May 2005

r - revised
 

• Year-on-Year

  Year-on-year inflation rate based on the General Wholesale Price Index (GWPI) slightly slowed down to 11.0 percent in May from 11.1 percent in April. Inflation for crude materials, inedible except fuels still posted a negative rate of 0.3 percent in May from -3.3 percent in April. Moreover, inflation rates for mineral fuels, lubricants and related materials and miscellaneous manufactured articles correspondingly decelerated to 31.6 percent and 5.0 percent from 39.0 percent and 5.1 percent. On the other hand, higher annual rates were noted in the prices of food items, 9.0 percent from 6.9 percent; beverages and tobacco; 5.7 percent from 5.1 percent; and machinery and transport equipment, 4.9 percent from 4.5 percent. Inflation for chemicals, including animal and vegetable oils and fats and manufactured goods classified chiefly by materials remained at 7.0 percent and 8.0 percent, respectively.

  • Similarly, inflation rate in Luzon went up at slower rate of 12.0 percent in May from 12.2 percent in April. Inflation for crude materials, inedible except fuels was -1.5 percent from -4.7 percent. In addition, inflation of mineral fuels, lubricants and related materials and manufactured goods classified chiefly by materials moved at a slower rate of 31.7 percent and 8.7 percent from 40.2 percent and 8.8 percent, respectively. Inflation for food rose to 10.2 percent from 7.6 percent; beverages and tobacco, 6.1 percent from 5.4 percent; chemicals, including animal and vegetable oils and fats, 6.8 percent from 6.6 percent; and machinery and transport equipment, 5.9 percent from 5.5 percent. Movement in the inflation rate of miscellaneous manufactured articles was still at 5.1 percent. 
     

  • Inflation rate in Visayas advanced to 6.2 percent in May from 5.7 percent in April. Higher annual increases were observed in the prices of beverages and tobacco, 0.8 percent in May from 0.4 percent in April; crude materials, inedible except fuels, 2.1 percent from 0.7 percent; mineral fuels, lubricants and related materials, 35.2 percent from 33.0 percent; manufactured goods classified chiefly by materials, 3.5 percent from 1.9 percent; machinery and transport equipment, 2.2 percent from 0.1 percent; and miscellaneous manufactured articles, 1.5 percent from 0.5 percent. On the other hand, annual increments in the prices of food items and chemicals, including animal and vegetable oils and fats improved to 3.1 percent and 4.3 percent from 3.7 percent and 4.9 percent, respectively. 
     

  • Inflation rate in Mindanao slightly eased to 8.1 percent in May from 8.2 percent in April. Annual gains in the prices of beverages and tobacco was slower at 7.5 percent in May from 8.2 percent in April; crude materials, inedible except fuels, 22.2 percent from 22.9 percent; mineral fuels, lubricants and related materials, 26.4 percent from 29.3 percent; chemicals, including animal and vegetable oils and fats, 10.9 percent from 11.8 percent; machinery and transport equipment, 1.6 percent from 1.7 percent; and miscellaneous manufactured articles, 5.7 percent from 8.4 percent. Higher annual rates of price additions were correspondingly registered in food and manufactured goods classified chiefly by materials at 7.1 percent and 6.0 percent from 5.8 percent and 5.4 percent, respectively.

• By Commodity Group, Month-on- Month

  The general level of wholesale prices moved up by 0.8 percent compared to the 1.1 percent in April.

  • Upward adjustments in the prices of selected vegetables and chocolate products in all areas pushed up the food index in the Philippines by 2.3 percent; Luzon, 2.6 percent; Visayas, 0.2 percent; and Mindanao, 1.3 percent. 
     

  • Prices of softdrinks were up in Visayas and Mindanao. Similarly, higher price of beer in Luzon was also noted. Thus, the index for beverages and tobacco accelerated in the Philippines by 0.9 percent; Luzon, 1.1 percent; Visayas, 0.4 percent and Mindanao, 0.1 percent. 
     

  • Increment in the price of pulpwood caused the group�s index of crude materials, inedible except fuels in Visayas and Mindanao to grow by 1.4 percent and 0.1 percent, respectively. Meanwhile, the group�s index in Luzon declined by 2.0 percent due to the reductions in the prices of copra, sand and gravel. At the national level, the group�s index went down by 1.7 percent. 
     

  • Add-ons in the prices of petroleum products and LPG raised the index of mineral fuels, lubricants and related materials in Visayas by 1.7 percent. On the contrary, prices of gasoline decreased in Luzon and Mindanao. This pulled down the group�s index in the Philippines and Luzon by -0.1 percent and in Mindanao, -1.8 percent. 
     

  • Higher prices of fertilizer and selected medicines caused the index of chemicals, including animal and vegetable oils and fats in Visayas and Mindanao to grow by 2.1 percent and 0.6 percent, respectively. Downward movements in the prices of coconut oil and paints however, resulted to the -0.6 percent drop in its group�s index for Luzon and -0.1 percent in the Philippines. 
     

  • Increases in the prices of plywood, cement, paper products and G.I. sheets 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; Visayas, 2.3 percent; and Philippines, 0.2 percent. 
     

  • Reductions in the prices of electrical apparatus brought down the machinery and transport equipment index in Mindanao by 0.3 percent. On the other hand, price hikes of insulated electrical wires and appliances in Luzon and Visayas correspondingly raised their group�s index by 0.3 percent and 2.2 percent. Overall, the index went up by 0.4 percent. 
     

  • The miscellaneous manufactured articles index slightly climbed up by 0.1 percent in Luzon due to the upward adjustments in sanitary fixtures and photofilm. Likewise, the group�s index in Visayas inched up by 1.0 percent as prices of undergarments, newspaper and photofilm were higher during the month. The slight increment of 0.1 percent in its group�s index in Mindanao was brought about by the price additions in footwear and office supplies. All these factors contributed to the rise in the group�s national index by 0.1 percent.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: September 9, 2005