May 2011

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

p - pleminary
r - revised

Year-on-Year

• On an annual basis, the movement of the General Wholesale Price Index (GWPI) at the national level eased to 10.0 percent in May from 10.7 percent in April. A slower annual growth was posted in the food index at 4.0 percent in May from 4.6 percent in April; crude, materials, inedible except fuels, 64.8 percent from 72.8 percent; mineral fuels, lubricants and related materials, 23.2 percent from 24.3 percent; and chemicals, including animal and vegetable oils and fats, 11.9 percent from 12.8 percent. On the other hand, higher annual rates were observed in the indexes of the following commodity groups: beverages and tobacco, 7.2 percent from 6.6 percent; manufactured goods classified chiefly by materials, 3.0 percent from 2.9 percent; machinery and transport equipment, 2.0 percent from 1.9 percent; and miscellaneous manufactured articles, 4.5 percent from 4.1 percent.
  

• The annual growth of the GWPI in Luzon, improved to 11.1 percent in May from 11.9 percent in April. This can be attributed to the slower annual movements recorded in the indexes of food at 4.2 percent from 4.7 percent; crude, materials, inedible except fuels, 68.6 percent from 77.0 percent; mineral fuels, lubricants and related materials, 24.7 percent from 25.7 percent; chemicals, including animal and vegetables oils and fats, 14.9 percent from 16.2 percent; manufactured goods classified chiefly by materials, 3.0 percent from 3.1 percent; and machinery and transport equipment, 1.3 percent from 1.4 percent. Meanwhile, higher annual additions were noted in the corresponding indexes of beverages and tobacco and miscellaneous manufactured articles at 7.5 percent and 4.5 percent from 7.0 percent and 4.1 percent, respectively.
  

• Similarly, annual increases in the GWPI in Visayas went down to 8.8 percent in May from 9.5 percent in April. It resulted from a slower annual increment in the food index at 6.7 percent from 7.5 percent; crude materials, inedible except fuels, 60.0 percent from 69.4 percent; and mineral fuels, lubricants and related materials, 19.9 percent from 22.9 percent. Higher annual adjustments were however seen in the indexes of beverages and tobacco, 8.5 percent from 7.7 percent; manufactured goods classified chiefly by materials, 3.4 percent from 2.3 percent; machinery and transport equipment, 7.1 percent from 6.8 percent; and miscellaneous manufactured articles, 2.5 percent from 2.4 percent. The annual movement in chemicals, including animal and vegetable oils and fats index remained stable during the month.
  

• In Mindanao, the annual change in the GWPI at 2.0 percent in May was higher than the 1.7 percent growth in April. This was due to higher annual increments registered in the indexes of beverages and tobacco and mineral fuels, lubricants and related materials (3.4 percent from 2.7 percent and 2.3 percent, respectively); manufactured goods classified chiefly by materials (2.7 percent from 2.0 percent); and chemicals, including animal and vegetable oils and fats and machinery and transport equipment (2.1 percent from 1.3 percent and 1.6 percent, respectively). Meanwhile, a slower annual growth was noticed in the food index at 0.5 percent from 0.7 percent. The corresponding annual rates in the indexes of crude materials, inedible except fuels and miscellaneous manufactured articles were still at their respective last month's rates of -0.5 percent and 5.4 percent.
  

• By Commodity Group, Month-on-Month

  The monthly change in the GWPI in the country dropped to -1.2 percent in May from 1.4 percent in April. This was mainly due to the decline in the monthly rate of crude materials, inedible except fuels index at -3.6 percent in May from 12.6 percent in April; mineral fuels, lubricants and related materials, -3.5 percent from 3.9 percent; and chemicals, including animal and vegetable oils and fats, -0.7 percent from 1.5 percent. Moreover, a negative rate of -0.5 percent was still seen in the food index. A lower monthly rate was also posted in the index of manufactured goods classified chiefly by materials at 0.4 percent from 0.7 percent. The same April 2011 positive monthly growths were noted in the indexes of beverages and tobacco (0.5 percent); machinery and transport equipment (0.1 percent); and miscellaneous manufactured articles (0.2 percent).
  

