October 2011

Year-on-Year Inflation Rates, All Items
October 2010 - October 2011

p - preliminary
r - revised

Year-on-Year

The annual growth of the General Wholesale Price Index (GWPI) at the national level went up at a slower pace of 8.5 percent in October from 9.2 percent in September. Negative annual rates were posted in the indexes of crude materials, inedible except fuel at -3.6 percent from 4.1 percent and chemicals, including animal and vegetable oils and fats, -0.1 percent from 1.5 percent. A slowdown was also noted in mineral fuels, lubricants and related materials index at 23.5 percent from 28.0 percent. Meanwhile, a higher annual increment was recorded in the food index at 7.0 percent from 5.2 percent. The annual changes in the indexes of beverages and tobacco, manufactured goods classified chiefly by materials, machinery and transport equipment and miscellaneous manufactured articles remained at their corresponding last month's rates of 6.6 percent, 3.3 percent, 1.5 percent and 4.4 percent.

• The annual movement of the GWPI in Luzon eased to 9.6 percent in October from 10.5 percent in September as declines were seen in crude materials, inedible except fuels index at -3.7 percent from 4.8 percent and chemicals, including animal and vegetable oils and fats, -1.1 percent from 0.8 percent. Likewise, lower annual add-ons were registered in the indexes of mineral fuels, lubricants and related materials and miscellaneous manufactured articles at 25.2 percent and 4.7 percent from their respective previous month's annual rates of 30.2 percent and 4.8 percent. On the other hand, a higher annual growth was noticed in the food index at 8.6 percent from 6.6 percent. The annual adjustments of the following commodity groups remained at their last month's rates: beverages and tobacco index (7.2%); manufactured goods classified chiefly by materials index (3.2%); and machinery and transport equipment index (1.0%).
  

• In the same way, the annual increase in the wholesale prices of commodities in Visayas decelerated to 3.4 percent in October from 4.2 percent in September. The annual rate of the food index further decreased to -0.9 percent from -0.4 percent and crude materials, inedible except fuels index, -5.0 percent from -1.3 percent. Slower annual gains were also noted in the index of mineral fuels, lubricants and related materials at 16.2 percent from 19.3 percent; chemicals, including animal and vegetable oils and fats, 3.1 percent from 3.3 percent; and miscellaneous manufactured articles, 1.2 percent from 1.5 percent. The indexes of beverages and tobacco, manufactured goods classified chiefly by materials, and machinery and transport equipment correspondingly retained their last month's rates of 5.9 percent, 3.6 percent and 3.4 percent.
  

• However, the annual addition in the GWPI in Mindanao picked up to 3.7 percent in October from 3.1 percent in September. This can be attributed to the higher annual rates in the indexes of the following commodity groups: food, 3.3 percent in October from 1.9 percent in September; mineral fuels, lubricants and related materials, 4.5 percent from 4.3 percent; chemicals, including animal and vegetable oils and fats, 4.7 percent from 4.6 percent; and miscellaneous manufactured articles, 4.6 percent from 4.5 percent. The growths in the indexes of beverages and tobacco, crude materials, inedible except fuels, and machinery and transport equipment remained at 3.0 percent, 1.9 percent and 3.1 percent, respectively.
  

• By Commodity Group, Month-on-Month

  The monthly increment in the GWPI at the national level improved to 0.3 percent in October from 0.6 percent in September. It resulted from a decline in the crude materials, inedible except fuels index at -1.2 percent from 0.6 percent; mineral fuels, lubricants and related materials index, -1.1 percent from 1.5 percent; and chemicals, including animal and vegetable oils and fats index, -0.5 percent from -0.4 percent. The movement in the indexes of beverages and tobacco, manufactured goods classified chiefly by materials, machinery and transport equipment and miscellaneous manufactured articles remained stable during the period as they posted a zero growth during the month.
  

  • Reductions in the prices of copra in Luzon pushed down the crude materials, inedible except fuels index in the area by -1.4 percent and in the Philippines, -1.2 percent. In Visayas and Mindanao, the group's index had a zero growth.
    

  • The mineral fuels, lubricants and related materials index dropped by -1.3 percent in Luzon due to the roll backs in prices of gasoline, kerosene and diesel oil in the area along with the price decrease in crude oil. In Visayas, lower prices of petroleum products were also observed during the period, thus, a negative monthly rate of -0.2 percent was recorded in its group's index. On the other hand, upward movement in the prices of LPG in Mindanao raised its index by 0.1 percent. The group's national index fell by -1.1 percent from 1.5 percent.
    

  • The -0.6 percent drop in the chemicals, including animal and vegetable oils and fats index in Luzon was attributed to the downward adjustment in the price of coconut oil. The group's index in Visayas went down by -0.1 percent as lower prices of washing and cleaning compounds were seen during the period. In Mindanao, prices of chemicals, including animal and vegetable oils and fats remained stable as the group's index had a zero growth. At the national level, the group's index had a negative monthly change of -0.5 percent.

  • The food index in Luzon went up 2.4 percent from a 0.9 percent as price increases were noticed in chicken, selected fish species, fruits, vegetables and canned goods. Prices of some fruits, vegetables, roots and tubers and pork were also up in Mindanao. Thus, the group's index in the area advanced by 2.0 percent from 0.2 percent. However, lower prices of sugar, garlic, onions and some fish species in Visayas contributed a -0.3 percent decrease in the group's index. At the national level, the group's index gained 2.2 percent from 0.7 percent.

  • Price additions were recorded in cement and plywood in Luzon. Hence, the manufactured goods classified chiefly by materials index in the area grew by 0.1 percent, the same rate posted last month. In Visayas and in Mindanao, prices of manufactured goods classified chiefly by materials remained stable during the month.
    

  • The machinery and transport equipment in index in Mindanao moved up 0.1 percent in October. This was effected by the add-ons in the prices of selected electrical appliances in the area. Meanwhile, no changes were seen in the prices of machinery and transport equipment in Luzon and in Visayas. The monthly movement in the group's national index was zero.
    

  • The miscellaneous manufactured articles index in Mindanao went down by -0.1 percent as lower prices of selected office supplies were observed during the period in review. On the other hand, prices of miscellaneous manufactured articles in Luzon and in Visayas remained stable during the month.
    

  • The index of beverages and tobacco in the three areas had a zero growth during the month.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: December 29, 2011