Year-on-Year Inflation Rates, All Items
November 2006 - November 2007

         p - pleminary
         r - revised

Year-on-Year

• The year-on-year inflation rate of the General Wholesale Price Index (GWPI) at the national level advanced by 6.3 percent in November from 5.3 percent in October. Annual price increments were higher in crude materials, inedible except fuels at 19.5 percent in November from 18.6 percent in October; mineral fuels, lubricants and related materials, 18.2 percent from 11.5 percent; and miscellaneous manufactured articles, 1.1 percent from 0.9 percent. However, inflation for food slowed down to 2.6 percent from 3.5 percent; chemicals, including animal and vegetable oils and fats, 7.1 percent from 7.2 percent; and manufactured goods classified chiefly by materials, 4.5 percent from 5.0 percent. Inflation for beverages and tobacco moved at its last month's rate of 2.0 percent while machinery and transport equipment posted a zero growth.
   
  

• Similarly, inflation rate in Luzon accelerated to 6.3 percent in November from 5.3 percent in October. Faster annual rates were correspondingly noted in the prices of crude materials, inedible except fuels and mineral fuels, lubricants and related materials at 19.9 percent and 19.1 percent in November from their respective previous month's rates of 19.6 percent and 12.6 percent. On the other hand, the following commodity groups registered slower annual inflation rates: food items, 1.2 percent from 2.4 percent; chemicals, including animal and vegetable oils and fats, 7.6 percent from 7.7 percent; and manufactured goods classified chiefly by materials, 4.4 percent from 4.6 percent. Meanwhile, beverages and tobacco and miscellaneous manufactured articles retained their corresponding October rates of 1.5 percent and 0.8 percent while annual price adjustment in machinery and transport equipment further dropped to -0.6 percent from -0.4 percent.
   
  

• Annual inflation rate in Visayas was at 6.3 percent in November, higher than the 5.9 percent in October. Annual price increases were noticed in crude materials, inedible except fuels (24.6% from 15.2%), mineral fuels, lubricants and related materials (13.1% from 9.8%), machinery and transport equipment (1.8% from 1.7%), and miscellaneous manufactured articles (2.3% from 0.2%). Slower annual price adjustments were however observed in food items at 7.4 percent from 7.5 percent; chemicals, including animal and vegetable oils and fats, 4.4 percent from 4.8 percent; and manufactured goods classified chiefly by materials, 1.1 percent from 3.8 percent. Inflation rate of beverages and tobacco remained at 3.9 percent.
   
  

• In Mindanao, inflation rate picked up to 5.8 percent in November from 4.5 percent in October. The year-on-year inflation rate of beverages and tobacco was higher at 4.0 percent from 3.4 percent; mineral fuels, lubricants and related materials, 7.3 percent from -5.6 percent; and chemicals, including animal and vegetable oils and fats, 6.1 percent from 4.9 percent. On the other hand, slower annual price gains were seen in the following commodity groups: food items, 7.2 percent from 7.6 percent; crude materials, inedible except fuels, 2.4 percent from 3.5 percent; manufactured goods classified chiefly by materials, 7.6 percent from 8.2 percent; machinery and transport equipment, 1.9 percent from 2.0 percent; and miscellaneous manufactured articles, 2.9 percent from 3.0 percent.
   
  

• By Commodity Group, Month-on-Month

            The general level of the wholesale prices of commodities nationwide moved up by 0.8 percent in November, slower than the 1.1 percent growth in October.
   
  

  • The downward price adjustments of selected food items such as beef, fish, fruits, vegetables, tubers and root crops in Luzon and Visayas along with the decreases in prices of copra meal and desiccated coconut in Luzon resulted to the 0.4 percent drop in its group index in the area and -0.5 percent in Visayas. Meanwhile, add-ons in the prices of eggs, sugar, coconut oil and selected fruits and vegetables raised the group's index in Mindanao by 0.1 percent, slower than its previous month's rate of 0.2 percent. At the national level, the group's index declined by -0.3 percent.
     
    

  • Prices of beverages and tobacco in the country generally remained stable during the month as their group's index posted a zero growth.
     
    

  • Higher prices of copra pulled up the index for crude materials, inedible except fuels in Visayas by 8.0 percent. In Mindanao, add-ons in the prices of this commodity along with the price hikes in bamboo, charcoal and crushed gravel pushed the group's index in the area by 1.1 percent. Similarly, upward price adjustment in abaca was seen in Luzon. The group's index in the area and in the Philippines correspondingly moved up to 2.8 percent and 3.2 percent, slower than their respective rates of 5.1 percent and 4.4 percent in October.
     
    

  • Increases in the prices of crude petroleum oil and petroleum products were noticed in Luzon. The index for mineral fuels, lubricants and related materials in the area and in the Philippines rose to 4.0 percent and 3.9 percent, respectively. Likewise, the group's index in Mindanao advanced by 1.3 percent due to price add-on in LPG. The index for mineral fuels, lubricants and related materials in Visayas gained by 3.0 percent, lower than its previous month's growth rate of 3.5 percent.
     
    

  • The index for chemicals, including animal and vegetable oils and fats in the Philippines and in Luzon correspondingly went up by 0.3 percent and 0.5 percent, due to the upward movements in the prices of coconut oil and fertilizer. This was however slower than their corresponding last month's rates of 0.9 and 1.2 percent. Movements in the prices of chemicals, including animal and vegetable oils and fats in Visayas and Mindanao generally remained stable during the month.
     
    

  • Price hikes in selected paper products caused the index for manufactured goods classified chiefly by materials in Mindanao to grow by 0.1 percent. Meanwhile, no price movement was observed in the three areas as zero growth was recorded in their monthly rate of change.
     
    

  • A 0.1 percent decline in the index for machinery and transport equipment was observed in Luzon and at the national level due to the reduction in the prices of selected appliances, electrical wirings and fixtures. Prices of machinery and transport equipment in Visayas and Mindanao however have a zero growth rate during the month.
     
    

  • Upward adjustments in the prices of selected footwear pulled up the miscellaneous manufactured articles index in Mindanao by 0.2 percent. Similarly, the group's index in Luzon went up by 0.1 percent for four consecutive months brought about by the continued increments in the prices of selected musical instruments. Prices of manufactured articles in Visayas generally moved at their previous month's price levels. The overall index increased at its last month's rate of 0.1 percent.
     
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  NOTE :

  Revisions of the series from January to July 2007 were made due to the updated price reports on asphalt and the implementation of new rental rates on machinery and transport equipment provided by the official sources.

   

  
  

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  Source:   National Statistics Office
                   Manila, Philippines
   
  Page last revised:   February 8, 2008