April 2008

Year-on-Year Inflation Rates, All Items
April 2007 - April 2008

p - pleminary
r - revised

Year-on-Year

NOTE :

• The country's annual growth rate of the General Wholesale Price Index (GWPI) picked up to 11.4 percent in April from 10.7 percent in March. This can be attributed to higher annual rates observed in food items (8.5% from 7.4%); beverages and tobacco (4.8% from 1.5%); crude materials, inedible except fuels (25.9% from 24.8%); and mineral fuels, lubricants and related materials (29.6% from 28.6%). However, the annual rates for the following commodity groups slowed down during the month: chemicals, including animal and vegetable oils and fats, 9.5 percent from 10.3 percent; manufactured goods classified chiefly by materials, 3.2 percent from 3.3 percent; and machinery and transport equipment, 3.7 percent from 3.8 percent. Meanwhile, for three consecutive months, the annual growth rate for miscellaneous manufactured articles remained at 2.8 percent.
  

• The annual growth rate of wholesale prices in Luzon went up to 12.2 percent in April from 11.2 percent in March. Higher annual price movement was recorded in the food index at 8.1 percent in April from 6.1 percent in March; beverages and tobacco, 4.8 percent from 1.0 percent; crude materials, inedible except fuels, 27.4 percent from 26.1 percent; and mineral fuels, lubricants and related materials, 31.5 percent from 30.6 percent. On the other hand, annual growth rates were slower in the indexes of the following commodity groups: chemicals, including animal and vegetable oils and fats, 9.6 percent from 11.1 percent; manufactured goods classified chiefly by materials, 2.2 percent from 2.5 percent; and machinery and transport equipment, 4.2 percent from 4.3 percent. The annual growth rate for miscellaneous manufactured articles moved at its March rate of 2.7 percent.
  

• On the contrary, the annual price change of the GWPI in the Visayas eased to 9.0 percent in April from 9.4 percent in March due to the deceleration in the corresponding annual growth rates of food and crude materials, inedible except fuels at 5.8 percent and 20.1 percent from 8.8 percent and 22.5 percent, respectively. Meanwhile, annual price hikes were higher in beverages and tobacco at 7.3 percent from 4.1 percent; mineral fuels, lubricants and related materials, 20.5 percent from 19.8 percent; chemicals, including animal and vegetable oils and fats, 12.7 percent from 10.0 percent; and manufactured goods classified chiefly by materials, 11.8 percent from 8.7 percent. The annual growth rate for machinery and transport equipment and miscellaneous manufactured articles were correspondingly posted at 1.1 percent and 5.8 percent, same rates last month.
  

• The annual price increase of the GWPI in Mindanao rose to 7.9 percent in April from 7.8 percent in March. Higher increments were recorded in the prices of the following commodity groups: food items, 14.5 percent from 14.2 percent; crude materials, inedible except fuels, 7.3 percent from 3.8 percent; and mineral fuels, lubricants and related materials, 6.6 percent from 6.5 percent. However, slowdowns in the annual price gains were noticed in manufactured goods, classified chiefly by materials at 4.6 percent in April from 5.1 percent in March; machinery and transport equipment, 2.7 percent from 2.8 percent; and miscellaneous manufactured articles, 1.9 percent from 2.0 percent. Annual movements in the indexes of beverages and tobacco and chemicals, including animal and vegetable oils and fats were at their respective last month's rates of 2.3 percent and 4.8 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, wholesale prices at the national level increased at a slower pace of 1.9 percent in April from 2.8 percent in March.
  

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  • Upward price adjustments in rice, pork, beef, meat products, milk, bread, biscuits and other bakery products and selected fruits and vegetables along with higher prices of animal feeds raised the food index in all areas: Philippines, 1.5 percent; Luzon, 1.8 percent; Visayas, 0.4 percent; and Mindanao, 0.9 percent. These were however, slower than their respective previous month's rates of 3.5 percent, 3.0 percent, 0.4 percent and 9.0 percent.
    

  • Add-ons in the prices of liquors resulted to the 4.6 percent growth rate in the beverages and tobacco index in Visayas. Likewise, prices of cigarettes and liquors generally went up in Luzon thereby pushing the group's index in the area up by 3.8 percent. Meanwhile, prices of beverages and tobacco items in Mindanao appeared stable as its group's index registered a zero growth during the month. At the national level, the group's index climbed by 3.4 percent from 0.3 percent.
    

  • The index for crude materials, inedible except fuels grew by 0.8 percent in Mindanao due to the increments in the prices of charcoal. Higher prices of copra, abaca, gravel, sand, stone and pebbles effected the 3.6 percent increase in the index of crude materials, inedible except fuels in the Philippines; 3.8 percent in Luzon; and 3.2 percent in the Visayas. These were however, slower than their respective last month's rates of 4.6 percent, 4.7 percent, and 6.4 percent.
    

  • Price hikes in crude petroleum oil and petroleum products caused the respective mineral fuels, lubricants and related materials index in Luzon and Philippines to accelerate by 5.6 percent and 5.2 percent from their corresponding March's rates of 5.1 percent and 4.9 percent. Likewise, the group's index in Mindanao rose to 0.1 percent from -0.5 percent due to price gains in kerosene and firewood. In Visayas, price add-ons in selected petroleum products resulted to the 2.9 percent growth rate in its group's index, slower than 5.0 percent last month.
    

  • The monthly change in the index for chemicals, including animal and vegetable oils and fats in Visayas was noticed at 2.5 percent. This was brought about by the price increments in fertilizer and selected inorganic acids. On the other hand, the downward movement in the price of coconut oil in Luzon brought down the group's index by -0.5 percent and -0.1 percent in the Philippines. Prices of chemicals, including animal and vegetable oils and fats in Mindanao appeared stable as it had a zero growth from 0.1 percent.
    

  • Higher prices of cement, lumber, steel bars, hollow blocks and other concrete products in Luzon pushed up the index of manufactured goods classified chiefly by materials in the area by 0.1 percent. Similarly, the group's index in Visayas picked up by 2.9 percent due to the uptick in the prices of selected construction materials and luggage. In Mindanao, additions in the prices of G.I. wires and selected paper products also raised its group's index by 0.1 percent. All these factors contributed to the 0.3 percent growth in the national index.
    

  • Prices of machinery and transport equipment and miscellaneous manufactured articles in Luzon, Visayas, Mindanao and in the Philippines generally remained at their last month's price levels as their group's indexes have zero growth during the month.
    

  Revisions of the series from January to July 2007 were made due to the updated price reports on asphalt and the implementation of new rental rates on machinery and transport equipment provided by the official sources.

Source: National Statistics Office
Manila, Philippines

Page last revised: September 19, 2008