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

p - pleminary
r - revised

Year-on-Year

• The annual growth of the General Wholesale Price Index (GWPI) at the national level went up at a slower pace of 0.3 percent in May from 0.6 percent in April. Continuous annual declines were noted in the in dices of crude materials, inedible except fuels at -29.6 percent in May from -26.2 percent in April and chemicals, including animal and vegetable oils and fats, -5.7 percent from -5.1 percent. Moreover, slower annual increments were posted in the following indices: food, 1.8 percent from 2.0 percent ; beverages and tobacco, 2.0 percent from 2.5 percent; mineral fuels, lubricants and related materials, 1.2 percent from 2.1 percent; manufactured goods classified chiefly by materials, 2.5 percent from 2.8 percent; and miscellaneous manufactured articles, 2.0 percent from 2.2 percent. However, the annual rate in machinery and transport equipment index advanced to 2.1 percent from 0.7 percent.
  

• Compared to its last month's rate of 0.6 percent, the GWPI in Luzon continued to ease at 0.2 percent in May. The correspo nding annual adjustments in the indices of crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats further dropped by -31.3 percent and -7.8 percent from -27.5 percent and -7.1 percent, respectively. On the other hand, the annual change in machinery and tra nsport equipment index jumped to 2.7 percent from 0.7 percent. The rest of the commodity groups posted slower annual gains during the month.
  

• Annual downward movement was still noted in the wholesale prices of commoditi es in Visayas at -0.5 percent in May from -0.6 percent in April. This was effected by the annual decrease in the food index at -0.4 percent from -1.0 percent; crude materials, inedible except fuels index, -21.3 percent from -20.0 percent; and miscellaneous manufactured articles index, -0.1 percent f rom zero growth. Moreover, improved annual upticks were registered in the following indices: beverages and tobacco and chemicals, including animal and vegetable oils and fats, 1.8 percent from 2.5 percent and 2.3 percent, respectively; manufactured goods classified chiefly by materials, 1.0 percent from 1.8 percent; and machinery and transport equipment, 0.2 percent from 0.4 percent. Meanwhile, the annual hike in mineral fuels, lubricants and related materials index rose 0.1 percent from -0.9 percent.
  

• In Mindanao , the annual increase in the GWPI further moved at a slower pace of 1.2 percent in May from 2.0 percent in April. The downward trend can be due to the negative annual rates still posted in food index at -0.2 percent and crude materials, inedible except fuels index, -2.0 percent from -4.1 percent. De celeration in the annual increments were also recorded in all the other commodity groups.
  

• By Commodity Group, Month-on-Month

  The monthly change of the GWPI in the Philippines further went down to -1.5 percent in May from -0.5 percent in April. The heavily- weighted food index fell by -0.7 percent in May from 0.5 percent in April; crude materials, inedible except fuels index, -8.0 p ercent from -1.3 percent; mineral fuels, lubricants and related materials index, -4.3 percent from -2.4 percent; and chemicals, including animal and vegetable oils and fats index, -1.2 percent from -0.4 percent. From zero growth, the index for machinery and transport equipment rose 1.5 percent. The monthly movements in the indices of beverages and tobacco and miscellaneous manufactured articles were zero while that for manufactured goods classified chiefly by materials was still at 0.1 percent.
  

  • Reduction in the price of copra was noticed in Luzon. Thus, the crude materials, inedible except fuels index in the area declined by -9.4 percent. On the contrary, upward adjustment in the price of copra in Visayas resulted to a 0.5 percent growth in its group's index. Likewise, higher prices of bamboo and charcoal raised the group's index in Mindanao by 2.2 percent. The group's national index decreased by -8.0 percent.
    

  • The decline in the indices of mineral fuels, lubricants and related materials in Luzon at -4.4 percent and in Visayas at -5.1 percent was attributed to the series of price roll backs in petroleum products during the month. In Mindanao, lower prices of LPG and lubricating oil pushed down its groupsÒ index by -1.7 percent. At the national level, the monthly rate of change in the group's index was recorded at -4.3 percent.
    

  • In Luzon, the price decrease in coconut oil pulled down the index for chemicals, including animal and vegetable oils and fats index in the area by -1.7 percent. On the contrary, higher prices of selected fertilizer, insecticide and vulcanizing cement raised the group's index in Mindanao by 0.4 percent. This was however slower than its last month's rate of 0.7 percent. In Visayas, a zero growth was registered in chemicals, including animal and vegetable oils and fats index. These mixed price trends further pushed down the group's national index by -1.2 percent.
    

  • Lower prices of selected food items such as fruits, vegetables, roots and tubers, fish species, calamansi, and cooking oil contributed to the decrease in the food indices in the four areas: Luzon, -0.9 percent; Visayas, -0.2 percent; Mindanao, -0.1 percent; and Philippines, -0.7 percent.
    

  • The 1.9 percent gain in the index of machinery and transport equipment in Luzon was due to higher prices of some electrical appliances, apparatus and insulated electrical wire. In Visayas and Mindanao, prices of machinery and transport equipment remained stable during the reference period as its group's index had a zero growth. From zero growth, the national index grew 1.5 percent.
    

  • In Mindanao, the downward adjustments in the prices of abaca rope and G.I. pipes resulted to a -0.6 percent drop in the manufactured goods classified chiefly by materials index. Add-ons in the prices of woven fabrics effected a 0.1 percent increase in the group's index in Visayas. Likewise, prices of plywood, paper and paper products raised its group's index in Luzon by 0.2 percent. At the national level, the index retained its last month's rate of 0.1 percent.
    

  • The beverages and tobacco index in Luzon moved up 0.1 percent as prices of selected alcoholic beverages were on the upward trend. In Visayas, Mindanao and at the national level, the monthly movement in the group's index was zero.
    

  • The index of miscellaneous manufactured articles in the four areas had a zero growth during the month.
    

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: July 23, 2012