November 2011

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

p - preliminary
r - revised

Year-on-Year

The year-on-year growth rate of the General Wholesale Price Index (GWPI) in the Philippines further slid to 7.4 percent in November from 8.2 percent in October. This was effected by the slower annual increases observed in the following indices: food, 3.9 percent from 7.0 percent; beverages and tobacco, 5.8 percent from 6.6 percent; mineral fuels, lubricants and related materials, 21.9 percent from 22.2 percent; and miscellaneous manufactured articles, 2.3 percent from 4.4 percent. However, the annual gain in crude materials, inedible except fuels index was higher at 1.2 percent from -3.6 percent; chemicals, including animal and vegetable oils and fats index, 1.9 percent from -0.1 percent; manufactured goods classified chiefly by materials index, 3.9 percent from 3.3 percent; and machinery and transport equipment index, 1.6 percent from 1.5 percent.

• The GWPI in Luzon followed the same trend in the national level as its annual hike eased to 8.4 percent in November from 9.3 percent in October. Slower annual increments were registered in the indices of the following commodity groups: food (4.8% from 8.6%); beverages and tobacco (6.1% from 7.2%); and miscellaneous manufactured articles (2.3% from 4.7%). Meanwhile, higher annual uptick was noted in crude materials, inedible except fuels index at 2.1 percent from -3.7 percent; mineral fuels, lubricants and related materials index, 23.8 percent from 23.7 percent; chemicals, including animal and vegetable oils and fats index, 1.3 percent from -1.1 percent; manufactured goods classified chiefly by materials index, 3.9 percent from 3.2 percent; and machinery and transport index, 1.2 percent from 1.0 percent.
  

• Similarly, the annual gain of the GWPI in Visayas improved to 2.7 percent in November from 3.5 percent in October as the annual rate of the heavily weighted food index further went down to -1.2 percent in November from -0.8 percent in October and crude materials, inedible except fuels index, -7.4 percent from -5.0 percent. Moreover, a slower annual increase was seen in beverages and tobacco index at 5.2 percent from 5.9 percent; mineral fuels, lubricants and related materials, 12.1 percent from 16.2 percent; and miscellaneous manufactured articles, 0.8 percent from 1.2 percent. On the other hand, the corresponding annual changes in chemicals, including animal and vegetable oils and fats and manufactured goods classified chiefly by materials indices were higher at 3.5 percent and 3.7 percent from their respective October rates of 3.2 percent and 3.6 percent while that of machinery and equipment index remained at 3.4 percent.
  

• In Mindanao, the annual increments in the wholesale prices of commodities also decelerated to 3.1 percent in November from 3.7 percent in October. It resulted from a slower annual hike in food index at 2.3 percent in November from 3.3 percent in October; crude materials, inedible except fuels, 1.3 percent from 1.9 percent; mineral fuels, lubricants and related materials, 3.1 percent from 4.5 percent; chemicals, including animal and vegetable oils and fats, 4.5 percent from 4.7 percent; and manufactured goods classified chiefly by materials, 3.7 percent from 3.8 percent. Meanwhile, the annual growth in the indices of beverages and tobacco and miscellaneous manufactured articles correspondingly advanced to 3.4 percent and 4.8 percent from 3.0 percent and 4.6 percent, respectively. For three consecutive months, the machinery and transport equipment index moved at 3.1 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, wholesale prices of commodities in the Philippines generally went up by 1.3 percentage points to 1.4 percent in November from 0.1 percent in October. The monthly gain in crude materials, inedible except fuels and mineral fuels, lubricants and related materials index was higher at 7.6 percent and 4.1 percent from -1.2 percent and -1.8 percent, respectively; and chemicals, including animal and vegetable oils and fats index, 2.3 percent from -0.5 percent. From a zero growth, the manufactured goods classified chiefly by materials index climbed to 0.8 percent; beverages and tobacco index, 0.6 percent; miscellaneous manufactured articles index, 0.4 percent; and machinery and transport equipment index, 0.1 percent. The food index dropped by -0.3 percent from a gain of 2.2 percent last month.
  

  • Uptick in the prices of copra, abaca and bamboo pushed up the crude materials, inedible except fuels index in Luzon by 8.6 percent. Thus, the group's national index jumped to 7.6 percent from -1.2 percent. In Visayas and Mindanao, prices of crude materials, inedible except fuels remained stable during the month as the group's index had a zero growth.
    

  • The 4.6 percent growth in mineral fuels, lubricants and related materials index in Luzon was brought about by price hikes in kerosene, diesel oil and asphalt. On the other hand, lower prices of LPG consequently effected a negative monthly rate of -0.8 percent in the group's index in Mindanao. In Visayas, no changes were seen in the prices of mineral fuels, lubricants and related materials as its index had a zero growth. These mixed price trends contributed a 4.1 percent increase in the group's national index.
    

  • The index of chemicals, including animal and vegetable oils and fats in Luzon picked up to 2.9 percent from -0.6 percent; and in Visayas, 0.1 percent from zero growth. This was due to the upward adjustments in the prices of coconut oil and selected paints, varnishes and related compounds in the two areas. On the contrary, a -0.1 percent decline in the group's index in Mindanao was attributed to price reductions in selected fertilizers during the period. The monthly movement in the group's national index was recorded at 2.3 percent from -0.5 percent.

  • A 0.6 percent gain in the index of beverages and tobacco in Luzon and in the Philippines was due to higher prices of selected softdrinks and liquor during the month. In Mindanao, add-ons in the prices of brewery products raised the group's index by 0.4 percent. In Visayas, prices of beverages and tobacco generally remained stable during the period as its group's index had a zero growth.

  • The manufactured goods classified chiefly by materials index in Luzon went up 0.9 percent from 0.1 percent as price increments were noticed in cement, flat bars, rubber tires and paper products. Paper and paperboard products were priced higher in Mindanao. Thus, the group's index in the area moved up by 0.2 percent. In Visayas, prices of manufactured goods classified chiefly by materials remained stable during the period. The national index grew by 0.8 percent.
    

  • The miscellaneous manufactured articles index in Luzon gained 0.5 percent due to price add-ons in selected camera, photographic films, wrist watches, footwear and some clothing items. In Mindanao, a 0.2 percent increment was posted in its group's index as prices of some footwear and clothing items and other miscellaneous manufactures were on the uptrend. On the other hand, downward adjustments in the prices of selected furniture and fixtures in Visayas pulled down the group's index by -0.1 percent. At the national level, the group's index moved higher at 0.4 percent from zero growth.
    

  • The machinery and transport equipment index in Luzon and in the Philippines inched up by 0.1 percent in November. This can be attributed to the upward adjustments in the prices of some dry cell batteries and other electrical apparatus in Luzon. Meanwhile, the monthly change in the group's index in Visayas and Mindanao was zero.
    

  • The food index in Mindanao dropped by -1.5 percent from a growth of 2.0 percent in October as lower prices of some food items such as rice, pork, selected fish species, and sugar were seen during the month. Reductions in the prices of poultry feeds and desiccated coconut were also recorded in the area. Price decreases in some fruits, vegetables, milk products and pork were noted in Visayas. Hence, the group's index in the area registered a negative rate at -0.4 percent. Moreover, lower prices of the same food items along with the decreases in prices of copra meal and desiccated coconut pushed down the group's index in Luzon by -0.1 percent. All these factors effected a -0.3 percent decline in the group's national index.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: January 25, 2012