November 2010

Year-on-Year Inflation Rates, All Items
November 2009 - November 2010

p - pleminary
r - revised

Year-on-Year

• The annual rate of price adjustment based on the General Wholesale Price Index (GWPI) at the national level accelerated to 4.0 percent in November from 3.4 percent in October. Higher annual price increments were posted in the indexes of food at 3.7 percent from 2.2 percent; beverages and tobacco, 3.4 percent from 3.1 percent; crude materials, inedible except fuels, 47.2 percent from 43.5 percent; manufactured goods classified chiefly by materials, 1.0 percent from 0.9 percent; and miscellaneous manufactured articles, 2.4 percent from -0.1 percent. However, the annual growth rates in the indexes of mineral fuels, lubricants and related materials and chemicals, including animal and vegetable oils and fats correspondingly slowed down to 4.2 percent and 5.5 percent from 4.7 percent and 5.6 percent, respectively. For four consecutive months, the annual growth in machinery and transport equipment index remained at 1.0 percent.
  

• The annual growth of the WPI in Luzon rose to 3.8 percent in November from 3.0 percent in October. It resulted from a higher annual price hike observed in the food index at 2.6 percent in November from 0.7 percent in October; beverages and tobacco, 3.7 percent from 3.2 percent; crude materials, inedible except fuels, 51.3 percent from 47.4 percent; manufactured goods classified chiefly by materials, 1.1 percent from 1.0 percent; and miscellaneous manufactured articles, 2.3 percent from -0.6 percent. Meanwhile, a slower annual price increment was observed in mineral fuels, lubricants and related materials index at 3.7 percent from 4.3 percent and chemicals, including animal and vegetable oils and fats, 7.4 percent from 7.5 percent. The annual growth for machinery and transport equipment index remained at 0.9 percent.
  

• On the other hand, increases in the wholesale prices of commodities in Visayas eased to 5.5 percent in November from 5.6 percent in October as the annual price movement posted in the index of chemicals, including animal and vegetable oils further dropped to -1.6 percent from -1.3 percent. Moreover, a slower annual price change was noted in the food index at 8.5 percent from 8.9 percent; beverages and tobacco, 3.9 percent from 4.3 percent; and manufactured goods classified chiefly by materials, 0.9 percent from 1.0 percent. Meanwhile, higher annual price gains were recorded in the indexes of crude materials, inedible except fuels (40.0% from 36.5%); mineral fuels, lubricants and related materials (6.2% from 5.7%); and miscellaneous manufactured articles (1.8% from 1.5%). The annual growth for machinery and transport equipment index was still at its last month's rate of 2.7 percent.
  

• In Mindanao, the annual movement of the WPI picked up to 4.5 percent in November from 4.2 percent in October. This can be attributed to higher annual growth rates posted in the indexes of food at 7.6 percent from 7.1 percent; mineral fuels, lubricants and related materials, 10.3 percent from 9.7 percent; and manufactured goods classified chiefly by materials, 1.0 percent from 0.7 percent. However, the annual price adjustment in the machinery and transport equipment index slowed to 0.1 percent from 0.2 percent. Annual price declines were also correspondingly seen in the indexes of crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats at -5.9 percent and -0.9 percent from -6.5 percent and -1.0 percent, respectively. The annual price adjustments in the indexes of beverages and tobacco and miscellaneous manufactured articles were still at their respective last month's rates of 1.4 percent and 3.5 percent.
  

• By Commodity Group, Month-on-Month

  The month-on-month growth rate of the wholesale prices of commodities at the national level jumped to 1.9 percent in November from 0.8 percent in October. Upward price movements were registered in food index at 2.7 percent from 0.4 percent and mineral fuels, lubricants and related materials, 3.1 percent from 1.9 percent. From zero growth, the index of beverages and tobacco also climbed to 1.3 percent; manufactured goods classified chiefly by materials, 0.2 percent; and miscellaneous manufactured articles, 2.5 percent. Meanwhile, a slower rate was noticed in the index of crude materials, inedible except fuels at 2.7 percent from 6.8 percent and chemicals, including animal and vegetable oils and fats, 0.4 percent from 1.1 percent. The monthly price change in the machinery and transport equipment index dropped to -0.1 percent from zero growth.
  

