Year-on-Year Growth Rates, All Items
October 2011 - October 2012

         p - pleminary
         r  - revised

Year-on-Year

•           The annual increase in the General Wholesale Price Index (GWPI) at the national level further decelerated to 1.2 percent in October from 2.2 percent in September. It resulted from a drop in the crude materials, inedible except fuels index at -16.7 percent in October from -14.7 percent in September. In addition, a slower annual growth was posted in the heavily-weighted food index at 0.9 percent from 4.1 percent. However, the annual rate registered in the manufactured goods classified chiefly by materials index went up to 2.2 percent from 2.1 percent and miscellaneous manufactured articles index, 1.7 percent from 1.6 percent. The other commodity groups retained their last month's rates.
   
  

• In Luzon, the annual gain in the GWPI eased to 1.4 percent in October from 2.5 percent in September. This can be attributed to a decline of 19.7 percent in the index of crude materials, inedible except fuels from -17.5 percent. A slower annual rate was also observed in the food index at 1.5 percent from 5.0 percent. The annual growths for the rest of the commodity groups either went up or remained at their respective last month's rates.
   
  

• Likewise, movement in the GWPI in Visayas improved to 1.1 percent in October from 1.4 percent in September. The annual adjustment in the manufactured goods classified chiefly by materials index was still negative at -0.2 percent from -0.4 percent. Moreover, slowdowns were noted in the food index at 0.9 percent from 1.5 percent; crude materials, inedible except fuels index, 5.4 percent from 8.2 percent; and mineral fuels, lubricants and related materials index, 2.8 percent from 2.9 percent. The chemicals including animal and vegetable oils and fats index gained 0.7 percent while the indices for beverages and tobacco and miscellaneous manufactured articles were still at their respective last month's rates of 2.6 percent and 0.1 percent. The machinery and equipment rental index had a zero growth.
   

• Similar movement was also seen in the GWPI in Mindanao as its annual uptick slid to 0.2 percent in October from 1.3 percent in September. The heavily-weighted food index went down by 3.1 percent from -0.3 percent. A slowdown was also noticed in the annual hike of mineral fuels, lubricants and related materials index at 1.1 percent from 1.2 percent and machinery and transport equipment index, 0.4 percent from 0.5 percent. Meanwhile, annual addition in crude materials, inedible except fuels index inched up 0.3 percent from -2.3 percent; manufactured goods classified chiefly by materials index, 4.3 percent from 4.0 percent; and miscellaneous manufactured articles index, 2.0 percent from 1.9 percent. The beverages and tobacco index moved at its last month's rate of 3.6 percent and chemicals including animal and vegetable oils and fats index, 3.1 percent.
   
  

• By Commodity Group, Month-on-Month

            Measured from a month ago level, wholesale prices of commodities at the national level registered a negative monthly rate of 0.8 percent in October from 0.3 percent in September. The following indices posted monthly decreases during the period: food, -1.0 percent from -0.6 percent; crude materials, inedible except fuels, -3.6 percent from -1.2; mineral fuels, lubricants and related materials, -1.7 percent from 2.0 percent; and chemicals including animal and vegetable oils and fats, -0.5 percent from -0.2 percent. The miscellaneous manufactured articles grew by 0.1 percent. The monthly change in manufactured goods classified chiefly by materials index remained at its last month's rate while the rest of the commodity groups had a zero growth.
   
  

  • Reductions in the price of copra pushed down the crude materials, inedible except fuels index in Luzon by 4.0 percent and in Visayas, -2.6 percent. On the other hand, price add-ons in bamboo effected the 2.6 percent increase in the group's index in Mindanao. At the national level, the group's index went down by 3.6 percent.
     
    

  • The 1.9 percent decline in the mineral fuels, lubricants and related materials index in Luzon was brought about by price rollbacks in gasoline, kerosene, diesel oil and crude oil. In Visayas, prices of petroleum products were also on the downtrend, thus, the group's index fell by 0.3 percent. The monthly adjustment in the group's index in the country was also at a negative rate of 1.7 percent. On the other hand, there were no changes seen in the prices of mineral fuels, lubricants and related materials in Mindanao as its index had a zero growth.
     
    

  • Lower prices of selected fruits, vegetables and some fish species resulted to a decrease of 1.0 percent in the food index in Luzon and in the Philippines; Visayas, -0.8 percent; and Mindanao, -0.9 percent. Price decreases in rice and sugar were likewise observed in Mindanao during the month.
     
    

  • In Luzon, the chemicals including animal and vegetable oils and fats index dropped by 0.6 percent during the month. This was brought about by the downward adjustment in the price of coconut oil. On the contrary, higher prices of selected paints in Mindanao and some washing and cleaning compounds in Visayas raised the group's index in the two areas by 0.1 percent. At the national level, movement in the group's index was recorded at -0.5 percent from -0.2 percent.
     
    

  • Increments in the prices of selected school supplies, candles and other miscellaneous manufactures were posted in Luzon. Thus, the miscellaneous manufactured articles index in the area grew by 0.1 percent. On the other hand, higher prices of PVC pipes, selected brand of wristwatch and plumbing fixtures were offsetted by the reductions in the prices of some paper products and school supplies in Mindanao, hence, a zero growth was seen in its group's index. Meanwhile, prices of miscellaneous manufactured articles in Visayas generally remained stable during the month. The group's national index rose 0.1 percent from zero growth.
     
    

  • Prices of wood, cement, G.I. sheets and other hardware items were up in Luzon. Similarly, deformed bars were priced higher in Visayas. These factors reflected a 0.1 percent growth in the manufactured goods classified chiefly by materials index in the two areas. In Mindanao, upward adjustments in the prices of paper and paper products and electrical conduit pipes pushed up its group's index by 0.3 percent. Movement in the group's index in the Philippines was registered at 0.1 percent.
     
    

  • The machinery and transport equipment in Visayas declined by 0.1 percent. The downtrend was caused by lower prices of some electrical appliances in the area. Meanwhile, prices of machinery and transport equipment in Luzon, Mindanao and at the national level generally remained stable during the month.
     
    

  • A zero growth was noted in the index of beverages and tobacco in the four areas.
     
    

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  Source:   National Statistics Office
                   Manila, Philippines
   
  Page last revised:   January 2, 2013