Year-on-Year Inflation Rates, All Items
March 2011 - March 2012

p - preliminary
r - revised

Year-on-Year

The year-on-year growth rate of the General Wholesale Price Index (GWPI) in the country went up to 2.6 percent in March from 2.5 percent in February. A higher annual increment was recorded in the food index at 1.1 percent from 0.3 percent and miscellaneous manufactured articles index, 2.2 percent from 1.9 percent. Meanwhile, negative annual rates were still posted in the indices of crude materials, inedible except fuels (-15.9%) and chemicals, including animal and vegetable oils and fats (-3.4%) from -23.4 percent and -4.4 percent, respectively. A slowdown was also noted in beverages and tobacco index at 3.0 percent from 3.5 percent; mineral fuels, lubricants and related materials index, 8.6 percent from 11.2 percent; manufactured goods classified chiefly by materials index, 3.4 percent from 3.6 percent; and machinery and transport equipment index, 0.8 percent from 1.1 percent.

• The annual increase in the wholesale prices of commodities in Luzon inched up to 2.9 percent in March from 2.8 percent in February. The annual hike in the food index rose 1.6 percent from 0.3 percent and miscellaneous manufactured articles index, 2.4 percent from 1.9 percent. On the other hand, declines were still seen in crude materials, inedible except fuels index at -17.0 percent from -24.4 percent and chemicals, including animal and vegetable oils and fats index, -5.0 percent from -6.2 percent. Likewise, lower annual add-ons were registered in the indices of the following commodity groups: beverages and tobacco, 2.9 percent from 3.8 percent; mineral fuels, lubricants and related materials, 9.3 percent from 12.4 percent; manufactured goods classified chiefly by materials, 3.3 percent from 3.8 percent; and machinery and transport equipment, 0.8 percent from 1.2 percent.
  

• In Visayas, the annual movement of the GWPI was still negative at -0.4 percent in March from -0.6 percent in February. The heavily-weighted food index further dropped to -2.2 percent from -1.0 percent and crude materials, inedible except fuels index, -8.9 percent from -19.8 percent. Moreover, the annual increments of chemicals, including animal and vegetable oils and fats index slowed down to 2.5 percent from 3.2 percent; manufactured goods classified chiefly by materials, 1.8 percent from 2.2 percent; and machinery and transport equipment, 0.4 percent from 0.7 percent. Except for miscellaneous manufactured articles index whose annual growth was zero, the annual gains in the rest of the commodity groups moved up during the month.
  

• In Mindanao, the annual gain in the GWPI improved to 2.2 percent in March from 2.3 percent in February. Annual declines were posted in the food index at -0.1 percent from 1.2 percent and crude materials, inedible except fuels index, -3.0 percent, the same rate last month. In addition, slower annual rates were correspondingly noticed in the indices of machinery and transport equipment and miscellaneous manufactured articles at 0.8 percent and 2.4 percent from 1.3 percent and 2.9 percent, respectively. The other commodity groups recorded higher annual growths during the period.

• By Commodity Group, Month-on-Month

  The monthly increment in the GWPI at the national level climbed 1.2 percent in March from 0.3 percent in February. It resulted from the upward monthly adjustments in the indices of all the commodity groups except in crude materials, inedible except fuels index which had a negative monthly rate of -2.7 percent. The monthly growth in the food index went up to 0.2 percent from -1.1 percent; mineral fuels, lubricants and related materials index, 4.1 percent from 3.0 percent; chemicals, including animal and vegetable oils and fats index, 0.8 percent from -1.0 percent; and manufactured goods classified chiefly by materials index, 0.3 percent from 0.1 percent. From zero growth, the monthly changes in the following indices also grew during the month: beverages and tobacco and machinery and transport equipment, 0.3 percent; and miscellaneous manufactured articles, 0.5 percent.

  • Price hikes in kerosene, gasoline, diesel oil and LPG were observed in Luzon and Visayas. Thus, the mineral fuels, lubricants and related materials index in the two areas picked up to 3.9 percent and 8.7 percent, respectively. Increments in the prices of crude oil in Luzon also contributed to the increase in its group's index. Similarly, higher prices of LPG in Mindanao, raised its group's index by 1.0 percent. At the national level, the group's index advanced 4.1 percent from 3.0 percent.
    

  • The index for chemicals, including animal and vegetable oils and fats in Luzon and Mindanao rose 0.9 percent as price additions in fertilizers, painting materials and other washing and cleaning compounds were seen during the month. Meanwhile in Visayas, lower prices of fertilizers and other chemical products resulted to a -0.1 percent drop in its index. At the national level, the index gained 0.8 percent.
    

  • Upward adjustments in the prices of some furniture and fixtures, sanitary and plumbing fixtures along with the increments in the prices of some clothing and footwear pushed up the miscellaneous manufactured articles index in Mindanao by 0.6 percent. The same monthly rate in the group's index was noted in Luzon as prices of UPVC water pipes, rubber shoes and undergarments were seen during the month. On the contrary, reductions in the prices of selected furniture and some brand of watches pushed down the group's index in Visayas by -0.3 percent. From a zero growth, the group's index in the Philippines went up 0.5 percent.

  • The index for beverages and tobacco in Visayas climbed 1.1 percent due to higher prices of selected cigarettes and softdrinks. The 0.7 percent rise in the group's index in Mindanao was due to price upticks in some cigarettes in the area. In Luzon, prices of alcoholic beverages were on the uptrend. Thus, the group's index inched up by 0.1 percent. Movement in the group's national index was at 0.3 percent.

  • The growth in the index of machinery and transport equipment in Luzon at 0.3 percent was effected by the price add-ons in some electrical apparatus and fixtures. Price increments in selected electrical appliances raised the group's index in Mindanao by 0.2 percent. Meanwhile in Visayas, the group's index had a zero growth during the reference period. At the national level, the group's index increased 0.3 percent.
    

  • Movements in the manufactured goods classified chiefly by materials index in Mindanao and in Luzon were registered at 1.4 percent and 0.2 percent, respectively. It resulted from the price upticks in cement, plywood, rubber tires, concrete products and hardware. Price gains in some paper products were also noted in the two areas during the month. On the other hand, lower prices of some fabrics and thread in Visayas pushed down the group's index by -0.3 percent. In the Philippines, the group's index grew 0.3 percent.
    

  • The declines in the food index in Mindanao at -1.1 percent and in Visayas, -0.4 percent were brought about by the lower prices of meat, selected fish species and fruits and vegetables during the month. Meanwhile, higher prices of milk, cheese, ice cream, selected fish species, calamansi, and some fruits and vegetables, salt and selected spices were observed in Luzon. Hence, the group's index in the area moved up by 0.4 percent. At the national level, the group's index jumped to 0.2 percent from -1.1 percent.
    

  • The crude materials, inedible except fuels index in Luzon and in Visayas correspondingly decreased by -3.1 percent and -0.2 percent due to reductions in the prices of copra during the month. Likewise, the -0.4 percent drop in the group's index in Mindanao was brought about by the downward adjustments in the prices of bamboo and pebbles. Thus, the national index went down by -2.7 percent.
    

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: May 19, 2012