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

Year-on-Year

• The annual movement in the country's General Wholesale Price Index (GWPI) was -0.6 percent in November from 1.2 percent in October. This was effected by the annual reduction in crude materials, inedible except fuels index at -26.1 percent in November from -16.7 percent in October; mineral fuels, lubricants and related materials index, -3.1 percent from 2.5 percent; and chemicals including animal and vegetable oils and fats, -2.9 percent from 0.1 percent. Moreover, the annual gains in the indices of the following commodity groups slowed down during the month: beverages and tobacco, 1.5 percent from 2.1 percent; machinery and transport equipment, 2.4 percent from 2.5 percent; manufactured goods classified chiefly by materials and miscellaneous manufactured articles, 1.4 percent from 2.2 percent and 1.7 percent, respectively. A higher annual increment was however posted in the food index at 1.5 percent from 0.9 percent.
   

• The wholesale prices of commodities in Luzon went down by 0.9 percent in November from 1.4 percent in October. Annual declines were noted in crude materials, inedible except fuels index at -29.8 percent from -19.7 percent; mineral fuels, lubricants and related materials index, -3.5 percent from 2.6 percent; and chemicals including animal and vegetable oils and fats index, -4.1 percent from -0.4 percent. In addition, slower annual hikes were recorded in the indices of beverages and tobacco and manufactured goods classified chiefly by materials at 1.1 percent from 1.8 percent and 2.1 percent, respectively; and miscellaneous manufactured articles, 1.4 percent from 1.8 percent. On the other hand, the food index rose 1.9 percent from 1.5 percent while the index for machinery and transport equipment retained its last month's rate of 3.1 percent.
   

• In Visayas, the annual increase in the GWPI eased to 0.5 percent in November from 1.1 percent in October. The annual change in mineral fuels, lubricants and related materials index dropped by 1.2 percent from 2.8 percent. Likewise, the annual increment in crude materials, inedible except fuels index improved to 1.6 percent from 5.4 percent. Meanwhile, the food index grew by 1.6 percent from 0.9 percent. Growths in the rest of the commodity groups were still at their last month's rates while movement in machinery and transport equipment index was zero.
   

• On the contrary, the GWPI in Mindanao moved at a faster pace as it registered an annual growth of 1.1 percent in November from 0.2 percent in October. The annual adjustment in mineral fuels, lubricants and related materials index advanced 2.5 percent from 1.1 percent and manufactured goods classified chiefly by materials index, 4.4 percent from 4.3 percent. Slower annual rates were noticed in the indices of the other commodity groups while those for crude materials, inedible except fuels and chemicals including animal oils and fats moved at their respective last month's rates of 0.3 percent and 3.1 percent.
   

• By Commodity Group, Month-on-Month

  A negative monthly adjustment was still posted in the wholesale prices of commodities at the national level at 0.4 percent in November from -0.8 percent in October. Movement in the corresponding indices of crude materials, inedible except fuels and chemicals including animal and vegetable oils and fats further dropped by 4.6 percent and 0.6 percent from -3.6 percent and -0.5 percent, respectively. However, the heavily-weighted food index gained 0.3 percent from -1.0 percent and beverages and tobacco index, 0.1 percent from zero growth. The monthly change in mineral fuels, lubricants and related materials index remained at its last month's rate of -1.7 percent while the rest of the commodity groups had a zero growth.
   

   

  Reductions in the prices of copra were noticed in Luzon and in Visayas. Thus, the crude materials, inedible except fuels index in the two areas correspondingly decreased by 5.0 percent and 3.6 percent. Lower prices of abaca in Luzon also contributed to the downward trend. On the other hand, prices of crude materials, inedible except fuels in Mindanao generally remained stable as its index had a zero growth. At the national level, the group's index went down by 4.6 percent.
   

  The decline in the indices of mineral fuels, lubricants and related materials in Luzon at 1.6 percent and in Visayas at 3.9 percent was attributed to the price roll backs in petroleum products during the month. However, higher prices of LPG in Mindanao raised its groupsÒ index by 0.6 percent. In the Philippines, the index retained its last month's rate of -1.7 percent.
   

  Downward adjustments in the prices of coconut oil pushed down the chemicals including animal and vegetable oils and fats index in Luzon by 0.8 percent. Lower prices of selected roofing paints and vulcanizing cement also effected a 0.1 percent drop in its group's index in Mindanao. Meanwhile, add-ons in the prices of some pharmaceutical products in Visayas resulted to a 0.1 percent growth in its group's index. The monthly rate in the group's national index was recorded at -0.6 percent.
   

  Price hikes in food items such as selected fruits and vegetables, some fish species, milk and milk products, canned goods, spices and condiments pushed up the food index in the four areas: Philippines, Luzon and Mindanao, 0.3 percent; and Visayas, 0.2 percent.
   

  A 0.3 percent increase in the beverages and tobacco index in Mindanao was brought about by the price upticks of selected softdrinks in the area. Meanwhile, prices of beverages and tobacco in Luzon and Visayas generally remained stable as its group's index had a zero growth. The group's national index inched up 0.1 percent.
   

  Increments in the prices of G.I. pipes and paper products were observed in Mindanao. Thus, the manufactured goods classified chiefly by materials index in the area grew by 0.3 percent. In Visayas, add-on in the price of rubber tire effected a 0.1 percent growth in its group's index. On the other hand, higher prices of panel doors, cement, paper products in Luzon were offsetted by the price decreases in wood, steel bars and G.I. wire hence, a zero growth was seen in its group's index. The monthly movement in the group's national was zero.
   

  The machinery and transport equipment in Luzon grew by 0.1 percent due to higher prices of some electrical apparatus in the area. Meanwhile, lower prices of some insulated electrical wires in Mindanao pushed down the group's index by 0.2 percent. In Visayas, no movement was seen in the group's index. These factors resulted to a zero growth in the group's national index.
   

  A 0.1 percent rise in the miscellaneous manufactured articles index in Mindanao was due to price additions in selected office supplies. Meanwhile, a zero growth was noted in the group's index in Luzon, Visayas and at the national level.
   

  Notes:

1. GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
2. Survey reports from Davao City were only received on January 15, 2013.