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

Reference Number: 174
Release Date: 10 June 2005

 


March 2005



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

 

 

 


         Month             Philippines            Luzon               Visayas           Mindanao    
         
  2004        
  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 10.3r  10.8r  5.4r  11.4  
  February 10.2r 10.9r 5.1r 9.8
  March 10.2 11.0 5.2 8.0

         r - revised
 

  • Year-on-Year

    Year-on-year inflation rate based on the General Wholesale Price Index (GWPI) was registered at 10.2 percent in March.

    Higher annual inflation rates were noted in the prices of beverages and tobacco, 7.1 percent in March from 6.5 percent in February; mineral fuels, lubricants and related materials, 30.2 percent from 28.5 percent; and miscellaneous manufactured articles, 3.4 percent from 3.0 percent. However, slower annual rates of increments were seen in the prices of food items, 7.9 percent from 8.1 percent; crude materials, inedible except fuels, -0.1 percent from 5.4 percent; chemicals, including animal and vegetable oils and fats, 6.8 percent from 8.5 percent; manufactured goods classified chiefly by materials, 7.8 percent from 8.1 percent; and machinery and transport equipment, 5.0 percent from 5.2 percent.

    • Inflation rate in Luzon slightly increased to 11.0 percent in March from 10.9 percent in February. Higher annual price hikes were observed in food items at 8.9 percent in March from 8.7 percent in February; beverages and tobacco, 7.8 percent from 7.0 percent; mineral fuels, lubricants and related materials, 30.8 percent from 29.1 percent; and miscellaneous manufactured articles, 3.0 percent from 2.7 percent. On the other hand, annual slower positive price adjustments were correspondingly seen in chemicals, including animal and vegetable oils and fats and manufactured goods classified chiefly by materials, 6.5 percent and 8.4 percent from 8.7 percent. Moreover, negative annual rate of 1.3 percent was posted in the price of crude materials, inedible except fuels. Inflation for machinery and transport equipment remained at its February's rate of 6.0 percent. 
       

    • Inflation rate in Visayas slightly grew to 5.2 percent in March from 5.1 percent in February. Annual gains in the prices of beverages and tobacco rose to 0.4 percent from 0.2 percent; mineral fuels, lubricants and related materials, 25.5 percent from 23.0 percent; chemicals, including animal and vegetable oils and fats, 4.9 percent from 4.8 percent; and miscellaneous manufactured articles, 1.2 percent from 0.8 percent. On the contrary, annual rate of increases in the prices of food items improved to 4.4 percent from 4.5 percent while that for manufactured goods classified chiefly by materials and machinery and transport equipment were still recorded at 1.8 percent and 0.7 percent, respectively. Inflation for crude materials, inedible except fuels was zero from 6.5 percent. 
       

    • In Mindanao, year-on-year inflation rate decelerated to 8.0 percent in March from 9.8 percent in February. Slower annual inflation rates were noticed in the prices of food items, 4.7 percent in March from 9.0 percent in February; beverages and tobacco, 9.0 percent from 9.5 percent; crude materials, inedible except fuels, 34.4 percent from 36.0 percent; chemicals, including animal and vegetable oils and fats, 10.0 percent from 10.9 percent; manufactured goods classified chiefly by materials, 7.3 percent from 8.0 percent; and machinery and transport equipment, 2.6 percent from 3.4 percent. However, higher inflation rates were correspondingly observed in the prices of mineral fuels, lubricants and related materials and miscellaneous manufactured articles at 27.0 percent and 8.3 percent from 25.6 percent and 8.2 percent.

  • By Commodity Group, Month-on- Month

    The month-on-month inflation at the national level picked up by 0.2 percentage point to 1.1 percent in March from 0.9 percent in February.

    • Add-ons in the prices of fish, selected fruits and vegetables, tubers and rootcrops triggered upward movements in the food indices in the four areas: Philippines, 0.6 percent; Luzon, 0.6 percent; Visayas, 0.1 percent; and Mindanao, 0.4 percent. 
       

    • Increments in the prices of selected liquors and cigarettes in Luzon along with higher prices of softdrinks in Visayas and upward adjustments in the prices of brewery and malt products in Mindanao pushed up the index for beverages and tobacco in the Philippines by 0.7 percent; Luzon, 0.8 percent; Visayas, 0.3 percent and Mindanao, 0.3 percent. 
       

    • Additions in the price of copra caused the index of crude materials, inedible except fuels in Luzon to grow by 0.3 percent. Increases in the prices of bamboo, sand and gravel, and pebbles also contributed to the increment in the group's index in Mindanao of 3.9 percent. Meanwhile, the group's index in Visayas registered a zero growth. The national index moved up by 0.4 percent. 
       

    • The continued upward adjustments in the prices of petroleum products raised the group's index for mineral fuels, lubricants and related materials in the four areas: Philippines, 4.4 percent; Luzon, 4.9 percent; Visayas, 1.9 percent; and Mindanao, 1.1 percent. 
       

    • The chemicals, including animal and vegetable oils and fats index in Luzon rose by 0.2 percent due to uptick in the prices of coconut oil, paints and antibiotics. Similarly, the group's index in Visayas slightly moved up by 0.1 percent due to higher prices of paints and varnishes while a 0.3 percent growth in the group's index in Mindanao resulted from the price gains in fertilizer and antibiotics. All these factors added up to the 0.2 percent increase in the national index. 
       

    • Price hikes in lumber, plywood, cement, tiles and G.I. wire mainly effected the 0.3 percent growth in the group's index for manufactured goods classified chiefly by materials in Luzon. Likewise, in Mindanao the index also went up by 1.8 percent brought about by the price additions in paper products, cement, and glass and glass products. Meanwhile, prices of manufactured goods classified chiefly by materials in Visayas generally remained stable during the month as its group's index still recorded a zero growth. Overall, the group's national index advanced by 0.5 percent.
       

    • The index for machinery and transport equipment in Mindanao grew by 0.1 percent due to the increments in the prices of radio and electric bulbs. On the other hand, the group's index in the Philipines, Luzon and Visayas registered zero growth during the month. 
       

    • Higher prices of office and school supplies pulled up the miscellaneous manufactured articles index in the Philippines by 0.4 percent; Luzon, 0.3 percent; Visayas, 0.4 percent; and Mindanao, 0.5 percent.


    Source:   National Statistics Office
                     Manila, Philippines

     
    Page last revised:   June 10, 2005


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