The year-on-year movement of the country's General Wholesale Price Index (GWPI) further dropped to -11.2 percent in July from -8.8 percent in June. This was due to the continued negative annual movements recorded in the indexes of the following commodity groups: crude materials, inedible except fuels at -32.5 percent in July from -31.0 percent in June; mineral fuels, lubricants and related materials, -36.6 percent from -31.4 percent; and chemicals, including animal and vegetable oils and fats, -1.2 percent from -0.7 percent. The annual rate of price adjustment in the machinery and transport equipment index was registered at -0.5 percent for four consecutive months. Moreover, the annual growth rate in the food index decelerated to 0.8 percent from 1.3 percent; beverages and tobacco, 2.0 percent from 2.4 percent; manufactured goods classified chiefly by materials, 1.4 percent from 2.8 percent; and miscellaneous manufactured articles, 2.3 percent from 2.4 percent.

The year-on-year movement of the General Wholesale Price Index (GWPI) in the Philippines further declined to -7.3 percent in May from -5.4 percent in April. This was mainly caused by the reductions in the annual rates in the index of crude materials, inedible except fuels (-26.4% from -26.6%) and mineral fuels, lubricants and related materials (-32.7% from -28.9%). The annual growth rate in the food index slowed down to 3.6 percent from 4.3 percent; beverages and tobacco, 2.6 percent from 3.1 percent; chemicals, including animal and vegetable oils and fats, 0.8 percent from 1.3 percent; and manufactured goods classified chiefly by materials, 4.7 percent from 5.7 percent. However, a higher annual growth rate was recorded in miscellaneous manufactured articles index at 2.4 percent from 2.3 percent while the annual price movement in machinery and transport equipment index remained at its last month's rate of -0.5 percent.

The annual growth rate of the General Wholesale Price Index (GWPI) at the national level continued a negative trend at -4.5 in March from -1.4 percent in February. Declines were noted in the annual growth rates of crude materials, inedible except fuels at -23.8 percent in March from -16.7 percent in February; mineral fuels, lubricants and related materials, -30.0 percent from -26.6 percent; and machinery and transport equipment, -0.7 percent from 1.9 percent. Similarly, slower annual price adjustments were posted in the following commodity groups: food, 7.0 percent from 10.8 percent; beverages and tobacco, 6.6 percent from 7.4 percent; chemicals, including animal and vegetable oils and fats, 0.6 percent from 3.5 percent; and manufactured goods classified chiefly by materials, 6.1 percent from 7.5 percent. The annual price change in miscellaneous manufactured articles remained at its previous month's rate of 2.3 percent.