September 2011

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

p - preliminary
r - revised

Year-on-Year

The year-on-year movement in the General Wholesale Price Index (GWPI) of the country went up to 9.2 percent in September from 8.3 percent in August. It resulted from a higher annual increment posted in the index of food at 5.2 percent in September from 4.0 percent in August; mineral fuels, lubricants and related materials, 28.0 percent from 24.6 percent; and manufactured goods classified chiefly by materials, 3.3 percent from 3.0 percent. However, the annual rates in the indexes of the following commodity groups slowed down during the month: crude materials, inedible except fuels, 4.1 percent from 9.5 percent; chemicals, including animal and vegetable oils and fats and machinery and transport equipment, 1.5 percent from 2.7 percent and 1.6 percent, respectively; and miscellaneous manufactured articles, 4.4 percent from 4.5 percent. The annual growth in the beverages and tobacco index remained at 6.6 percent.

• The annual increase in the wholesale prices of commodities in Luzon rose 10.5 percent in September from 9.3 percent in August. This can be attributed to an upward annual adjustment in the food index at 6.6 percent from 4.9 percent; mineral fuels, lubricants and related materials, 30.2 percent from 26.2 percent; and manufactured goods classified chiefly by materials, 3.2 percent from 2.9 percent. Meanwhile, the annual gain in crude materials, inedible except fuels index was slower at 4.8 percent in September from 9.9 percent in August; chemicals, including animal and vegetable oils and fats, 0.8 percent from 2.3 percent; and machinery and transport equipment, 1.0 percent from 1.1 percent. The indexes of beverages and tobacco and miscellaneous manufactured articles correspondingly moved at their last month's rate of 7.2 percent and 4.8 percent.
  

• On the other hand, the annual change in the GWPI in Visayas eased to 4.2 percent in September from 4.9 percent in August. Negative annual rates were correspondingly recorded in the indexes of food and crude materials, inedible except fuels at -0.4 percent and -1.3 percent from zero growth and 10.4 percent, respectively. Lower annual rates were also noted in the indexes of beverages and tobacco at 5.9 percent from 6.5 percent; mineral fuels, lubricants and related materials, 19.3 percent from 21.0 percent; manufactured goods classified chiefly by materials, 3.6 percent from 3.7 percent; machinery and transport equipment, 3.4 percent from 3.6 percent; and miscellaneous manufactured articles, 1.5 percent from 1.7 percent. However, the annual rate in chemicals, including animal and vegetable oils and fats index was recorded at 3.3 percent, higher than the 3.2 percent in August.
  

• Compared to its last month's rate of 2.8 percent, the annual hike in the GWPI in Mindanao grew by 3.1 percent in September. This was effected by the higher annual rates in the indexes of the following commodity groups: food and crude materials, inedible except fuels, 1.9 percent from 1.3 percent and 0.9 percent, respectively; chemicals, including animal and vegetable oils and fats, 4.6 percent from 4.3 percent; manufactured goods classified chiefly by materials, 3.9 percent from 3.6 percent; and machinery and transport equipment, 3.1 percent from 3.0 percent. Meanwhile, the annual growth in mineral fuels, lubricants and related materials slid to 4.3 percent from 4.4 percent. The annual movement in the indexes for beverages and tobacco and miscellaneous manufactured articles were still at their respective last month's rates of 3.0 percent and 4.5 percent.
  

• By Commodity Group, Month-on-Month

  On a monthly basis, the growth of the GWPI at the national level jumped by 1.4 percentage points to 0.6 percent in September from -0.8 percent in August. This was mainly due to an upward movement in the index of mineral fuels, lubricants and related materials (1.5% from -1.0%); food (0.7% from 0.1%); and crude materials, inedible except fuels (0.6% from -14.9%). However, a negative monthly rate was seen in the index of chemicals, including animal and vegetable oils and fats at - 0.4 percent from -2.5 percent and machinery and transport equipment, -0.1 percent from zero growth. The monthly movement in the beverages and tobacco index was zero while those for manufactured goods classified chiefly by materials and miscellaneous manufactured articles remained at their last's month's rate of 0.1 percent.
  

  • Price hikes on petroleum products correspondingly pushed up the mineral fuels, lubricants and related materials index in Luzon and Visayas by 1.7 percent and 0.7 percent. Prices of crude oil also increased in Luzon during the month. In Mindanao, prices of mineral fuels, lubricants and related materials remained stable during the month. From -1.0 percent, the monthly growth of the group's index at the national level accelerated to 1.5 percent.
    

  • Higher prices of some food items such as meat, selected fruits and vegetables, some fish species, canned sardines, tonic food drinks and selected spices and seasonings raised the food index in the four areas: Luzon and Visayas, 0.9 percent from 0.2 percent and -0.3 percent; Mindanao, 0.2 percent from 0.1 percent; and in the Philippines, 0.7 percent from 0.1 percent.
    

  • The 0.8 percent growth in the index of crude materials, inedible except fuels in Luzon was brought about by the increases in the prices of copra, sand and gravel during the month. Price additions on bamboo were also seen in Mindanao, thus, its group's index inched up to 1.0 percent from 0.9 percent. However a negative rate of -2.5 percent was noted in the group's index in Visayas as lower prices of copra were still observed in the area during the month. At the national level, the monthly change in the group's index advanced 0.6 percent from -14.9 percent in August.

  • A 0.3 percent gain in manufactured goods classified chiefly by materials index in Mindanao was due to upward movement in the prices of deformed and flat bars, woven fabrics and some glass products. In Luzon, higher prices of selected construction materials and wood products contributed to a 0.1 percent increment in its group's index. Similarly, prices of selected paper products and cotton yarn were up in Visayas thereby resulting to a 0.1 percent uptick in the group's index. For three consecutive months, the group's index in the Philippines moved at 0.1 percent.

  • Price additions were recorded in selected plumbing fixtures in Luzon. Hence, the miscellaneous manufactured articles index in the area and at the national level grew by 0.1 percent. In Visayas and Mindanao, prices of miscellaneous manufactured articles remained stable during the month.
    

  • The chemicals, including animal and vegetable oils and fats index in Mindanao moved up to 0.3 percent from zero growth. This was attributed to add-ons in the prices of selected fertilizers and pharmaceutical products during the period. Moreover, a 0.1 percent increase in the group's index was noticed in Visayas. It resulted from an upward movement in the prices of selected painting materials, washing compounds and cosmetics, but this was slower than its last month's rate of 1.1 percent. However, a decline of -0.5 percent was posted in the group's index in Luzon as prices of coconut oil were on the downward trend. These factors effected a -0.4 percent decrease in the group's national index.
    

  • From zero growth, the machinery and transport equipment index in Mindanao went up to 0.1 percent as monthly price increments were observed in some storage batteries in the area. Meanwhile, a decrease in prices of selected electrical apparatus and fixtures in Luzon pushed down the group's index by -0.1 percent. In Visayas, no changes were posted in the prices of machinery and transport equipment as its index had a zero growth. At the national level, the monthly adjustment in the group's index dropped to -0.1 percent.
    

  • Prices of beverages and tobacco in the four areas remained stable during the month as its index had a zero growth.

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  Source: National Statistics Office
  Manila, Philippines
  
  Page last revised: November 24, 2011