General Wholesale Price Index (1998=100) : April 2007
Year-on-Year Inflation Rates, All Items
April 2006 - April 2007
|April||2.2 p||1.9 p||4.8||1.8|
|March||2.4 p||2.2 p||4.0||2.6|
|September||6.2 r||6.2||8.3||3.9 r|
p - pleminary
r - revised
Year-on-year inflation rate of the General Wholesale Price Index (GWPI) went up at a slower pace of 2.2 percent in April from 2.4 percent in March. This can be attributed to the continuous drop in the annual rates of mineral fuels, lubricants and related materials index at -5.3 percent in April from -3.5 percent in March. In addition, annual price increases for beverages and tobacco slowed down to 1.3 percent from 1.6 percent; chemicals, including animal and vegetable oils and fats, 5.4 percent from 6.0 percent; manufactured goods classified chiefly by materials, 5.9 percent from 6.1 percent; and miscellaneous manufactured articles, 1.1 percent from 1.4 percent. On the other hand, annual inflation for food items and crude materials, inedible except fuels were correspondingly higher at 4.6 percent and 18.8 percent from 3.6 percent and 17.1 percent, respectively. For three consecutive months, inflation for machinery and transport equipment was still at 1.5 percent.
Likewise, annual inflation rate in Luzon eased to 1.9 percent in April from 2.2 percent in March. This was due to the slower annual increases in the prices of beverages and tobacco at 1.2 percent from 1.3 percent; chemicals, including animal and vegetable oils and fats, 6.4 percent from 7.0 percent; and miscellaneous manufactured articles, 0.9 percent from 1.3 percent. Annual price adjustment in mineral fuels, lubricants and related materials registered at -5.5 percent from -3.5 percent also contributed to the downtrend. However, higher annual growth rates were seen in the prices of the following commodity groups: food items, 4.5 percent from 3.6 percent; crude materials, inedible except fuels, 20.2 percent from 18.8 percent; and manufactured goods classified chiefly by materials, 5.9 percent from 5.6 percent. Inflation for machinery and transport equipment was at its last month? rate of 0.9 percent.
Inflation rate in Visayas rose to 4.8 percent in April from 4.0 percent in March. Higher growth rates were seen in the prices of food items at 6.0 percent from 5.5 percent; beverages and tobacco, 2.3 percent from 1.0 percent; crude materials, inedible except fuels, 16.0 percent from 10.1 percent; and mineral fuels, lubricants and related materials, 4.5 percent from 1.9 percent. Meanwhile, slower annual movement in the prices of chemicals, including animal and vegetable oils and fats was observed at 1.7 percent from 1.8 percent. Annual inflation for manufactured goods classified chiefly by materials, machinery and transport equipment and miscellaneous manufactured articles remained at their corresponding previous month? rates of 4.9 percent, 4.3 percent and 1.1 percent.
Inflation rate in Mindanao decelerated by 0.8 percentage point to 1.8 percent in April from 2.6 percent in March. Sluggish annual inflation rates were recorded in the prices of beverages and tobacco, 1.3 percent from 4.8 percent; chemicals, including animal 2.1 percent from 2.7 percent; manufactured goods classified chiefly by material, 7.0 percent from 10.8 percent; machinery and transport equipment, 2.7 percent from 3.3 percent; and miscellaneous manufactured articles, 2.5 percent from 2.8 percent. In addition, negative rates of -1.5 percent and -12.5 percent in the index of crude, materials, inedible except fuels and mineral fuels, lubricants and related materials correspondingly contributed to the downtrend. Meanwhile, inflation rate for food item was higher at 3.4 percent from 2.6 percent.
By Commodity Group, Month-on-Month
The general level of wholesale prices at the national level increased to 0.9 percent in April from 0.8 percent in March.
Increments in the prices of tubers and root crops, selected fish species fruits and vegetables in Visayas and Mindanao pushed up their corresponding food index by 3.2 percent and 0.6 percent. Meanwhile, the group? index in Luzon dropped by -0.1 percent due to downward adjustments in the prices of eggs, onions, garlic, desiccated coconut, beans and peas and other vegetables. At the national level, the group? index moved up by 0.5 percent.
The 1.5 percent growth in the beverages and tobacco index in Visayas was brought about by the price increases of cigarette products in the area. Meanwhile, prices of beverage and tobacco items in Luzon and Mindanao generally remained stable during the month as their group? index posted a zero growth. This caused the national index to move up at a slower rate of 0.2 percent from 0.3 percent.
Upward movements in the prices of copra in Luzon and Visayas along with the additions in the prices of gravel and sand raised the index for crude materials, inedible except fuels in the Philippines and Luzon by 2.7 percent and in Visayas by 5.3 percent. However, lower price of bamboo pulled down its group? index in Mindanao by -2.5 percent.
Higher prices of crude petroleum oil, petroleum products, gasoline, kerosene and LPG were noticed in Luzon. Thus, the index for mineral fuels, lubricants and related materials in the area and in the Philippines rose to 3.2 percent and 3.0 percent, respectively. Similarly, additions in the prices of selected petroleum products in Visayas effected a 2.3 percent increase. Meanwhile, the group? index in Mindanao had a zero growth in April from -9.4 percent in March.
The index for chemicals, including animal and vegetable oils and fats in the Philippines and in Luzon correspondingly went up by 0.7 percent and 0.8 percent, respectively. This was brought about by the add-ons in the prices of coconut oil, fertilizer, paints and other chemical products. Prices of chemicals, including animal and vegetable oils and fats in Visayas and Mindanao remained stable as the group? index registered a zero growth during the month.
Price hikes in cement, flat and angle bars and concrete hollow blocks effected a 0.4 percent uptick in the group? index in Luzon and in the Philippines, the same rate registered last month. In Mindanao, movement in the index of manufactured good classified chiefly by materials was pegged at 0.5 percent due to the increases in the prices of rubber tires, woven fiber and yarn in the area. This was however lower than its last month? rate of 0.9 percent. Movements in the prices of manufactured goods classified chiefly by materials in Visayas generally remained stable during the month.
Source: National Statistics Office
Page last revised: August 24, 2007