October 2010

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

p - pleminary
r - revised

Year-on-Year

• The year-on-year movement of the General Wholesale Price Index (GWPI) at the national level continued to decelerate to 3.0 percent in October from 3.6 percent in September. An annual price decline was still posted in miscellaneous manufactured index at -0.1 percent. In addition, slower annual price increases were correspondingly registered in food and mineral fuels, lubricants and related materials index at 2.1 percent and 4.0 percent from 4.4 percent and 4.1 percent, respectively. On the other hand, a higher annual growth rate was noted in the index of beverages and tobacco at 3.1 percent from 3.0 percent; crude materials, inedible except fuels, 35.4 percent from 33.1 percent; and chemicals, including animal and vegetable oils and fats, 4.5 percent from 3.7 percent. The growth for the index of manufactured goods classified chiefly by materials and machinery and transport equipment remained at their respective last month's rates of 0.9 percent and 1.0 percent.
  

• Wholesale prices of commodities in Luzon also eased to 2.5 percent in October from 3.2 percent in September. The annual movement in the miscellaneous manufactured articles index was still negative at -0.6 percent from -0.7 percent. Moreover, a slowdown was recorded in the annual price gain of food index at 0.6 percent from 3.5 percent. However, higher annual growth rates were noted in the indexes of the following commodity groups: beverages and tobacco, 3.2 percent from 3.1 percent; crude materials, inedible except fuels, 37.9 percent from 35.8 percent; chemicals, including animal and vegetable oils and fats, 6.1 percent from 5.0 percent; manufactured goods classified chiefly by materials, 1.0 percent from 0.9 percent; and machinery and transport equipment, 0.9 percent from 0.8 percent. The mineral fuels, lubricants and related materials index moved at its previous month's rate of 3.6 percent.
  

• On the other hand, the annual price adjustment in the GWPI in Visayas picked up to 5.6 percent in October from 5.1 percent in September. This can be attributed to higher rates in the food index at 8.9 percent in October from 7.8 percent in September; crude materials, inedible except fuels, 36.5 percent from 29.7 percent; manufactured goods classified chiefly by materials, 1.0 percent from 0.9 percent; and miscellaneous manufactured articles, 1.5 percent from 1.2 percent. Meanwhile, a slower annual growth rate was noticed in the mineral fuels, lubricants and related materials index at 5.7 percent from 5.8 percent. Moreover, the annual rate in the index of chemicals, including animal and vegetable oils and fats further dropped to -1.3 percent from -0.3 percent. The annual growth for the indexes of beverages and tobacco and machinery and transport equipment remained at their last month's rates.
  

• In Mindanao, the annual growth of wholesale prices eased to 4.2 percent in October from 4.5 percent as negative annual rates were still seen correspondingly in the indexes of crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats at -6.5 percent and -1.0 percent. Similarly, slower annual price gains were posted in the indexes of the following commodity groups: food (7.1% from 8.1%); manufactured goods classified chiefly by materials (0.7% from 1.0%); and miscellaneous manufactured articles (3.5% from 3.7%). Meanwhile, the annual price addition in beverages and tobacco index was higher at 1.4 percent from 0.6 percent. The annual price adjustments in the indexes of mineral fuels, lubricants and related materials and machinery and transport equipment were still at their last month's rates of 9.7 percent and 0.2 percent, respectively.
  

• By Commodity Group, Month-on-Month

  The monthly growth rate of the GWPI in the Philippines jumped to 0.4 percent in October from -0.2 percent in September as upward price movements were recorded in the index of food at 0.4 percent from -0.4 percent and mineral fuels, lubricants and related materials, 1.3 percent from -1.1 percent. However, a slower price movement was seen in the index of crude materials, inedible except fuels at 0.7 percent from 5.8 percent. Prices of beverages and tobacco, chemicals, including animal and vegetable oils and fats, manufactured goods classified chiefly by materials, machinery and transport equipment and miscellaneous manufactured articles remained stable as their group's index had a zero growth during the month.
  

  • The movement in mineral fuels, lubricants and related materials index at 1.3 percent in Luzon and 2.4 percent in Visayas was effected by price hikes in petroleum products during the month. Meanwhile, prices of mineral fuels, lubricants and related materials in Mindanao generally remained stable as its group's index had a zero growth. At the national level, the group's index also grew 1.3 percent.
    

  • The index of crude materials, inedible except fuels advanced to 0.4 percent in Luzon but was slower than the 5.7 percent increase last month. This was brought about by the increments in the prices of abaca and crushed gravel in the area. In Visayas, price gain in copra pushed up the group's index by 3.9 percent. Meanwhile, no movement was seen in the prices of crude materials, inedible except fuels in Mindanao as its index had a zero growth. The monthly price change at the national level moved at a slower rate of 0.7 percent from 5.8 percent.
    

  • Higher prices of selected fruits and vegetables, sugar, cooking oil and other miscellaneous foods were noticed in Luzon. It resulted to a 0.4 percent growth in the food index in the area. Likewise, an upward adjustment in the prices of eggs, selected fish species, fruits and vegetables raised the group's index in Mindanao by 0.7 percent. Moreover, add-ons in the prices of beef, some milk products, cooking oil, sugar and sardines in Visayas caused a 0.2 percent increase in the group's index, slower than the 1.2 percent growth last month. All these factors contributed to a 0.4 percent growth in the group's national index.
    

  • The monthly growth rate in manufactured goods classified chiefly by materials index in Visayas and Mindanao at 0.1 percent was brought about by price additions in selected paper and paperboard products in the two areas during the month. However, this was offsetted by the zero growth in the group's index in Luzon hence, a zero growth in the group's index was recorded at the national level.
    

  • A 0.1 percent increment was noted in the chemicals, including animal and vegetable oils and fats index in Visayas as price increases were seen in selected paints. On the other hand, lower prices of some fertilizers pushed down the group's index in Mindanao by -0.1 percent. Meanwhile, prices of chemicals, including animal and vegetable oils and fats in Luzon remained stable as its index had a zero growth. Thus, these mixed price trends effected a zero growth in the group's index in the Philippines.
    

  • The miscellaneous manufactured articles index in Visayas registered a 0.3 percent growth in October. This was due to price add-ons in some watches and miscellaneous manufactures. On the contrary, a -0.2 percent drop in the group's index in Mindanao was due to downward price movement in selected office supplies in the area. Meanwhile, no changes were observed in the group's index in Luzon as it had a zero growth. The group's national index also posted a zero growth during the period.
    

  • Prices of selected electrical appliances were up in Mindanao, hence the machinery and transport equipment index in the area gained 0.1 percent. However, prices of machinery and transport equipment in Luzon and Visayas generally remained stable as its group's index had a zero growth. At the national level, movement in the group's index was also zero.
    

  • The index of beverages and tobacco index in the four areas had a zero growth during the month.
    

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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.