by 2.6 percent. At the national level, movement in the group's index was still negative at -2.0 percent from -2.7 percent.
    

  • Price increments in selected circuit breaker, switch and convenient outlets caused a 0.1 percent increase in the machinery and transport equipment index in Luzon, the same rate posted in May. On the other hand, lower prices of some storage batteries, electrical lamps and fixtures were seen in Mindanao, hence its group's index dropped by -0.8 percent. Meanwhile, on the average, no movement was observed in the prices of machinery and transport equipment in Visayas as its index had a zero growth. This mixed price trends pulled down the group's index in the Philippines by -0.1 percent.
    

  • The monthly price change in the miscellaneous manufactured articles index in Mindanao at 1.0 percent was brought about by the upward adjustments in the prices of selected footwear, socks, uPVC water pipes, and school supplies in the area. On the other hand, the group's index in Luzon and Visayas remained stable during the month as they have a zero growth. The group's index at the national level grew by 0.1 percent.
    

  • Uptick in the prices of cement, lumber, round bars, and G.I. sheets resulted to a 0.2 percent rise in manufactured goods classified chiefly by materials index in Luzon. Meanwhile, the group's index in Visayas and Mindanao registered a zero growth during the period. The group's national index moved up to 0.2 percent.
    

  • A 0.4 percent growth in the food index was recorded in Luzon due to the increases in the prices of selected food items like chicken, fish, sugar, cooking oil, fruits and vegetables. The price increment in copra meal also contributed to the upward trend of the group's index in the area. Higher prices of some variety of fruits in Visayas likewise raised its group's index by 0.1 percent. On the contrary, lower prices of some fruits and vegetables were noted in Mindanao, thus a decline of -0.5 percent was seen in its group's index. These factors pushed up the group's index in the Philippines by 0.2 percent.
    

  • The beverages and tobacco index in Visayas and Mindanao correspondingly advanced by 2.1 percent and 0.2 percent as price additions were observed in selected softdrinks in the two areas. Prices of some liquors in Visayas were also on the uptrend during the month. On the other hand, prices of beverages and tobacco in Luzon remained stable as its index had a zero growth. From zero growth, the national index picked up to 0.2 percent.
    

  • Upward adjustments in the prices of coconut oil and selected paints and washing compounds pushed up the chemicals, including animal and vegetable oils and fats index in Luzon by 0.5 percent. Likewise, the group's index in Visayas inched up by 0.1 percent as prices of selected paints and related compounds were higher during the period in review. However, a -0.5 percent decline in the group's index in Mindanao was effected by the price reductions in some vitamins, fertilizers and other chemical products. The group's index in the Philippines rose by 0.3 percent.
    

  • Prices of copra in Luzon and Visayas were on the uptrend. In addition, price hike in gravel was noted in Luzon. Thus, a 3.6 percent growth was posted in the crude materials, inedible except fuels index in Luzon and in Visayas, 2.9 percent. Meanwhile, a -0.4 percent drop in the group's index in Mindanao was brought about by lower prices of bamboo and charcoal. At the national level, the group's index climbed to 3.4 percent from 1.1 percent.
    

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    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.