November 2009

Year-on-Year Inflation Rates, All Items
November 2008 - November 2009

p - pleminary
r - revised

Year-on-Year

• The annual movement of the General Wholesale Price Index (GWPI) at the national level accelerated to 2.4 percent in November from -1.6 percent in October. This was effected by the higher price adjustments observed in the index of food at 5.7 percent in November from 4.4 percent in October; beverages and tobacco, 0.5 percent from -0.6 percent; mineral fuels, lubricants and related materials, 3.3 percent from -11.4 percent; chemicals, including animal and vegetable oils and fats, 2.1 percent from 0.9 percent; and manufactured goods classified chiefly by materials, 0.9 percent from 0.8 percent. However, the corresponding annual price changes in the indexes for crude materials, inedible except fuels and machinery and transport equipment further dropped to -15.9 percent and -1.0 percent from -15.6 percent and -0.5 percent, respectively. The miscellaneous manufactured articles index retained its previous month? annual growth rate of 0.7 percent.
  

• The annual increase of wholesale prices in Luzon went up to 2.6 percent in November from -1.8 percent in October. It resulted from higher annual growth rates in the index of the following commodity groups: food, 6.7 percent from 5.4 percent; beverages and tobacco, 1.8 percent from 0.6 percent; mineral fuels, lubricants and related materials, 3.6 percent from -11.9 percent; chemicals, including animal and vegetable oils and fats, 2.3 percent from 1.4 percent; and manufactured goods classified chiefly by materials, 0.8 percent from 0.7 percent. On the other hand, slower annual price gain was seen in the index of miscellaneous manufactured articles at 0.5 percent from 0.6 percent. A negative annual rate of -17.7 percent was still registered in the index of crude materials, inedible except fuels while that for machinery and transport equipment further dropped to -2.0 percent from -1.4 percent.
  

• Meanwhile, the annual movement of the GWPI in Visayas was posted at -0.1 percent in November from -3.7 percent in October. Annual price decline was noted in the beverages and tobacco index at -5.9 percent in November from -6.8 percent in October; crude materials, inedible except fuels, -8.3 percent from 0.7 percent; chemicals, including animal and vegetable oils and fats, -1.1 percent from -2.4 percent; and manufactured goods classified chiefly by materials, -0.7 percent from 0.1 percent. Moreover, a lower annual price increment was noticed in the miscellaneous manufactured index at 0.7 percent from 1.1 percent. However, the annual growth rate for the food index advanced to 1.6 percent from -1.6 percent while that for machinery and transport equipment remained at -0.8 percent.
  

• A higher annual increase in the wholesale prices of commodities was noted in Mindanao at 2.8 percent in November from 2.6 percent in October. This can be attributed to the upward annual price increment in the index of crude materials, inedible except fuels at 6.2 percent in November from 5.8 percent in October; mineral fuels, lubricants and related materials, 3.3 percent from 2.7 percent; chemicals, including animal and vegetable oils and fats, 4.0 percent from 0.6 percent; machinery and transport equipment, 5.5 percent from 5.3 percent; and miscellaneous manufactured articles, 2.0 percent from 1.3 percent. On the contrary, a slower annual price hike was seen in the food index at 2.7 percent from 3.3 percent. In addition, annual price movement in the beverages and tobacco index dropped to -2.6 percent from -2.3 percent while that for manufactured goods classified chiefly by materials was still at its previous month? rate of 1.9 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, the general level of wholesale prices of commodities in the Philippines moved at 1.0 percent in November, the same rate observed in October. Higher price addition was posted in the beverages and tobacco index at 1.1 percent in November from -0.1 percent in October; mineral fuels, lubricants and related materials, 2.4 percent from 1.3 percent; chemicals, including animal and vegetable oils and fats, 0.5 percent from -0.7 percent; and crude materials, inedible except fuels and manufactured goods classified chiefly by materials, 0.1 percent from -1.0 and zero growth, respectively. Meanwhile, a slower price gain was noticed in the food index at 1.2 percent from 2.6 percent. A price decline was also seen in the machinery and transport equipment index at -0.1 percent while that for miscellaneous manufactured articles was stable as its index had a zero growth.
  

  NOTE :

  • The beverages and tobacco index in the Philippines went up by 1.1 percent in November from -0.1 percent in October. The growth recorded in the respective group? indexes in Luzon and Visayas at 1.2 percent and 1.0 percent was due to increments in the prices of selected liquors and cigarettes observed in the two areas. On the other hand, no movement was noted in the prices of beverages and tobacco in Mindanao as its index had a zero growth.
    

  • Upward adjustments in the prices of coconut oil and selected washing and cleaning compounds pushed up the chemicals, including animal and vegetable oils and fats index in Luzon by 0.7 percent. The 0.2 percent growth posted in the group? index in Visayas was brought about by the price add-ons on selected pharmaceutical products. In Mindanao, movement in the prices of chemicals, including animal and vegetable oils and fats was zero. The national index moved up to 0.5 percent from -0.7 percent.
    

  • Higher prices of copra raised the index for crude materials, inedible except fuels in Luzon by 0.2 percent and consequently at the national level by 0.1 percent. On the other hand, prices of crude materials, inedible except fuels in Visayas and Mindanao generally remained stable as their group? index had a zero growth during the month.
    

  • The monthly changes in the index for mineral fuels, lubricants and related materials at 2.5 percent in Luzon and 3.1 percent in Visayas, were brought about by the price hikes on petroleum products in the areas. Thus, the index in the Philippines picked up to 2.4 percent during the month. Meanwhile, the index in Mindanao generally remained stable during the month.
    

  • A 0.2 percent increase in the manufactured goods classified chiefly by materials index in Luzon was due to upward movements in the prices of plywood, paper products and selected rubber manufactures resulting to 0.1 percent growth in the national index. Meanwhile, the group? index in Visayas and Mindanao remained stable as their index had a zero growth.
    

  • Prices of selected food items like dried fish, onions, garlic, instant coffee and tonic food drinks were up in Visayas, hence the food index in the area gained by 0.3 percent. Moreover, price upticks on selected food items like pork, beef, chicken, canned meat products, some fish species, fruits, vegetables, coffee and sugar along with the increased prices of desiccated coconut pulled up the food index in Luzon by 1.6 percent. This was however slower than the 3.3 percent growth last month. On the other hand, downward movement in the prices of rice, selected fish, fruits and vegetables caused a decline in the group? index in Mindanao by -1.1 percent from 1.6 percent. In the Philippines, the index went up by 1.2 percent, slower than the 2.6 percent last October.
    

  • Lower prices of selected electrical appliances in Luzon were noted during the month. It resulted to a drop in the machinery and transport equipment index in the area and at the national level by -0.1 percent. Meanwhile, no changes were observed in the prices of machinery and transport equipment in Visayas and Mindanao as their index registered a zero growth.
    

  • The miscellaneous manufactured articles index in the three areas generally remained stable in November.
    
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    Revisions of the series from January to July 2007 were made due to the updated price reports on asphalt and the implementation of new rental rates on machinery and transport equipment provided by the official sources.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: February 20, 2010