Year-on-Year Inflation Rates, All Items
June 2011 - June 2012

p - pleminary
r - revised

Year-on-Year

• The year-on-year growth in the General Wholesale Price Index (GWPI) at the national level further eased to 0.1 percent in June from 0.3 percent in May. This was effected by the annual reductions in the following indices: crude materials, inedible except fuels (-26.9% from -29.6%); mineral fuels, lubricants and related materials (-4.0% from 1.2%); and chemicals, including animal and vegetable oils and fats (-2.9% from -5.7%). A slowdown in the annual increment was also noted in beverages and tobacco index at 1.8 percent from 2.0 percent; manufactured goods classified chiefly by materials index, 2.3 percent from 2.5 percent; and miscellaneous manufactured articles index, 1.8 percent from 2.0 percent. However, higher annual gain was posted in food index at 4.7 percent in June from 1.8 percent in May and in machinery and transport equipment index, 2.2 percent from 2.1 percent.
   

• A negative annual adjustment was observed in the wholesale prices of commodities in Luzon at -0.5 percent in June from 0.2 percent in May. It resulted from a decline in the mineral fuels, lubricants and related materials index at -3.9 percent in June from 1.3 percent in May; crude materials, inedible except fuels index, -29.2 percent from -31.3 percent; and chemicals, including animal and vegetable oils and fats index, -4.4 percent from -7.8 percent. Moreover, the annual increase in beverages and tobacco index improved to 1.6 percent from 2.0 percent; manufactured goods classified chiefly by materials index, 2.2 percent from 2.4 percent; and miscellaneous manufactured articles index, 1.9 percent from 2.0 percent. On the other hand, the annual rate in the food index advanced to 3.6 percent from 2.4 percent while that for machinery and transport equipment index remained at 2.7 percent.
   

• The annual change in the GWPI in Visayas further went down to -1.2 percent in June from -0.5 percent in May. This can be attributed to the annual decrease in the crude materials, inedible except fuels index at -12.3 percent in June from -21.3 percent in May; mineral fuels, lubricants and related materials index, -8.0 percent from 0.1 percent; and miscellaneous manufactured articles index, -0.1 percent. Slower annual hikes were likewise noted in the beverages and tobacco index at 1.2 percent from 1.8 percent and manufactured goods classified chiefly by materials index, 0.3 percent from 1.0 percent. On the other hand, the annual adjustment in the food index accelerated to 0.8 percent from -0.4 percent. The annual growth of the chemicals, including animal and vegetable oils and fats index was still at its last month's rate of 1.8 percent while that for machinery and transport equipment index was zero.
   

• On the contrary, the annual movement in the GWPI in Mindanao picked up 1.7 percent in June from 1.2 percent in May. All the commodity groups recorded upward annual adjustments during the month except in crude materials, inedible except fuels and mineral fuels, lubricants and related materials indices which correspondingly posted negative annual rates of -1.9 percent and -0.9 percent.
   

• By Commodity Group, Month-on-Month

  On a monthly basis, a negative monthly adjustment was observed in the wholesale prices at the national level at -0.5 percent in June from -1.5 percent in May. Monthly decreases were still noted in the indices of the following commodity groups: crude materials, inedible except fuels (-2.0% from -8.0%); mineral fuels, lubricants and related materials (-5.6% from -4.3%) and chemicals, including animal and vegetable oils and fats (-0.3% from -1.2%). A slower monthly growth was also registered in machinery and transport equipment index at 0.1 percent from 1.5 percent. Meanwhile, the heavily-weighted food index jumped by 3.8 percentage points to 3.1 percent in June from -0.7 percent in May. From zero growth, the indices of beverages and tobacco and miscellaneous manufactured articles inched up 0.1 percent. The manufactured goods classified chiefly by materials index moved at its last month's rate of 0.1 percent.
   

  • Rollbacks in the prices of petroleum products pushed down the mineral fuels, lubricants and related materials index in Luzon and Visayas by -5.8 percent; Mindanao, -0.9 percent; and in the Philippines, -5.6 percent.
     

  • The crude materials, inedible except fuels index in Luzon declined by -2.5 percent due to downward adjustments in the prices of copra. The trend was however different in Visayas as higher prices of copra were noticed during the month. Thus, the group's index in the area went up 1.6 percent. In Mindanao, the group's index had a zero growth as reductions in the prices of bamboo were offsetted by the increments in the prices of charcoal. These mixed price trends resulted to -2.0 percent decrease in the group's national index.
     

  • Lower prices of coconut oil and selected cleaning compounds pulled down the chemicals including animal and vegetable oils and fats index in Luzon by -0.5 percent. Meanwhile, add-ons in the prices of washing compounds and some toilet preparations in Visayas effected a 0.2 percent growth in its index. Some industrial chemicals, fertilizers, paints, cosmetic preparations and vulcanizing cement were priced higher in Mindanao, thereby resulting to a 0.5 percent growth in its group's index. At the national level, the index went down by -0.3 percent.
     

  • Upward adjustments in some food items like pork, sugar, onions, selected fruits and vegetables, coffee, some spices and condiments pushed up the food index in Luzon by 1.7 percent; Visayas, 0.2 percent; Mindanao, 1.5 percent; and in the Philippines, 3.1 percent.
     

  • The machinery and transport equipment index in Mindanao rose 0.3 percent. The uptrend was attributed to the price hikes in selected agricultural machineries and electrical appliances during the period.The monthly rate in the group's index in Luzon inched up 0.1 percent as higher prices of some transport equipment were noted in June. On the average, prices of machinery and transport equipment items in Visayas were stable as the group's index had a zero growth. The index in the Philippines increased 0.1 percent.
     

  • A 0.6 percent rise in the beverages and tobacco index in Mindanao was due to price additions in some brewery products. In Visayas, price gains in liquors raised its group's index by 0.1 percent. Prices of beverages and tobacco items in Luzon however generally remained stable during the month as the group's index posted a zero growth. The group's national index gained 0.1 percent.
     

  • In Mindanao, price upticks were noticed in selected furniture, undergarments, footwear and photographic instruments and some brands of watches during the reference month. Hence, the miscellaneous manufactured articles index in the area grew 1.0 percent. The 0.2 percent growth in the group's index in Visayas was brought about by the increments in the prices of selected textbooks and office supplies. In Luzon, a zero growth was registered in the group's index. These movements effected a 0.1 percent growth in the group's national index.
     

  • The monthly change in the index of manufactured goods classified chiefly by materials index in Mindanao at 1.1 percent was due to price additions in plywood, hollow blocks, synthetic leather products, woven fabrics, cotton yarn, cotton thread, and some structural metal and aluminum products. Likewise, movement in the groupsÒ index in Visayas at 0.1 percent was caused by higher prices of rubber tubes and tiles during the month. In Luzon, upward price adjustments in rubber tires, cement and some concrete products were offsetted by the price decreases in fabricated wire products, thereby resulting to a zero growth in its group's index. The monthly increase in the group's index at the national level remained at 0.1 percent.

   

   

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  Source: National Statistics Office
  Manila, Philippines