June 2011

Year-on-Year Inflation Rates, All Items
June 2010 - June 2011

p - pleminary
r - revised

Year-on-Year

• The year-on-year growth of the General Wholesale Price Index (GWPI) in the country further slowed down to 9.9 percent in June from 10.0 percent in May. This can be attributed to the slower annual increments correspondingly posted in the indexes of crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats at 50.4 percent and 8.0 percent in June from their respective last month's rates of 64.8 percent and 11.9 percent. Meanwhile, the annual hike in food index was higher at 4.1 percent in June from 4.0 percent in May; beverages and tobacco, 7.3 percent from 7.2 percent; mineral fuels, lubricants and related materials, 25.0 percent from 23.2 percent; manufactured goods classified chiefly by materials, 3.1 percent from 3.0 percent; machinery and transport equipment, 2.1 percent from 2.0 percent; and miscellaneous manufactured articles, 4.6 percent from 4.5 percent.
  

• The annual growth rate of the GWPI in Luzon likewise eased to 10.9 percent in June from 11.1 percent in May as slower annual increases were registered in the indexes of the following commodity groups: crude materials, inedible except fuels, 53.8 percent in June from 68.6 percent in May; chemicals, including animal and vegetable oils and fats, 9.8 percent from 14.9 percent; and machinery and transport equipment, 1.2 percent from 1.3 percent. However, annual gain in food index was higher at 4.3 percent from 4.2 percent; beverages and tobacco, 7.9 percent from 7.5 percent; mineral fuels, lubricants and related materials, 26.7 percent from 24.7 percent; manufactured goods classified chiefly by materials, 3.1 percent from 3.0 percent; and miscellaneous manufactured articles, 4.7 percent from 4.5 percent.
  

• In Visayas, the annual uptick in the GWPI decelerated to 8.0 percent in June from 8.8 percent in May. The annual growth in food index slowed to 5.5 percent in June from 6.7 percent in May; beverages and tobacco, 7.0 percent from 8.5 percent; crude materials, inedible except fuels, 41.8 percent from 60.0 percent; and mineral fuels, lubricants and related materials, 19.8 percent from 19.9 percent. On the other hand, higher annual rates were recorded in the indexes of the following commodity groups: chemicals, including animal and vegetable oils and fats (0.1 percent from zero growth); manufactured goods classified chiefly by materials (4.2 percent from 3.4 percent); machinery and transport equipment (7.3 percent from 7.1 percent); and miscellaneous manufactured articles (2.7 percent from 2.5 percent).
  

• On the other hand, the annual change in the GWPI in Mindanao went up to 2.8 percent in June from 2.0 percent in May. It resulted from a higher annual rate of adjustment in the food index at 1.3 percent in June from 0.5 percent in May; minerals fuels, lubricants and related materials, 4.9 percent from 3.4 percent; chemicals, including animal and vegetable oils and fats, 3.1 percent from 2.1 percent; manufactured goods classified chiefly by materials, 3.4 percent from 2.7 percent; and machinery and transport equipment, 2.9 percent from 2.1 percent. Meanwhile, slower annual increases were correspondingly noted in the indexes of beverages and tobacco and miscellaneous manufactured articles at 3.2 percent and 4.7 percent from 3.4 percent and 5.4 percent, respectively. A negative annual rate was still posted in the index of crude materials, inedible except fuels at -0.1 percent from -0.5 percent.
  

• By Commodity Group, Month-on-Month

  The month on month movement of the wholesale prices of commodities at the national level was still negative at -0.4 percent in June from -1.2 percent in May. Declines were noted in the indexes of the following commodity groups: chemicals, including animal and vegetable oils and fats index (-3.2% from -0.7%); crude materials, inedible except fuels (-5.7% from -3.6%); and mineral fuels, lubricants and related materials (-0.6% from -3.5%). Moreover, slower monthly add-ons were noticed in the indexes of beverages and tobacco and manufactured goods classified chiefly by materials at 0.3 percent from their respective last month's rates of 0.5 percent and 0.4 percent. A higher monthly adjustment was however registered in food index at 0.3 percent from -0.5 percent. For four consecutive months, the growth for miscellaneous manufactured articles index was at 0.2 percent while that for machinery and transport equipment remained stable during the month as it posted a zero growth from 0.1 percent.
  

