r - revised
p - preliminary

• Year-on-Year

  Year-on-year inflation rate of the General Wholesale Price Index (GWPI) advanced by 10.4 percent in May from 9.4 percent in April. Annual price increments were higher in crude materials inedible except fuels, 1.9 percent in May from -2.2 percent in April; mineral fuels, lubricants and related materials, 32.7 percent from 26.4 percent; chemicals, including animal and vegetable oils and fats, 7.5 percent from 7.2 percent; and miscellaneous manufactured articles, 5.5 percent from 5.1 percent. However, inflation rate for food slowed down to 5.0 percent from 6.1 percent; beverages and tobacco, 5.1 percent from 6.1 percent; manufactured goods classified chiefly by materials, 5.2 percent from 5.3 percent; and machinery and transport equipment, 3.6 percent from 3.8 percent.

  • Likewise, inflation rate in Luzon picked up to 11.1 percent in May from 10.1 percent in April. The annual rate of price increases in crude materials, inedible except fuels was higher at 1.4 percent from -3.4 percent; mineral fuels, lubricants and related materials, 33.7 percent from 27.7 percent; chemicals, including animal and vegetable oils and fats, 9.0 percent from 8.1 percent; and miscellaneous manufactured articles, 5.5 percent from 5.4 percent. On the other hand, lower annual price gains were correspondingly noticed in food items and beverages and tobacco at 5.6 percent and 4.5 percent from 6.4 percent and 5.6 percent, respectively. The rest of the commodity groups moved at their last month�s rates.
    

  • Inflation rate in Visayas eased to 8.9 percent in May from 9.5 percent in April mainly due to the 2.7 percentage points slowdown in the increase of prices of food items (5.2% from 7.9%). Annual price hikes in crude materials, inedible except fuels decelerated to 2.5 percent in May from 4.0 percent in April; chemicals, including animal and vegetable oils and fats, 3.3 percent from 5.4 percent; manufactured goods classified chiefly by materials, 6.3 percent from 8.1 percent; and machinery and transport equipment, 7.9 percent from 9.8 percent. Higher annual growth rates were however observed in the prices of beverages and tobacco at 10.6 percent from 10.3 percent; mineral fuels, lubricants and related materials, 29.7 percent from 21.1 percent; and miscellaneous manufactured articles, 5.7 percent from 5.4 percent.
    

  • Inflation rate in Mindanao went up by 0.9 percentage point to 4.8 percent in May from 3.9 percent in April. The annual rates in the prices of mineral fuels, lubricants and related materials grew to 21.6 percent from 10.6 percent; manufactured goods classified chiefly by materials, 6.2 percent from 6.1 percent; and machinery and transport equipment, 2.7 percent from 2.4 percent. Slower annual movements in the prices of the following commodity groups were noticed during the month: food items, 1.3 percent in May from 2.0 percent in April; beverages and tobacco, 5.5 percent from 5.6 percent; crude materials, inedible except fuels, 10.4 percent from 10.9 percent; chemicals, including animal and vegetable oils and fats, 1.6 percent from 2.3 percent; and miscellaneous manufactured articles, 2.3 percent from 2.4 percent.

• By Commodity Group, Month-on-Month

  The general level of wholesale prices at the national level slowed to 1.0 percent in May from 1.2 percent in April.

• Reductions in the prices of meat products, tubers and root crops, fish and selected fruits and vegetables in Luzon and Visayas correspondingly pushed down their food index by -0.2 percent and -2.3 percent. Meanwhile, the group's index in Mindanao grew by 0.6 percent due to upward adjustments in the prices of milled rice, unmilled corn, starch and unprocessed feeds. At the national level, the group's index declined by 0.3 percent.
  

• Prices of beverage and tobacco items in Luzon and Mindanao generally remained stable during the month as the group's index posted a zero growth. On the other hand, the 0.7 percent growth in the group's index in Visayas was brought about by the price increases in liquors, softdrinks and cigarette products. In the Philippines, the group's index moved up at a slower rate of 0.1 percent from 0.5 percent.
  

• Higher prices of copra, abaca, sand and gravel and pebbles pushed up the index for crude materials, inedible except fuels in the Philippines and Luzon by 2.4 percent and 2.8 percent, respectively. However, movement in the group's index in Mindanao was still at -0.4 percent due to the continuous downtrend in the prices of bamboo in the area. For three consecutive months, prices of crude materials, inedible except fuels generally remained stable in Visayas as its group's index still posted a zero growth.
  

• The general upward price adjustments in petroleum products, LPG and kerosene correspondingly raised the index for mineral fuels, lubricants and related materials in Visayas and Mindanao by 8.7 percent and 7.9 percent from 0.3 percent and 1.7 percent, respectively. Similarly, the group's index in Luzon and in the Philippines moved up by 4.0 percent and 4.5 percent, slower however than their last month's respective rates of 5.4 percent and 5.0 percent.
  

• The index for chemicals, including animal and vegetable oils and fats in Luzon went up by 0.2 percent and in the Visayas and Philippines, 0.1 percent. This was due to the increments in the prices of coconut oil, laundry soap, toilet soap and other chemical products. Prices of chemicals, including animal and vegetable oils and fats in Mindanao remained stable as the group's index registered zero growth during the month.
  

• Price hikes in tires, plywood, cement, flat and angle bars, G.I. sheets and pipes resulted to a 0.1 percent uptick in the group's index in Luzon and in the Philippines. Likewise, the index in Visayas and Mindanao rose by 0.7 percent and 0.1 percent, respectively brought about by the price additions in copper tubes, luggage and paper products.
  

• The index for machinery and transport equipment in the Philippines and Luzon gained 0.3 percent due to upward movements in the prices of storage battery, electrical wire and equipment. Likewise, higher prices of electrical appliances and electrical bulbs in Visayas resulted to a 0.1 percent growth in its group's index. Movements in the prices of machinery and transport equipment in Mindanao generally remained stable during the month.
  

• The miscellaneous manufactured articles index advanced by 0.4 percent in Luzon as prices of ready-made apparel, undergarments and textbooks were higher during the month. This was however slower than its last month's rate of 0.6 percent. Similarly, increased prices of selected textbooks and school supplies in Visayas effected a 1.1 percent increment in its group's index. In Mindanao, movement in the index of miscellaneous manufactured articles was pegged at 0.1 percent due to the increasing prices of wristwatch. This was however lower than its last month's rate of 0.4 percent. On the national level, the group's index moved at its April rate of 0.5 percent.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: November 11, 2006