General Wholesale Price Index (1998=100) : February 2005

Reference Number: 174
Release Date: 21 April 2005

 


February 2005



Year-on-Year Inflation Rates, All Items
February 2004 - February 2005

 

 

 

 


         Month             Philippines            Luzon               Visayas           Mindanao    
         
  2004        
  February   5.0   5.1   1.6r 7.8  
  March   6.5   6.6   2.0r 10.3
  April   7.7   7.7   3.3r 11.4r
  May   8.2   8.5   3.4   11.5  
  June   9.2   9.3   4.9   13.5  
  July   9.5   9.5   4.4   13.9  
  August   9.8   10.0   4.8   12.4  
  September   9.8   10.3   5.3   10.9  
  October   10.4   10.8   5.6   11.4  
  November   9.8   10.2   5.9   11.3  
  December   9.7   9.8   5.8   12.1  
         
  2005        
  January 10.0   10.4   5.5   11.4  
  February 9.7 10.2 5.3 9.8

         r - revised
 

  • Year-on-Year

    Year-on-year inflation rate based on the General Wholesale Price Index (GWPI) went up at a slower rate of 9.7 percent in February from 10.0 percent in January.

    The annual rate of increment in the prices of food items slowed to 8.1 percent in February from 10.4 percent in January; crude materials, inedible except fuels, 5.4 percent from 13.1 percent; and manufactured goods classified chiefly by materials, 8.2 percent from 8.3 percent. On the other hand, inflation rate for beverages and tobacco accelerated to 6.6 percent from 4.8 percent; mineral fuels, lubricants and related materials, 25.2 percent from 24.3 percent; chemicals, including animal and vegetable oils and fats, 8.5 percent from 7.7 percent; machinery and transport equipment, 5.2 percent from 3.6 percent; and miscellaneous manufactured articles, 3.0 percent from 2.0 percent.

    • Similarly, inflation rate in Luzon was slower at 10.2 percent in February from 10.4 percent in January. This resulted as inflation rates for crude materials, inedible except fuels eased by 8.6 percentage points (4.2 percent from 12.8 percent); food, 8.7 percent from 11.0 percent; and manufactured goods classified chiefly by materials, 8.7 percent from 8.9 percent. On the contrary, inflation for beverages and tobacco rose to 7.0 percent from 4.8 percent; mineral fuels, lubricants and related materials, 25.4 percent from 23.9 percent; chemicals including animal and vegetable oils and fats, 8.7 percent from 7.8 percent; machinery and transport equipment, 6.0 percent from 3.8 percent; and miscellaneous manufactured articles. 2.7 percent from 1.5 percent. 
       

    • Inflation rate in Visayas was noted at 5.3 percent in February from 5.5 percent in January as inflation for crude materials, inedible except fuels and mineral fuels, lubricants and related materials correspondingly improved to 6.5 percent and 23.0 percent from 7.2 percent and 25.3 percent. Inflation for the rest of the commodity groups remained at their last month's rates. 
       

    • In Mindanao, inflation rate also moved down to 9.8 percent in February from 11.4 percent in January. Slower annual rates were posted in the following commodity groups: food, 9.0 percent in February from 12.1 percent in January; crude materials, inedible except fuels, 36.0 percent from 37.5 percent; mineral fuels, lubricants and related materials, 25.6 percent from 29.8 percent; and machinery and transport equipment, 3.4 percent from 4.9 percent. Meanwhile, inflation for beverages and tobacco and miscellaneous manufactured articles advanced to 9.5 percent and 8.2 percent from their respective rates of 9.1 percent and 7.0 percent. Chemicals, including animal and vegetable oils and fats and manufactured goods classified chiefly by materials retained their January rates of 10.9 percent and 8.0 percent, respectively.

  • By Commodity Group, Month-on- Month

    The month-on-month inflation rate slowed down by 0.6 percentage point to 0.7 percent in February from 1.3 percent in January.

    • Lower prices of selected fish, fruits and vegetables mainly brought down the food index in the Philippines by -0.4 percent; Luzon, -0.5 percent; and Mindanao, -0.6 percent. On the other hand, increments in the prices of eggs and selected fruits and vegetables pulled up the group's index in Visayas by 0.2 percent. 
       

    • Uptick in the prices of brewery and malt products raised the index for beverages and tobacco in the Philippines by 1.7 percent; Luzon, 2.1 percent; and Mindanao, 0.3 percent. 
       

    • The index of crude materials, inedible except fuels for Luzon and in the Philippines correspondingly dropped by -2.9 percent and -2.5 percent due to the continuous decrease in the price of copra. Meanwhile, prices of crude materials, inedible except fuels in Visayas and Mindanao generally remained stable during the month as their group's index still posted a zero growth. 
       

    • The series of price additions of gasoline, kerosene and LPG pushed up the index of mineral fuels, lubricants and related materials in Luzon by 2.1 percent. Reductions in the prices of petroleum products in Visayas however, resulted to a 0.4 decline in its group's index. The group's index in Mindanao recorded a zero growth during the month. Overall, the national index picked up by 1.8 percent. 
       

    • Upward movements in the prices of fertilizer and selected medicines were noted in Luzon and Mindanao. These primarily brought up the group's index for chemicals, including animal and vegetable oils and fats in Luzon by 2.2 percent; Mindanao, 0.6 percent; and Philippines, 1.9 percent. 
       

    • Price hikes in plywood, cement, glass and glass products raised the index of manufactured goods classified chiefly by materials in Luzon by 0.6 percent; Mindanao, 0.2 percent; and Philippines, 0.5 percent. 
       

    • Increments in the prices of insulated electrical wire and wheels in Luzon caused its index for machinery and transport equipment to gain by 2.1 percent. On the other hand, the group's index in Mindanao dropped by 0.2 percent due to the decreases in the prices of battery and jeepney. At the national level, the index grew by 1.6 percent. 
       

    • Prices of selected textbooks, newspapers and office supplies were up in Luzon and Mindanao. Thus, the group's index for miscellaneous manufactured articles in Luzon went up by 1.4 percent; Mindanao, 0.1 percent; and Philippines, 1.1 percent.


    Source:   National Statistics Office
                     Manila, Philippines

     
    Page last revised:   May 31, 2005

 


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