  • Lower prices of coconut oil in Luzon further pushed down the chemicals, including animal and vegetable oils and fats index by -4.0 percent from -1.0 percent. Downward adjustments in the prices of selected basic industrial chemicals also contributed to the decrease in the group's index in the area. Meanwhile in Mindanao, prices of selected fertilizers, paints and vulcanizing cement were priced higher during the month. Thus, the group's index grew by 0.5 percent. This was however slower than its last month's rate of 0.8 percent. In Visayas, price additions in some fertilizers, washing and cleaning compounds effected a 0.3 percent increase in its group's index from 0.4 percent growth in May. At the national level, movement in the group's index was recorded at -3.2 percent from -0.7 percent.
    

  • The decline in the crude materials, inedible except fuels index in Visayas at -8.8 percent and in Luzon at -5.5 percent was mainly due to the downward price adjustment in copra during the period. Hence, the group's national index further decreased to -5.7 percent from -3.6 percent. In Mindanao, the index of crude materials, inedible except fuels still had a zero growth during the month.
    

  • The mineral fuels, lubricants and related material index in Luzon went down by -0.8 percent due to price rollbacks in petroleum products. Lower prices of crude petroleum were also noted in the area. However in Visayas and Mindanao, the group's indexes correspondingly moved up to 2.5 percent and 0.9 percent due to upward adjustments in the prices of some petroleum products. The national index dropped to -0.6 percent from -3.5 percent.
    

  • Higher prices of selected liquors were seen in Visayas. This effected a 0.8 percent gain in the beverages and tobacco index in June from 0.7 percent last month. In Luzon, price increments in selected cigarettes and softdrinks raised its group's index by 0.3 percent. In Mindanao, prices of beverages and tobacco generally remained stable as its group's index had a zero growth. Movement in the group's national index was posted at 0.3 percent, slower than its previous month's rate of 0.5 percent.
    

  • The manufactured goods classified chiefly by materials index rose to 0.8 percent in Visayas. This was brought about by the increases in the prices of selected paper and paper products. Price hikes in some rubber tires, steel bars, G.I. pipes and paper products were noticed in Mindanao. This resulted to a 0.6 percent growth in its group's index. In Luzon, a 0.2 percent growth in the group's index was attributed to higher prices of rubber tubes, cement and selected wood products. At the national level, the group's index moved up at a slower pace of 0.3 percent from 0.4 percent.
    

  • The monthly change of 0.5 percent in the food index in Luzon was effected by the price increments in some food items such as chicken, selected fish species, canned goods, fruits, vegetables and cooking oil. Price additions in selected fruits and vegetables, fish and cereal preparations likewise raised the group's index in Mindanao by 0.3 percent. On the other hand, lower prices of centrifugal and refined sugar in Visayas pushed down the group's index by -1.0 percent. Reductions in the prices of some marine fish species in the area also contributed to the downtrend. These mixed price trends resulted to a 0.3 percent growth in the national index from -0.5 percent last month.
    

  • Higher prices of selected textbooks and office supplies were seen in Visayas and Luzon. Hence, the miscellaneous manufactured articles index in the two areas grew by 0.2 percent and 0.1 percent, respectively. In Mindanao, the same growth of 0.3 percent was registered in the group's index as prices of some undergarments and office supplies went up during the month. Meanwhile, the index of miscellaneous manufactured articles in the Philippines posted a zero growth in June.
    

  • The 0.2 percent growth still recorded in the index of machinery and transport equipment in Visayas was brought by higher prices of selected electrical apparatus. On the contrary, the group's index in Luzon, Mindanao and in the Philippines had a zero growth during the month.
    

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    NOTE :

    Revisions of the monthly series from January 2009 to March 2010 were made to incorporate the machinery and equipment rental rates based on the latest updated data from the official source.

Source: National Statistics Office
Manila, Philippines

Page last revised: August 26, 2011