April 2009

Year-on-Year Inflation Rates, All Items
April 2008 - April 2009

p - pleminary
r - revised

Year-on-Year

• The annual movement in the country's General Wholesale Price Index (GWPI) further dropped to -5.4 percent in April from -4.5 percent in March. This can be attributed to the continued negative movements observed in the indexes of crude materials, inedible except fuels at -26.6 percent from -23.8 percent; mineral fuels, lubricants and related materials, -28.9 percent from -30.0 percent; and machinery and transport equipment, -0.5 percent from -0.7 percent. Moreover, slower annual price adjustments were recorded in food items at 4.3 percent from 7.0 percent; beverages and tobacco, 3.1 percent from 6.6 percent; and manufactured goods classified chiefly by materials, 5.7 percent 6.1 percent. However, the annual growth rate of 1.3 percent in chemicals, including animal and vegetable oils and fats was higher than the 0.6 percent last month. Meanwhile, for four consecutive months, the annual growth rate for miscellaneous manufactured articles remained at 2.3 percent.
  

• The annual movement of wholesale prices in Luzon was still posted at a negative rate of 6.4 percent in April from -5.3 percent in March due to the declines in the following commodity groups: crude materials, inedible except fuels, -28.2 percent from -25.5 percent; mineral fuels, lubricants and related materials, -31.8 percent from -32.9 percent; chemicals, including animal and vegetable oils and fats, -0.1 percent from -1.3 percent; and machinery and transport equipment, -1.2 percent from -1.4 percent. Slower annual price increments were also noted in food items at 7.0 percent from 10.4 percent; beverages and tobacco, 4.0 percent from 7.8 percent; and manufactured goods classified chiefly by materials, 6.5 percent from 6.6 percent. The 2.2 percent annual growth rate for miscellaneous manufactured articles was however higher than the 2.1 percent last month.
  

• A continuous deceleration in the annual rate of the GWPI in Visayas was recorded at -5.3 percent in April from -4.1 percent in March. Negative annual growth rates were noted in food index at -7.1 percent from -6.0 percent; crude materials, inedible except fuels, -20.7 percent from -18.2 percent; and mineral fuels, lubricants and related materials, -17.2 percent from -18.5 percent. Lower annual gains were also registered in the prices of beverages and tobacco at 0.5 percent from 6.5 percent; chemicals, including animal and vegetable oils and fats, 4.8 percent from 8.4 percent; and manufactured goods classified chiefly by materials, 0.6 percent from 3.4 percent. Movements in the indexes for machinery and transport equipment and miscellaneous manufactured articles were still at their last month's rates of -1.1 percent and 4.9 percent, respectively.
  

• In Mindanao, the annual rate of price changes based on the GWPI went down to 2.7 percent in April from 3.1 percent in March due to a -2.4 percent deceleration in the food index from -1.7 percent. A negative rate in beverages and tobacco index was also recorded at -0.2 percent. Likewise, slower annual price hikes were posted in crude materials, inedible except fuels at 0.8 percent from 5.0 percent; manufactured goods classified chiefly by materials, 3.3 percent from 5.1 percent; and miscellaneous manufactured articles, 0.9 percent from 1.1 percent. On the contrary, higher annual increases were seen in the prices of mineral fuels, lubricants and related materials at 16.6 percent from 16.0 percent; chemicals, including animal and vegetable oils and fats, 8.5 percent from 7.8 percent; and machinery and transport equipment, 4.7 percent from 3.6 percent.
  

• By Commodity Group, Month-on-Month

  The monthly changes of the wholesale prices of commodities in the Philippines accelerated to 0.9 percent in April from -0.4 percent in March. Higher price increments were noted in beverages and tobacco at 0.1 percent from -0.4 percent; mineral fuels, lubricants and related materials, 6.8 percent from 0.1 percent; chemicals, including animal and vegetable oils and fats, 0.5 percent from -1.3 percent; and machinery and transport equipment, 0.2 percent from -0.1 percent. Meanwhile, reductions were still seen in the prices of food items at -1.0 percent from -0.1 percent; crude materials, inedible except fuels, -0.1 percent from -4.3 percent; and manufactured goods classified chiefly by materials, -0.1 percent from -0.7 percent. The index of miscellaneous manufactured articles remained stable as its group's index recorded a zero growth during the month.
  

