Year-on-Year Growth Rates, All Items
July 2011 - July 2012

p - pleminary
r - revised

Year-on-Year

• On an annual basis, the General Wholesale Price Index (GWPI) at the national level posted a zero growth in July from -1.1 percent in June. This can be attributed to the offsetting annual movements among the commodity groups during the month. Higher annual upticks were recorded in food index at 3.8 percent from 3.0 percent; beverages and tobacco index, 1.9 percent from 1.8 percent; and machinery and transport equipment index, 2.4 percent from 2.2 percent. On the other hand, negative annual rates were still noticed in the following commodity groups: crude materials, inedible except fuels, -23.0 percent from -26.9 percent; mineral fuels, lubricants and related materials, -4.6 percent from -7.0 percent; and chemicals, including animal and vegetable oils and fats, -2.1 percent from -2.9 percent. A slower annual increment was also observed in manufactured goods classified chiefly by materials index at 2.2 percent from 2.3 percent and miscellaneous manufactured articles index, 1.7 percent from 1.8 percent.
  

• The annual movement of the GWPI in Luzon was still negative at -0.2 percent in July from -1.4 percent in June. Annual declines were still seen in crude materials, inedible except fuels index at -25.2 percent from -29.2 percent; mineral fuels, lubricants and related materials index, -4.8 percent from -7.3 percent; and chemicals including animal and vegetable oils and fats index, -3.2 percent from -4.4 percent. In addition, the annual increase in manufactured goods classified chiefly by materials index eased to 2.1 percent from 2.2 percent and miscellaneous manufactured articles index, 1.8 percent from 1.9 percent. However, the annual rate in the food index rose 4.7 percent from 3.6 percent; beverages and tobacco index, 1.7 percent from 1.6 percent; and machinery and transport equipment index, 3.1 percent from 2.7 percent.
  

• In Visayas, the annual adjustment in wholesale prices of commodities in July was registered at its last month's rate of -1.2 percent. It resulted from the annual decrease in the crude materials, inedible except fuels index at -8.8 percent in July from -12.3 percent in June and mineral fuels, lubricants and related materials index, -7.9 percent from -8.0 percent. Moreover, an annual drop of -0.1 percent was still seen in miscellaneous manufactured articles index. The corresponding annual hikes in the indices of chemicals including animal and vegetable oils and fats and manufactured goods classified chiefly by materials slowed to 1.4 percent and 0.2 percent from 1.8 percent and 0.3 percent, respectively. Meanwhile, the annual growth in the food index remained at its last month's rate of 0.8 percent and beverages and tobacco index, 1.2 percent. Movement in the machinery and transport equipment index was zero.
  

• In Mindanao, the annual change in the GWPI improved to 1.3 percent in July from 1.7 percent in June. The annual rate in mineral fuels, lubricants and related materials index dropped by -0.1 percent from -0.9 percent. Slower annual increases were likewise noticed in the following: food index (0.2% from 1.0%); chemicals including animal and vegetable oils and fats index (3.4% from 4.1%); manufactured goods classified chiefly by materials index (4.1% from 4.2%); and miscellaneous manufactured articles index (2.1% from 3.0%). The indices for machinery and transport equipment and crude materials, inedible except fuels moved at their respective last month's rates of 0.6 percent and -1.9 percent.
  

• By Commodity Group, Month-on-Month

  The monthly change of the WPI in the country accelerated to 0.6 percent in July from -1.8 percent in June. This was effected by the monthly gain in mineral fuels, lubricants and related materials index at 1.7 percent in July from -8.6 percent in June and machinery and transport equipment index, 0.2 percent from 0.1 percent. On the other hand, negative monthly rates were posted in crude materials, inedible except fuels index (-0.6% from -2.1%); chemicals including animal and vegetable oils and fats index (-0.2% from -0.3%); and miscellaneous manufactured articles index (-0.1% from 0.1%). A slower monthly growth was registered in the heavily-weighted food index at 0.5 percent from 1.5 percent. The beverages and tobacco index retained its last month's rate of 0.1 percent while the manufactured goods classified chiefly by materials index had a zero growth.
  

  • Higher prices of crude oil raised the mineral fuels, lubricants and related materials index in Luzon by 1.8 percent. A 0.6 percent growth in the group's index in Mindanao was also due to price hikes in diesel oil during the month. No monthly movement was however seen in the group's index in Visayas. At the national level, the group's index increased by 1.7 percent.
    

  • Upward adjustments in the prices of some insulated wires in Luzon caused a 0.3 percent increment in machinery and transport equipment index in the area and in the Philippines, 0.2 percent. In Visayas and Mindanao prices of machinery and transport equipment generally remained stable during the month.
    

  • The crude materials, inedible except fuels index in Luzon dropped by -0.7 percent as lower prices of copra were observed during the month. Meanwhile, bamboo was priced higher in Visayas hence, its group's index inched up 0.1 percent. In Mindanao, price additions in bamboo were offsetted by the reductions in the prices of charcoal thereby resulting to a zero growth in its group's index. These mixed price trends contributed to a -0.6 percent decline in the group's national index.
    

  • Lower prices of some washing and cleaning compounds in Visayas and selected paints in Luzon pulled down the chemicals including animal and vegetable oils and fats index in the two areas by -0.2 percent. On the contrary, a 0.3 percent rise in the group's index in Mindanao was due to price increments in fertilizers and varnishes. The monthly change in the group's index at the national level was pegged at -0.2 percent.
    

  • The miscellaneous manufactured articles in Mindanao decreased by -0.6 percent. The downtrend was caused by lower prices of some undergarments and office supplies in the area. Meanwhile, prices of miscellaneous manufactured articles in Luzon and Visayas generally remained stable during the month. The group's index in the Philippines went down -0.1 percent.
    

  • The 0.6 percent growth in the food index in Luzon was brought about by the price add-ons in some food items like chicken, eggs, milk products, canned goods, selected spices, sugar, and some fruits and vegetables. Similarly, higher prices of dairy products, dried fish, some cereal preparations, fruits and sugar pushed up the group's index in Mindanao by 0.2 percent. In Visayas, increments in the prices of eggs, milk and milk products, canned goods and sugar were being offsetted by the reductions in the prices of beef, pork and selected fruits and vegetables. Thus, the monthly movement in the group's index was zero. The group's national index moved at a slower pace of 0.5 percent from 1.5 percent in June.
    

  • In Mindanao, price upticks were noticed in selected softdrinks during the reference period. Hence, the beverages and tobacco index advanced 1.2 percent. In Luzon and Visayas, a zero growth was registered in the group's index. The group's index in the Philippines gained 0.1 percent.
    

  • The monthly change in the index of manufactured goods classified chiefly by materials index in Mindanao at 0.1 percent was due to price additions in synthetic leather products, paper and paper board products, cotton yarn, cotton thread, and some structural metals. In Luzon, higher prices of fabricated wire products, plywood, cement and some concrete nails were noticed during the month. This was however offsetted by the reductions in the prices of rubber tires and marble chips. Thus, a zero growth was posted in the group's index in the area. In Visayas, no price changes were noted in manufactured goods classified chiefly by materials during month. At the national level, the group's index had a zero growth.