September 2010

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

p - pleminary
r - revised

Year-on-Year

• On an annual basis, the movement of the General Wholesale Price Index (GWPI) at the national level further slowed down to 3.6 percent in September from 3.7 percent in August. An annual decline was still recorded in the miscellaneous manufactured articles index at -0.1 percent from -0.2 percent. Moreover, slower annual price adjustments were correspondingly noted in the indexes of food and manufactured goods classified chiefly by materials at 4.4 percent and 0.9 percent from 5.9 percent and 1.3 percent, respectively. On the other hand, a higher annual price gain was observed in beverages and tobacco index at 3.0 percent from 2.8 percent; crude materials, inedible except fuels, 33.1 percent from 22.0 percent; mineral fuels, lubricants and related materials, 4.1 percent from 3.5 percent; and chemicals, including animal and vegetable oils and fats, 3.7 percent from 2.7 percent. The annual rate for machinery and transport equipment index remained at 1.0 percent.
  

• The annual price increment in the GWPI in Luzon went down to 3.2 percent in September from 3.5 percent in August. For five consecutive months, an annual price reduction of -0.7 percent was still posted in the index of miscellaneous manufactured articles. In addition, the annual growth rate in the food index eased to 3.5 percent from 5.6 percent and manufactured goods classified chiefly by materials, 0.9 percent from 1.2 percent. However, the annual growth rate in crude materials, inedible except fuels was higher at 35.8 percent from 24.0 percent; mineral fuels, lubricants and related materials, 3.6 percent from 3.2 percent; and chemicals, including animal and vegetable oils and fats, 5.0 percent from 3.7 percent. The annual growth in the indexes of beverages and tobacco and machinery and transport equipment were at their corresponding previous month's rates of 3.1 percent and 0.8 percent.
  

• On the other hand, the annual increase in the wholesale prices of commodities in Visayas jumped to 5.1 percent in September from 3.9 percent in August as annual price hikes were noted in the indexes of all the commodity groups except in chemicals, including animal and vegetable oils and fats. A higher annual rate was seen in the index of food at 7.8 percent from 6.8 percent; beverages and tobacco, 4.3 percent from 2.6 percent; crude materials, inedible except fuels, 29.7 percent from 18.8 percent; mineral fuels, lubricants and related materials, 5.8 percent from 2.7 percent; manufactured goods classified chiefly by materials, 0.9 percent from 0.8 percent; machinery and transport equipment, 2.7 percent from 2.5 percent; and miscellaneous manufactured articles, 1.2 percent from 1.0 percent. An annual price decline of -0.7 percent was still noticed in chemicals, including animal and vegetable oils and fats index.
  

• The annual wholesale prices in Mindanao moved at its last month's rate of 4.5 percent. An annual price addition was posted in the food index at 8.1 percent from 7.7 percent; machinery and transport equipment, 0.2 percent from 0.1 percent; and miscellaneous manufactured articles, 3.7 percent from 2.7 percent. However, slower annual price adjustments were noticed in the indexes of the following commodity groups: beverages and tobacco, 0.6 percent from 0.7 percent; mineral fuels, lubricants and related materials, 9.7 percent from 10.2 percent; and manufactured goods classified chiefly by materials, 1.0 percent from 1.8 percent. Moreover, negative annual rates were still posted in crude materials, inedible except fuels index at -6.5 percent and chemicals, including animal and vegetable oils and fats at -1.0 percent.
  

• By Commodity Group, Month-on-Month

  The month-on-month growth rate of wholesale prices at the national level dropped to -0.3 percent in September from 0.4 percent in August. It resulted from the downward price movements in the indexes of food at -0.4 percent from 1.1 percent; mineral fuels, lubricants and related materials, -1.7 percent from -0.8 percent; and manufactured goods classified chiefly by materials, -0.2 percent from 0.2 percent. A slower price increment was also recorded in the index of beverages and tobacco at 0.1 percent from 0.7 percent; chemicals, including animal and vegetable oils and fats, 0.8 percent from 1.1 percent; machinery and transport equipment and miscellaneous manufactured articles, 0.1 percent from 0.3 percent and 0.2 percent, respectively. Meanwhile, a higher monthly price increase was seen in the index of crude materials, inedible except fuels at 5.8 percent from 5.7 percent.
  

  • The decline in the index of mineral fuels, lubricants and related materials at -1.5 percent in Luzon was mainly due to price reductions in crude oil and petroleum products. On the contrary price hikes on these petroleum products raised the group's index in Visayas by 2.2 percent. Add-ons in the prices of some petroleum products were also noted in Mindanao. It resulted to a 0.1 percent increase in the group's index in the area but was slower than the 1.0 percent growth last month. At the national level, movement in the group's index further dropped to -1.7 percent from -0.8 percent.
    

  • Lower prices of selected fish species, fruits and vegetables correspondingly pushed down the food index in Luzon and Mindanao by -0.7 percent and -0.5 percent, respectively. A price decrease in chicken and meat in Luzon also contributed to the downward trend in the group's index in the area. Thus, a negative rate of 0.4 percent was recorded in the group's national index. Meanwhile, price increments in food items like sugar, spices and some fruits and vegetables caused a 1.2 percent rise in the group's index in Visayas
    

  • The manufactured goods classified chiefly by materials index in Luzon and in the Philippines went down by -0.2 percent. This can be attributed to price reductions in some construction materials like cement, steel bars and flat bars. On the other hand, a 0.1 percent increase in the group's index in Visayas was effected by higher prices of some paper products during the month. Meanwhile, no changes were observed in the group's index in Mindanao as it had a zero growth.
    

  • A 0.9 percent growth in the index of chemicals, including animal and vegetable oils and fats in Luzon was due to upward adjustment in the prices of selected pharmaceutical preparations, washing and cleaning compounds. However, prices of chemicals, including animal and vegetable oils and fats in Visayas and Mindanao generally remained stable during the period as their group's index had a zero growth. The group's index in the Philippines grew by 0.8 percent.
    

  • Uptick in the prices of some cigarettes in Visayas raised the beverages and tobacco index by 0.6 percent. Meanwhile, prices of beverages and tobacco in Luzon and Mindanao remained stable as their group's index had a zero growth. These factors resulted to a 0.1 percent gain in the group's national index.
    

  • The monthly price change in the index of machinery and transport equipment in Visayas at 0.2 percent was brought about by add-ons in the prices of some electrical apparatus. On the other hand, prices of machinery and transport equipment in Luzon and Mindanao generally remained stable. Thus, the group's index in the Philippines moved up at a slower rate of 0.1 percent.
    

  • A 0.1 percent increase in the miscellaneous manufactured articles index in Luzon was a result of price hikes in selected miscellaneous manufactures. Similarly, price additions on some photographic apparatus and selected watches resulted to a 0.2 percent increment in the group's index in Visayas. In Mindanao, prices of miscellaneous manufactured articles remained stable during the month. The national index rose by 0.1 percent from 0.2 percent.
    

  • Upward adjustment in the prices of copra contributed to a 9.2 percent increase in the index for crude materials, inedible except fuels in Visayas and 5.7 percent in Luzon. Price increments in abaca and gravel were also noticed in Luzon. Meanwhile, no adjustments were registered in the prices of crude materials, inedible except fuels in Mindanao as its index had a zero growth. At the national level, the group's index inched up to 5.8 percent from 5.7 percent.
    

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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.