General Wholesale Price Index (1998=100) : January 2005
Release Date: 20 April 2005
Year-on-Year Inflation Rates, All Items
January 2004 - January 2005
r - revised
Year-on-year inflation rate based on the General Wholesale Price Index (GWPI) accelerated to 10.2 percent in January from 9.7 percent in December.
Inflation rate in Luzon advanced to 10.7 percent in January from 9.8 percent in December. Higher annual prices increases were observed in the prices of food items, 11.0 percent in January from 9.5 percent in December; beverages and tobacco, 4.8 percent from 3.7 percent; chemicals, including animal and vegetable oils and fats, 7.8 percent from 7.5 percent; manufactured goods classified chiefly by materials, 9.8 percent from 7.1 percent; machinery and transport equipment, 3.8 percent from 2.5 percent; and miscellaneous manufactured articles, 1.6 percent from 1.5 percent. On the other hand, annual movements in the prices of crude materials, inedible except fuels and mineral fuels, lubricants and related materials eased to 12.0 percent and 24.7 percent from 13.6 percent and 26.5 percent, respectively.
Inflation rate in Visayas decelerated to 5.5 percent in January from 5.8 percent in December. Annual gains in the prices of food items improved to 4.6 percent in January from 5.0 percent in December; crude materials, inedible except fuels, 7.2 percent from 12.5 percent; and mineral fuels, lubricants and related materials, 25.3 percent from 29.8 percent. On the contrary, annual rates in the prices of beverages and tobacco grew to 0.8 percent from 0.2 percent; chemicals, including animal and vegetable oils and fats, 4.8 percent from 4.2 percent; manufactured goods classified chiefly by materials, 2.0 percent from 1.8 percent; and machinery and transport equipment, 0.7 percent from -0.8 percent. Inflation for miscellaneous manufactured articles remained at its last month's rate of 0.8 percent.
In Mindanao, inflation rate slowed to 11.4 percent in January from 12.0 percent in December. Inflation for food items moved up at slower rate of 12.1 percent in January from 15.1 percent in December; manufactured goods classified chiefly by materials, 8.0 percent from 12.5 percent; and machinery and transport equipment, 4.9 percent from 5.2 percent. Inflation were however, higher in the prices of the following commodity groups: beverages and tobacco, 9.1 percent from 7.0 percent; crude materials, inedible except fuels, 37.5 percent from 28.8 percent; mineral fuels, lubricants and related materials, 29.8 percent from 21.1 percent; chemicals, including animal and vegetable oils and fats, 10.9 percent from 8.3 percent; and miscellaneous manufactured articles, 7.0 percent from 6.9 percent.
By Commodity Group, Month-on-Month
Compared with December 2004, wholesale prices generally went up by 1.3 percent in January from 1.1 percent in December.
Upward adjustments in the prices of milk and selected fruits and vegetables raised the food index in the four areas: Philippines, 0.9 percent; Luzon, 1.1 percent; Visayas, 0.3 percent; and Mindanao, 0.2 percent.
Prices of cigarettes were up in Luzon and Mindanao. Similarly, higher prices of softdrinks in Visayas were also noted. Thus, the index for beverages and tobacco accelerated in the Philippines by 1.6 percent; Luzon, 1.2 percent; Visayas, 0.6 percent and Mindanao, 4.8 percent.
Increment in the price of bamboo caused the index of crude materials, inedible except fuels in Mindanao to grow by 5.6 percent. Downward movements in the prices of copra however contributed to the 0.9 percent drop in the group's index for Luzon and in the Philippines by 0.6 percent.
Reductions in the prices of gasoline and LPG pushed down the index of mineral fuels, lubricants and related materials in Visayas by 0.2 percent. On the other hand, higher price of Dubai Oil was posted in Luzon. Prices of petroleum products were also up in Mindanao. Thus, the group's index moved up by 0.8 percent in Luzon; Mindanao, 11.2 percent; and Philippines, 1.4 percent.
Add-ons in the prices of fertilizers, paints and selected medicines in Luzon brought about the 1.4 percent increase in its index for chemicals including animal and vegetable oils and fats. Likewise, the group's index in Visayas picked up by 0.7 percent due to the upward adjustments in the prices of coconut oil, varnish and laundry soap. The 0.5 percent growth in the group's index in Mindanao resulted from the gains in the prices of fertilizer and antibiotics. All these factors added up to the 1.1 percent uptick in the national index.
Higher prices of tire, lumber and plywood mainly effected the 3.7 percent growth in the group's index for manufactured goods classified chiefly by materials in Luzon. The group's index in Visayas also went up by 0.2 percent due to the gains in the prices of paper products. On the other hand, the group's index in Mindanao declined by 0.1 percent as prices of G.I. wire, cotton and glass decreased during the month. Overall, the group's index advanced by 3.0 percent.
Increases in the prices of electrical products triggered upward movements in the machinery and transport equipment index in the four areas; Philippines, 1.8 percent; Luzon, 2.2 percent; Visayas, 0.1 percent; and Mindanao, 0.1 percent.
The miscellaneous manufactured articles index rose by 0.1 percent in Luzon and 1.2 percent in Mindanao due to price additions in watch and photofilm. Thus, the overall index at the national level inched up by 0.2 percent.
Source: National Statistics Office
Page last revised: April 21, 2005
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