  • Lower prices of copra pushed down the crude materials, inedible except fuels index in Luzon by -4.3 percent from 13.6 percent. In Visayas, copra were priced higher during the month, thus a 2.2 percent increment was recorded in the group's index during the month. This was however slower than the 7.2 percent increase in April. Meanwhile, prices of crude materials, inedible except fuels remained stable in Mindanao as the group's index had a zero growth. This mixed price trends resulted to a -3.6 drop in the group's national index.
    

  • The decline in the index of mineral fuels, lubricants and related materials at -6.1 percent in Visayas was mainly due to the roll backs in prices of gasoline, kerosene and diesel oil in the area. Prices of crude oil and petroleum products in Luzon also decreased during the month. It pushed down the group's index in the area by -3.6 percent from 4.2 percent. On the contrary, upward movement in the prices of LPG in Mindanao raised its index by 1.1 percent, slower than the 1.3 percent growth last month. The group's national index fell by -3.5 percent from 3.9 percent.
    

  • The chemicals, including animal and vegetable oils and fats index in Luzon went down by -1.0 percent as price reductions in coconut oil and selected basic industrial chemicals were observed during the review period. However, prices of some fertilizers and paints in Visayas and Mindanao were on the upward trend. Thus, the monthly changes in the group's index in the two areas correspondingly inched up by 0.4 percent and 0.8 percent. At the national level, movement in the group's index was seen at -0.7 percent.
    

  • Downward adjustment in the prices of selected food items such as chicken, selected fish species, some fruits and vegetables and sugar contributed to a -0.6 percent decrease in the food index in Luzon. Lower prices of desiccated coconut in the area were also noted during the period. In Visayas and Mindanao, prices of some marine fish species, sugar and selected fruits and vegetables correspondingly pushed down the group's index by -0.8 percent and -0.1 percent. The group's index in the Philippines moved at its last month's rate of -0.5 percent.
    

  • The monthly growth of 0.9 percent in manufactured goods classified chiefly by materials index in Visayas was attributed to price uptick in selected woven and knitted fabrics and yarns. Increments in the prices of rubber tires, deformed and angle bars and some concrete products were noted in Mindanao, thereby resulting a 0.8 percent gain in the group's index. Higher prices of rubber tires, lumber, flat bars and hollow blocks raised the group's index in Luzon and in the Philippines by 0.4 percent, slower than their last month's rate of 0.7 percent.
    

  • From zero growth, a faster monthly rate of 0.7 percent registered in the index of beverages and tobacco in Visayas was mainly due to price increases in selected liquors in the area. Upward adjustment in the prices of some softdrinks in Luzon and Mindanao caused a 0.5 percent and 0.7 percent increment in their respective group's indexes. A price increase in selected brewery products was also noticed in Mindanao. The group's national index moved at its last month's rate of 0.5 percent.
    

  • A 0.3 percent gain in miscellaneous manufactured articles index in Mindanao was brought about by price add-ons in selected undergarments and footwear in May. Likewise, price gains were recorded in some furniture and plumbing fixtures and accessories in Luzon. Hence, movement in its group's index picked up by 0.3 percent from 0.2 percent. In Visayas, higher prices of selected office supplies effected a 0.1 percent increment in its group's index. Movement in the group's index at the national level was still at 0.2 percent.
    

  • From zero growth, the machinery and transport equipment index in Mindanao and Visayas correspondingly grew by 0.5 percent and 0.2 percent as monthly price increments were observed in selected electrical appliances in the two areas. Meanwhile, no changes were posted in the prices of machinery and transport equipment in Luzon as its index had a zero growth. At the national level, the monthly adjustmente in the group's index was at 0.1 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.

Source: National Statistics Office
Manila, Philippines

Page last revised: July 30, 2011