Year-on-Year Growth Rates, All Items
September 2011 - September 2012

p - pleminary
r - revised

Year-on-Year

• The annual movement of the General Wholesale Price Index (GWPI) in the country went up at a slower pace of 2.2 percent in September from 2.6 percent in August. This was effected by the decline in the annual rate of crude materials, inedible except fuels index at -14.7 percent in September from -13.1 percent in August. Moreover, the annual gain in the food index eased to 4.1 percent from 5.5 percent and miscellaneous manufactured articles index, 1.6 percent from 1.7 percent. On the other hand, higher annual rates were recorded in the indices of the following commodity groups: beverages and tobacco, 2.1 percent from 1.8 percent; mineral fuels, lubricants and related materials, 2.5 percent from 2.1 percent; chemicals including animal and vegetable oils and fats, 0.1 percent from -0.2 percent; manufactured goods classified chiefly by materials, 2.1 percent from 2.0 percent; and machinery and transport equipment, 2.5 percent from 2.2 percent.
  

• In Luzon, the annual change in the GWPI also improved to 2.5 percent in September from 2.7 percent in August. The corresponding annual hikes in the indices of crude materials, inedible except fuels and chemicals including animal and vegetable oils and fats dropped by -17.5 percent and -0.4 percent from -15.6 percent and -0.7 percent, respectively. Likewise, slowdowns were registered in the food index at 5.0 percent from 6.4 percent and miscellaneous manufactured articles index, 1.7 percent from 1.8 percent. The annual increases in the rest of the commodity groups either grew or remained at their respective last month's rates.
  

• Similarly, the annual adjustment of the GWPI in Visayas slid to 1.4 percent in September from 1.5 percent in August. It resulted from the slower annual growth rates in the heavily-weighted food index (1.5% from 1.9%) and mineral fuels, lubricants and related materials (2.9% from 3.8%). Higher annual upticks were however posted in the indices of the other commodity groups while the indices for manufactured goods classified chiefly by materials and machinery and transport equipment still moved at -0.4 percent and 0.1 percent, respectively.
  

• The same trend was noticed in the GWPI in Mindanao as its annual growth slowed to 1.3 percent in September from 2.1 percent in August. The annual rate in the food index went down by -0.3 percent from 1.8 percent and crude materials, inedible except fuels index, -2.3 percent from -2.8 percent. Slower annual growths were also observed in the following indices: mineral fuels, lubricants and related materials, 1.2 percent from 1.7 percent; chemicals including animal and vegetable oils and fats, 3.1 percent from 3.4 percent; manufactured goods classified chiefly by materials, 4.0 percent from 4.1 percent; and machinery and transport equipment, 0.5 percent from 0.6 percent. The same previous month's rates were seen in the indices of beverages and tobacco and miscellaneous manufactured articles at 3.6 percent and 1.9 percent, respectively.
  

• By Commodity Group, Month-on-Month

  At the national level, wholesale prices rose 0.3 percent in September. This was however slower than its last month's rate of 1.8 percent. Monthly decreases were recorded in the food index at -0.6 percent from 1.7 percent; crude materials, inedible except fuels index, -1.2 percent from -3.9 percent; and chemicals including animal and vegetable oils and fats index, -0.2 percent from -0.6 percent. Moreover, the mineral fuels, lubricants and related materials index decelerated to 2.0 percent from 5.8 percent. The indices of beverages and tobacco and machinery and transport equipment picked up by 0.2 percent and manufactured goods classified chiefly by materials index, 0.1 percent. The monthly change in miscellaneous manufactured articles index was still zero.
  

  • Reduction in the prices of copra pushed down the crude materials, inedible except fuels index in Luzon by -1.4 percent and Visayas, -1.1 percent. A downward movement in the price of abaca was also noted in Luzon during the period. However, increments in the prices of charcoal, sand, gravel and pebbles in Mindanao effected a 1.5 percent rise in its group's index. At the national level, the group's index went down by -1.2 percent.
    

  • A decline in the food index in Luzon at -0.5 percent and in Mindanao, -1.9 percent can be attributed to lower prices of selected fruits and vegetables and some fish species in the two areas. Lower prices of sugar and desiccated coconut in Mindanao also contributed to the downtrend. On the other hand, higher prices of eggs, milk and milk products, rice and some fruits raised the group's index in Visayas by 0.6 percent. The group's national index declined by -0.6 percent.
    

  • The index for chemicals including animal and vegetable oils and fats index in Luzon and in the Philippines registered a negative monthly rate of -0.2 percent. Coconut oil and other chemical products were priced lower in Luzon during the month. On the contrary, the 0.2 percent gain in the group's index in Visayas was brought about by higher prices of selected pharmaceutical products. In Mindanao, prices of chemicals including animal and vegetable oils and fats generally remained stable during the month as its group's index had a zero growth.
    

  • Upward adjustments in the prices of gasoline, fuel oil, LPG and crude oil pulled up the mineral fuels, lubricants and related materials index in Luzon by 2.4 percent and in the Philippines, 2.0 percent. On the other hand, lower prices of LPG caused the -0.5 percent deceleration in the group's index in Mindanao. In Visayas, rollbacks in kerosene and diesel oil effected a -0.2 percent drop in its group's index.
    

  • The 1.4 percent monthly change in beverages and tobacco index in Visayas was due to add-ons in the prices of selected softdrinks. Price upticks were also observed in some alcoholic beverages in Luzon. Hence, the group's index in the area inched up to 0.1 percent. However, prices of beverages and tobacco in Mindanao generally remained stable during the reference month. All these factors reflected a 0.2 percent increase in the group's national index.
    

  • In Luzon, price increments in selected apparatus and appliances raised the machinery and transport equipment index by 0.3 percent. Meanwhile, prices of machinery and transport equipment items in Visayas and Mindanao were stable as the group's index in the two areas had a zero growth. The group's index in the Philippines climbed 0.2 percent.
    

  • A 0.2 percent gain in manufactured goods classified chiefly by materials index was noticed in Mindanao as prices of rubber tube, some paper products, hollow blocks and concrete pipes were on the uptrend during the month. Moreover, price additions in cement, hollow blocks, concrete pipes and cyclone wire were recorded in Luzon along with the price hikes in rubber tire and woven fabrics in Visayas. Thus, movement in the group's index in the two areas and in the Philippines was posted at 0.1 percent.
    

  • The miscellaneous manufactured articles index in Visayas grew by 0.1 percent. It resulted from upward adjustment in the prices of selected furniture and fixtures in the area. Meanwhile, no changes were noted in the prices of miscellaneous manufactured articles in Luzon and Mindanao. At the national level, the group's index had a zero growth.