  • Price adjustments in the mineral fuels, lubricants and related materials index at 3.2 percent in Luzon and 3.6 percent in Visayas were effected primarily by the price hikes in petroleum products such as kerosene, gasoline, diesel and fuel oil during the period. Similarly, a higher price of crude petroleum was observed in Luzon. In Mindanao, price add-ons in LPG caused a 0.6 percent increment in its group's index. All these factors contributed to a 3.1 percent growth in the group's index in the Philippines.
    

  • The food index in Luzon gained 3.5 percent as prices of selected food items like sugar, rice, chicken, selected fruits and vegetables, some fish species, instant coffee, sardines and other spices went up during the month. Higher prices of copra meal in the area also contributed to the uptrend. However, lower prices of pork, tubers, selected leafy vegetables and some miscellaneous food items pushed down its index in Mindanao by -0.5 percent while that for Visayas generally remained stable during the period. These mixed price trends caused the national index to accelerate by 2.7 percent from 0.4 percent last month.
    

  • Uptick in the prices of copra in Luzon and Visayas correspondingly pushed up the crude materials, inedible except fuels index in the areas by 2.8 percent and 2.5 percent. These were however, slower than their respective last month's rates of 7.3 percent and 3.9 percent. Moreover, increases in the prices of bamboo in Mindanao raised its group's index by 0.6 percent. The group's national index moved up at a slower pace of 2.7 percent.
    

  • The monthly growth rate in miscellaneous manufactured articles index in Luzon at 2.9 percent was brought about by price additions in selected clothing, footwear, selected textbooks, photofilms and some office supplies. Similarly, the group's index in Visayas inched up to 0.4 percent due to price add-ons in some furniture, sanitary fixtures and photographic instruments. Meanwhile, prices of miscellaneous manufactured articles in Mindanao generally remained stable during the period. At the national level, the index went up by 2.5 percent from zero growth.
    

  • The beverages and tobacco index in Luzon posted a 1.7 percent growth during the month. This was attributed to the price hikes in some brewery products and softdrinks. Likewise, upward movements in the prices of selected cigarettes and liquors were noticed in Visayas. It resulted to a 0.6 percent growth in the group's index in the area. Meanwhile in Mindanao, no price movement was recorded the group's index as it had a zero growth. The group's index in the Philippines rose to 1.3 percent from zero growth.
    

  • The chemicals, including animal and vegetable oils and fats index in Mindanao grew by 0.1 percent in November as prices of some vitamins and other pharmaceutical products in the area were on the uptrend. Likewise, higher prices of paints, selected washing and cleaning compounds raised the group's index in Luzon by 0.6 percent, slower than its last month's rate of 1.3 percent. On the other hand, reductions in the prices of selected fertilizers in Visayas effected a -0.2 percent drop in its group's index. The monthly price change at the national level was registered at 0.4 percent, slower than the 1.1 percent growth in October.
    

  • Prices of selected leather products, rubber tires and some paper products were up in Luzon. Thus, the manufactured goods classified chiefly by materials index in the area picked up by 0.2 percent. The same rate was also seen in the group's index in Mindanao as upward adjustments were noted in the prices of some glass products during the period. However, decreases in the prices of selected knitted fabrics and other non-metallic products caused a -0.1 percent decline in its group's index in Visayas. The group's national index grew 0.2 percent.
    

  • A -0.1 percent decrease was observed in the machinery and transport equipment index in Luzon, Mindanao and in the Philippines. This was due to downward adjustments in the prices of selected transport equipment in Luzon. Lower prices of some electrical appliances were also observed in Mindanao. Meanwhile, prices of machinery and transport equipment in Visayas generally remained stable during the month as the group's index had a zero growth.
    

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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.