March 2011

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

p - pleminary
r - revised

Year-on-Year

• The annual movement in the General Wholesale Price Index (GWPI) in the Philippines went up to 9.1 percent in March from 8.2 percent in February. This was effected by the higher annual rates posted in beverages and tobacco index at 6.2 percent in March from 5.4 percent in February; mineral fuels, lubricants and related materials, 21.0 percent from 14.9 percent; manufactured goods classified chiefly by materials, 2.8 percent from 2.3 percent; machinery and transport equipment, 1.9 percent from 1.2 percent; and miscellaneous manufactured articles, 4.1 percent from 3.9 percent. Meanwhile, a slower annual growth was noted in the food index at 4.2 percent from 4.8 percent; crude materials, inedible except fuels, 53.5 percent from 73.3 percent; and chemicals, including animal and vegetable oils and fats, 11.5 percent from 11.7 percent.
  

• On an annual basis, the rate of increment in the GWPI in Luzon advanced to 10.0 percent in March from 9.3 percent in February. It resulted from a higher annual gain in the index of beverages and tobacco at 6.7 percent in March from 6.1 percent in February; mineral fuels, lubricants and related materials, 22.2 percent from 17.9 percent; manufactured goods classified chiefly by materials, 3.0 percent from 2.5 percent; machinery and transport equipment, 1.2 percent from 0.5 percent; and miscellaneous manufactured articles, 4.2 percent from 3.4 percent. However, the annual increase in the food index eased to 3.9 percent from 4.8 percent; crude materials, inedible except fuels, 55.9 percent from 64.1 percent; and chemicals, including animal and vegetable oils and fats, 14.6 percent from 15.4 percent.
  

• Likewise, the annual change in the GWPI in Visayas grew to 9.7 percent in March compared to 8.9 percent last month. This was due to faster annual movements in the food index at 8.8 percent from 7.9 percent; mineral fuels, lubricants and related materials, 23.4 percent from 19.2 percent; manufactured goods classified chiefly by materials, 2.0 percent from 1.8 percent; and machinery and transport equipment, 6.9 percent from 5.5 percent. Meanwhile, a slower annual growth was recorded in crude materials, inedible except fuels index at 58.0 percent from 80.1 percent. Moreover, the annual rate in the index of chemicals, including animal and vegetable oils and fats was still negative at -0.6 percent. The annual movement for the indexes of beverages and tobacco and miscellaneous manufactured articles remained at their corresponding previous month's rates of 7.7 percent and 2.2 percent.
  

• In Mindanao, the annual adjustment in the GWPI slowed by 0.7 percentage point to 2.1 percent in March from 2.8 percent in February. This was attributed to a -0.2 percent annual decline in the index of crude materials, inedible except fuels. Slower annual additions were also observed in the food index (2.5% from 4.8%); chemicals, including animal and vegetable oils and fats (0.6% from 1.2%); and manufactured goods classified chiefly by materials (1.7% from 2.1%). On the other hand, a higher annual increase was seen in the index of mineral fuels, lubricants and related materials at 0.9 percent from 0.6 percent; machinery and transport equipment, 1.8 percent from 0.6 percent; and miscellaneous manufactured articles, 5.4 percent from 4.3 percent. The annual growth in beverages and tobacco index was recorded at its last month's rate of 1.7 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, the rate of change in the GWPI at the national level slowed down to 0.9 percent in March from 1.9 percent in February. Negative monthly rates were registered in the indexes of the following commodity groups: food, -0.6 percent from 1.0 percent; crude materials, inedible except fuels, -11.4 percent from 7.9 percent; and chemicals, including animal and vegetable oils and fats, -0.2 percent from 1.6 percent. Moreover, lower monthly increments were correspondingly seen in the indexes of beverages and tobacco and miscellaneous manufactured articles at 0.8 percent and 0.2 percent from 2.1 percent and 0.6 percent, respectively. Meanwhile, a higher adjustment was posted in the index of mineral fuels, lubricants and related materials (5.4% from 4.2%), and machinery and transport equipment (0.7% from 0.6%). The monthly growth for manufactured goods classified chiefly by materials index remained at its last month's rate of 0.5 percent.
  

  • The decline in the index of crude materials, inedible except fuels in Luzon at -11.6 percent and in Visayas at -12.2 percent was mainly due to price reductions in copra during the month. A price decrease in firewood also caused a drop in its group's index in Mindanao by -0.4 percent. Thus, a negative rate of 11.4 percent was noticed in the national index.
    

  • Lower prices of chicken, eggs, selected fish species, fruits and vegetables pushed down the food index in Luzon by -0.8 percent. Downward adjustments in the prices of copra meal and desiccated coconut also contributed to the decrease in the group's index in the area. However, higher prices of milk and milk products, coconut oil, some fish species and seasoning raised the group's index in Visayas by 0.8 percent. A 0.1 percent increment in the group's index in Mindanao was caused by upward monthly changes in the prices of selected fruits and vegetables. This was however slower than the 0.2 percent growth last month. These mixed price trends resulted to a -0.6 percent decline in the group's national index.
    

  • The chemicals, including animal and vegetable oils and fats index in Luzon went down by -0.4 percent in March as lower prices of coconut oil and selected fertilizers were observed during the period. Likewise, a -0.2 percent decrease in the group's index in Mindanao was attributed to lower prices of some fertilizers, insecticide and other chemical products. On the other hand, higher prices of paints, selected fertilizers, soap and other washing compounds effected a 0.6 percent increase in the group's index in Visayas. Movement in the group's national index was registered at -0.2 percent.
    

  • Higher prices of selected liquors and cigarettes were noticed in Luzon. Thus, the beverages and tobacco index in Luzon gained 0.9 percent, slower than the 2.5 percent rate in February. In Visayas and Mindanao, prices of beverages and tobacco remained stable during the month. At the national level, the group's index moved at a slower pace of 0.8 percent from 2.1 percent.
    

  • The monthly price change in miscellaneous manufactured articles index in Mindanao at 1.1 percent was brought about by higher prices in selected clothing items. Likewise, price hikes in some plumbing fixtures and some clothing items in Luzon raised its group's index by 0.1 percent. Price add-ons in selected sanitary, lighting and plumbing fixtures in Visayas pushed its group's index by 0.1 percent. The national index picked up by 0.2 percent, slower than the 0.6 percent increase last month.
    

  • A 5.5 percent addition in the mineral fuels, lubricants and related materials index in Luzon and 6.6 percent in Visayas were due to price hikes on selected petroleum products during the month. Similarly, the price increase in LPG in Mindanao raised the group's index by 0.3 percent. Thus, the group's national index rose by 5.4 percent from 4.2 percent.
    

  • Higher prices of selected electrical apparatus in Luzon and Mindanao were noted during the month. Hence, the machinery and transport equipment index in the two areas grew by 0.8 percent and 0.7 percent, respectively. In Visayas, higher prices of electrical appliances resulted to a growth of 0.2 percent. At the national level, the group's index moved up to 0.7 percent.
    

  • A 0.6 percent increment was posted in the manufactured goods classified chiefly by materials index in Luzon as prices of selected construction materials and wood products were on the upward trend in the area. Moreover, add-ons in the prices of G.I. sheets, plywood and paper products pushed up the group's index in Visayas by 0.1 percent, but this was slower than the 0.7 percent growth last month. In Mindanao, prices of manufactured goods classified chiefly by materials generally remained stable as its group's index had a zero growth. The movement in the group's national index was at its last month's rate of 0.5 percent.
    

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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.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: July 2, 2011