General Wholesale Price Index (1998=100) : November 2017

Reference Number: 

2018-011

Release Date: 

Friday, January 12, 2018

GENERAL WHOLESALE PRICE INDEX (GWPI)
(1998=100)

Year-on-Year Growth Rates, All Items
November 2016 - November 2017

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
  November 3.9p 3.6p 5.3 5.2
  October 3.3p 3.2p 3.9 4.1
  September 3.9r 3.9r 4.1 3.1
  August 3.8r 4.1r 3.3 1.9
  July 2.7 2.9 2.3 1.5
  June 1.6 1.5 3.7 0.8
  May 3.4 3.6 4.7 0.1
 April 5.1 5.6 5.0 1.3
 March 6.0 6.5 4.6 2.9
 February 7.5 8.1 5.8 3.4
 January 7.4 8.2 5.3 3.1
 2016 1.1 1.1 1.6 1.2
  December 5.5 6.1 3.6 2.5
  November 3.1 3.3 2.6 1.7

                                                   r - revised
                                                   p - preliminary

 

 

 

 

 

• Year-on-Year
    

     The year-on-year growth of General Wholesale Price Index (GWPI) at the national level picked up by 3.9 percent in November 2017. In the previous month, its annual rate was registered at 3.3 percent and in November 2016, 3.1 percent. Higher annual increments were noticed in the indices of crude materials, inedible except fuels at 7.1 percent; mineral fuels, lubricants and related materials, 17.3 percent; and machinery and transport equipment, 1.3 percent. On the other hand, the index of chemicals including animal and vegetable oils and fats still recorded a negative rate at -2.8 percent. Other commodity groups moved at their previous month’s rates (see Table 1.1).    

     > The annual growth of the GWPI in Luzon accelerated by 3.6 percent in November 2017. Its annual rate was 3.2 percent in October 2017 and 3.1 percent in November 2016. Annual add-ons were higher in the indices of the following commodity groups:

  • Beverages and Tobacco (8.3%);
  • Crude Materials, Inedible Except Fuels (8.0%);
  • Mineral Fuels, Lubricants and Related Materials (17.9%); and
  • Manufactured Goods Classified Chiefly by Materials and Machinery and Transport Equipment (0.9%).

The miscellaneous manufactured articles index rose by 0.1 percent from zero growth in the previous month. Meanwhile, negative annual rates were observed in the indices of food at -0.6 percent and chemicals including animal and vegetable oils and fats, -4.1 percent (see Table 2.1).

     > The annual adjustment of GWPI in Visayas increased by 5.3 percent in November 2017. In the previous month, its annual change was recorded at 3.9 percent and in November 2016, 2.6 percent. Higher annual upticks were posted in the indices of the following commodity groups:

  • Food (4.5%);
  • Beverages and Tobacco (13.4%);
  • Mineral Fuels, Lubricants and Related Materials (15.9%); and
  • Chemicals Including Animal and Vegetable Oils and Fats (4.6%).

A slower annual rate was, however, seen in the index of crude materials, inedible except fuels index at 0.5 percent. The rest of the commodity groups moved at their previous month’s rates (see Table 3.1).

     > The annual hike of GWPI in Mindanao was higher at 5.2 percent in November 2017. In the previous month, its annual growth was pegged at 4.1 percent and in November 2016, 1.7 percent. Faster annual increments were registered in the indices of the following commodity groups:

  • Food (7.8%);
  • Chemicals Including Animal and Vegetable Oils and Fats (1.7%);
  • Manufactured Goods Classified Chiefly by Materials (1.0%); and
  • Machinery and Transport Equipment (1.9%).

However, the index of mineral fuels, lubricants and related materials exhibited a lower annual growth of 8.2 percent. Movements in the rest of the commodity groups remained at their previous month’s rates (see Table 4.1).
 

