June 2009

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

p - pleminary
r - revised

Year-on-Year

• On an annual basis, the General Wholesale Price Index (GWPI) at the national level still registered a negative rate of 8.8 percent in June from -7.3 percent in May. Negative rates were observed in the annual movements of the following commodity groups: crude materials, inedible except fuels index, -31.0 percent in June from -26.4 percent in May; mineral fuels, lubricants and related materials, -31.4 percent from -32.7 percent; chemicals, including animal and vegetable oils and fats, -0.7 percent from 0.8 percent; and machinery and transport equipment, -0.5 percent, the same rate posted last month. In addition, a slower annual price gain was posted in the food index at 1.3 percent from 3.6 percent; beverages and tobacco, 2.4 percent from 2.6 percent; and manufactured goods classified chiefly by materials, 2.8 percent from 4.7 percent Annual growth rate for miscellaneous manufactured articles index remained at 2.4 percent.
  

• The GWPI in Luzon further dropped to -9.8 percent in June from -8.5 percent in May. This was brought about by the price decreases observed in the annual rates of crude materials, inedible except fuels index (-33.0% from -27.6%), mineral fuels, lubricants and related materials (-33.2% from -35.1%), chemicals, including animal and vegetable oils and fats (-1.2% from 0.4%) and machinery and transport equipment (-1.4% from -1.3%). A slower annual price hike was also noted in the food index at 3.3 percent from 6.0 percent; beverages and tobacco, 4.0 percent from 4.1 percent; manufactured goods classified chiefly by materials, 3.7 percent from 5.7 percent; and miscellaneous manufactured articles, 2.1 percent from 2.2 percent.
  

• Similarly, the annual rate of price change based on the GWPI in Visayas declined to -9.1 percent in June from -7.3 percent in May. All the commodity groups continued to post negative annual rates in June except for miscellaneous manufactured articles index which had an annual price increase of 5.0 percent from 5.2 percent last month. The annual movement in the prices of food items further went down to -9.1 percent from -7.3 percent; beverages and tobacco, -1.8 percent from -1.4 percent; crude materials, inedible except fuels, -24.9 percent from -24.8 percent; mineral fuels, lubricants and related materials, -24.8 percent from -21.8 percent; chemicals, including animal and vegetable oils and fats, -0.6 percent from -0.3 percent; and manufactured goods classified chiefly by materials, -6.3 percent from -2.8 percent. An annual price reduction was also noted in the machinery and transport equipment index at -1.0 percent from -1.2 percent.
  

• Increases in wholesale prices in Mindanao generally slowed down to 1.0 percent in June from 2.1 percent last month. The annual rate in the indexes of food and mineral fuels, lubricants and related materials were correspondingly registered at -1.6 percent and -0.2 percent from -1.0 percent and 7.2 percent, respectively. A negative annual rate was also seen in beverages and tobacco index at -3.9 percent. Slower annual price increments were also noticed in chemicals, including animal and vegetable oils and fats index at 3.0 percent from 5.0 percent and machinery and transport equipment, 5.5 percent from 5.7 percent. However, higher annual price gains were correspondingly observed in the indexes of crude materials, inedible except fuels and miscellaneous manufactured articles at 5.3 percent and 2.7 percent from 0.4 percent and 1.7 percent, respectively. The annual growth rate of manufactured goods classified chiefly by materials index remained at 3.5 percent.
  

• By Commodity Group, Month-on-Month

  The month-on-month growth rate of the wholesale prices of commodities in the country picked up to 2.9 percent in June from 1.1 percent in May. Price increase in the food index was higher at 1.2 percent from -0.3 percent; mineral fuels, lubricants and related materials, 13.7 percent from 5.7 percent; and manufactured goods classified chiefly by materials, 0.1 percent from -0.1 percent. The increment in prices of miscellaneous manufactured articles index eased to 0.1 percent from its last month's rate of 0.2 percent. Downward movements were however seen in the prices of crude materials, inedible except fuels at -3.4 percent from 4.0 percent; chemicals, including animal and vegetable oils and fats, -0.2 percent from 1.2 percent; and machinery and transport equipment, -0.1 percent from 0.1 percent. The monthly price change in the beverages and tobacco index was still at its last month's rate of -0.1 percent.
  

  • The index for mineral fuels, lubricants and related materials in the Philippines accelerated to 13.7 percent in June from 5.7 percent in May; Luzon, 15.0 percent from 6.5 percent; Visayas, 8.3 percent from 1.7 percent; and Mindanao, 0.8 percent from -0.1 percent. This was brought about by the upward adjustments in the prices of gasoline, LPG and other petroleum products.
    

  • Higher prices of food items like chicken, selected fish species, sugar, tubers and rootcrops and selected fruits and vegetables in Luzon raised the food index in the area by 1.4 percent. In Visayas, price add-ons in some meat products, fish, fruits and vegetables resulted to a 1.0 percent increase in its group's index. In Mindanao, price increments were observed in rice, sugar, selected dried fish and vegetables as its index went up to 0.5 percent. The national index moved up to 1.2 percent from -0.3 percent.
    

  • The group's index for manufactured goods classified chiefly by materials in Luzon and in the Philippines rose by 0.1 percent as higher prices of cement and paperboard products were noted during the month. Prices of notebooks and other paper products in Mindanao went up during the month as the group's index also grew to 0.4 percent. Meanwhile, reductions in the prices of deformed, angle and flat bars further pulled down the group's index in Visayas by -0.4 percent
    

  • The growth in the miscellaneous manufactured articles index in Mindanao was registered at 0.9 percent due to the price add-ons noted in selected undergarments, photographic equipment, selected office supplies and other articles. On the other hand, a negative rate of 0.1 percent in the group's index in Luzon was brought about by the decreases in the prices of some school supplies. Meanwhile prices of miscellaneous manufactured articles in Visayas remained stable as its index recorded a zero growth during the period. Movement in the group's index at the national level was at 0.1 percent, slower than the 0.2 percent last month.
    

  • A 0.3 percent drop in the machinery and transport equipment index was seen in Mindanao as prices of selected electrical appliances went down. Lower price of electric wire in Luzon also pulled down its group's index by -0.1 percent. Meanwhile, prices of machinery and transport equipment in Visayas generally remained stable as its index had a zero growth. The national index dropped to -0.1 percent from 0.1 percent last month.
    

  • Declines in the prices of selected cigarettes were noted in Luzon. Thus, the beverages and tobacco index in the area and in the Philippines moved at -0.1 percent. Compared to last month, no movement was observed in the prices of beverages and tobacco in Visayas and Mindanao as the group's index had a zero growth in June.
    

  • Price gains on selected industrial chemicals, pharmaceutical preparations and other washing and cleaning compounds such as laundry soaps and toilet preparations raised the index for chemicals, including animal and vegetable oils and fats in Mindanao by 0.2 percent. The upward price adjustment in coconut oil in Visayas also pushed up its group's index by 0.1 percent. On the other hand, the month-on-month change in the group's index in Luzon dropped to -0.2 percent due to the price reductions in selected fertilizers. The national index also moved at a negative rate of 0.2 percent.
    

  • The group's index for crude materials, inedible except fuels in Mindanao advanced by 5.2 percent. This was attributed to the higher prices of charcoal, sand, gravel and pebbles during the period. On the other hand, lower prices of copra in Luzon pulled down its index by -4.2 percent. Prices of crude materials, inedible except fuels in Visayas generally remained stable as its index posted a zero growth. All these factors contributed to the -3.4 decrease in the group's index at the national level.
    

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: October 19, 2009