  NOTE :

  • A 1.1 percent gain in machinery and transport equipment index was posted in Mindanao as higher prices of selected electrical lamps and fixtures were observed during the period. In addition, increments in the prices of insulated electrical wires pushed up the group's index in Luzon by 0.1 percent. Thus, movement of the group's index at the national index went up by 0.2 percent from -0.1 percent. Prices of machinery and transport equipment in Visayas generally remained stable as its group's index had a zero growth in April.
    

  • The mineral fuels, lubricants and related materials index at the national level grew by 6.8 percent in April from 0.1 percent in March. This was brought about by the 7.5 percent increase in the prices of crude petroleum oil and petroleum products in Luzon. Likewise, upward adjustment in the prices of gasoline, diesel oil and kerosene raised the group's index in Visayas by 4.5 percent. Price additions in LPG also resulted to a 0.7 percent growth in the group's index in Mindanao.
    

  • Movement in chemicals, including animal and vegetable oils and fats index at 0.7 percent in Luzon was due to price gains in selected vitamins, laundry soap and other cosmetic preparations in the area. In addition, higher prices of selected paints and varnishes along with upward adjustment in the prices of selected pharmaceutical preparations in Mindanao raised its group's index by 0.7 percent. On the other hand, lower prices of coconut oil in Visayas pushed down the group's index by -0.8 percent. The national index moved up by 0.5 percent from its previous month's rate of -1.3 percent.
    

  • Prices of selected cigarettes in Luzon and Mindanao were on the uptrend. Thus, the index for beverages and tobacco in the two areas rose by 0.2 percent and 0.8 percent, respectively. Meanwhile, the group's index in Visayas had a negative rate of 1.4 percent due to price reductions on selected softdrinks during the month. The group's index in the Philippines went up by 0.1 percent from -0.4 percent.
    

  • Lower prices of food items like pork, eggs, selected fish species, fruits and vegetables in Luzon were observed during the month. It pushed down the food index in the area by -1.3 percent. Likewise, the group's index in Visayas dropped by -0.7 percent as prices of selected leafy vegetables, fish, fruits, roots and tubers, cocoa and coffee were on the downtrend. Meanwhile, a 0.2 percent increment in the group's index in Mindanao was noted as prices rice, sugar and milk were higher during the month. Price addition in poultry feeds also contributed to the upward trend. At the national level, the group's index further went down by -1.0 percent from -0.1 percent.
    

  • A decline in prices of bamboo and coconut oil in Mindanao effected a -3.1 percent decrease in the index for crude materials, inedible except fuels in the area and in the Philippines by -0.1 percent. However, addition in the prices of copra caused the group's index in Luzon to move up by 0.1 percent from -5.0 percent. Meanwhile, for three consecutive months, prices of crude materials, inedible except fuels in Visayas generally remained stable as its group's index had a zero growth.
    

  • The index for manufactured goods classified chiefly by materials in the Philippines still posted a negative rate of -0.1 percent. This can be attributed to the -1.6 percent decrease in the group's index in Mindanao as prices of selected electrical conduit pipes and fabricated products such as hinges, lockset and cyclone wire were lower during the period. On the contrary, higher prices of rubber tires and selected construction materials in Luzon showed a 0.1 percent increment in its group's index in April. In Visayas, the same growth rate of 0.1 percent was also recorded mainly due to the increment in the prices of cement and deformed bars.
    

  • Prices of selected textbooks were up in Luzon thus, the miscellaneous manufactured articles index in the area gained 0.1 percent, the same rate registered in March. Prices of miscellaneous manufactured articles in the other areas generally appeared stable as they had a zero growth during the month.
    
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    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.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: August 21, 2009