• By Commodity Group, Month-on-Month
  
     On a monthly basis, the growth of GWPI at the national level decelerated to 0.8 percent in November 2017. In October 2017, the rate was registered at 0.9 percent. Upticks in the indices of food eased to 0.3 percent and beverages and tobacco, 0.1 percent. On the other hand, a higher growth of 2.7 percent was recorded in mineral fuels, lubricants and related materials index. From zero growth in the previous month, the index of machinery and transport equipment inched up by 0.6 percent. Similarly, the crude materials, inedible except fuels index accelerated by 2.5 percent from -1.3 percent and chemicals including animal and vegetable oils and fats index, 0.3 percent from -0.1 percent. The month-on-month growth of manufactured goods classified chiefly by materials index remained at 0.1 percent while that of miscellaneous manufactured articles index continued to register zero growth (see Table 1.2).

  • Price hikes in petroleum products such as gasoline, kerosene, diesel oil, bunker fuel and crude petroleum oil pushed up the index of mineral fuels, lubricants and related materials in Luzon by 2.7 percent. The group’s index in Visayas likewise, rose by 3.2 percent due to upward adjustments in the prices of gasoline, kerosene and diesel oil. In Mindanao, the group’s index moved up by 1.1 percent as gasoline, diesel oil and LPG were priced higher in the area. For the Philippines, the group’s index picked up by 2.7 percent.
     
  • The food index in Visayas advanced by 1.5 percent in November 2017. Increases in food items in the area were noticed in eggs, beef, selected meat products, milk, butter, fresh and frozen fish, selected canned fish and other processed fish, bakery products, fruits and vegetables, and desiccated coconut. In Mindanao, prices of hogs, eggs, beef, pork, canned meat products, fresh and frozen fish, canned fish, corn grain, rice, bakery products, unprocessed animal feeds, cube ice and salt went up during the month. Thus, the food index in the area accelerated by 2.4 percent. On the other hand, lower prices of liveweight chicken, selected canned fish, sotanghon, instant noodles, fresh vegetables, sugar and desiccated coconut in Luzon resulted to a 0.1 percent decrease in its food index. For the Philippines, the group’s index moved up by 0.3 percent.
     
  • The machinery and transport equipment index in Luzon climbed by 0.6 percent as prices of battery, electrical wire, electric fan and car were higher during the period. The group’s index in Mindanao likewise, went up by 0.5 percent as television set and electrical wire were priced higher in the area. The group’s index in Visayas, however, had zero growth during the month.  At the national level, the group’s index moved upward by 0.6 percent.
     
  • Higher prices of copra and pebbles raised the index of crude materials, inedible except fuels in Luzon by 2.9 percent. Meanwhile, the group’s index in Visayas and Mindanao had zero growth. At the country level, the group’s index exhibited a growth of 2.5 percent during the month.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon increased by 0.2 percent as selected paint products, medical and pharmaceutical preparations were priced higher in the area. Similarly, fertilizers, some medical and pharmaceutical preparations, laundry soap, cosmetics and toilet preparations and insecticides went up in Visayas. Thus, the group’s index in the area advanced by 0.7 percent. In Mindanao, the group’s index in the area rose by 0.1 percent due to upward price adjustments noted in selected medical and pharmaceutical preparations and toilet soap. For the Philippines, the group’s index inched up by 0.3 percent.
     
  • The index of manufactured goods classified chiefly by materials in Luzon rose by 0.1 percent. This can be attributed to the increments in the prices of tires and inner tubes, selected paper products, cement, hollow blocks, G.I. sheets and fabricated wire products were higher during the month. Meanwhile, higher prices of tires and inner tubes, selected paper products, yarn, G.I. sheets, G.I. pipe and fabricated wire products in Mindanao resulted to a 0.3 percent increase in its group’s index. The group’s index in Visayas, however, had zero growth during the month. The group’s index at the country level rose by 0.1 percent.
     
  • Upward price adjustments in selected liquors during the month effected the 0.2 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of liquors were also higher this month. Hence, the group’s index in the area inched up by 0.1 percent. The group’s index in Mindanao, however, had zero growth during the period. The national index exhibited a 0.1 percent growth during the month.
     
  • A 0.1 percent growth recorded in miscellaneous manufactured articles index in Luzon was due to higher prices of sink and selected undergarments. Similarly, the group’s index in Mindanao inched up by 0.1 percent. This was brought about by the upward adjustment in the price of columnar pad.  The group’s index in Visayas, however, had zero growth. At the national level, it exhibited zero growth during the month.

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