LATEST RELEASE

 

General Wholesale Price Index (1998=100) : April 2018

Reference Number: 2018-170
Release Date: June 21, 2018

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

Year-on-Year Changes in Percent, All Items (April 2017 - April 2018)

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 April 6.3p 6.1p 7.1p 8.0
 March 5.4 5.2 5.8r 6.4
 February 4.9 4.7 5.5 6.0
 January 4.8 4.8 5.6 5.2
 2017 4.4 4.6 4.3 2.7
  December 3.4 3.2 4.2 5.2
  November 4.4 4.2 5.3 5.2
  October 3.6 3.6 3.9 4.1
  September 3.9 3.9 4.1 3.1
  August 3.8 4.1 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

                                                r - revised
                                                p - preliminary

 

 

 

 

• Year-on-Year
    

     The year-on-year change of the General Wholesale Price Index (GWPI) at the national level climbed by 6.3 percent in April 2018. It went up by 5.4 percent in the previous month and 5.1 percent in April 2017. Higher annual increments were recorded in the indices of the following commodity groups:

  • Food (1.6%);
  • Mineral Fuels, Lubricants and Related Materials (27.5%);
  • Chemicals Including Animal and Vegetable Oils and Fats (0.6%); and
  • Manufactured Goods Classified Chiefly by Materials (2.8%).

Slower annual gains were, however, noted in the indices of beverages and tobacco at 14.3 percent and machinery and transport equipment, 1.0 percent. The index of crude materials inedible except fuels continued to register a negative annual rate at -15.4 percent while miscellaneous manufactured articles index retained its previous month’s growth of 0.9 percent (see Table 1.1).

     > On an annual basis, the GWPI in Luzon likewise accelerated by 6.1 percent in April 2018. In March 2018, its annual rate was posted at 5.2 percent while in April 2017, 5.6 percent. Annual mark-ups in the indices of mineral fuels, lubricants and related materials were higher at 28.3 percent and manufactured goods classified chiefly by materials, 2.8 percent. Meanwhile, annual increases in the indices of beverages and tobacco slowed down to 11.3 percent and machinery and transport equipment, 0.7 percent. The annual rates in the indices of crude materials, inedible except fuels dropped by 16.5 percent and chemicals including animal and vegetable oils and fats -0.5 percent. Annual adjustment for the rest of the commodity groups either remained at their previous month’s rate or had zero growth (see Table 2.1).

     > The annual change of GWPI in Visayas rose by 7.1 percent in April 2018. Its annual growth in March 2018 was recorded at 5.8 percent and in April 2017, 5.0 percent. Higher annual upticks were posted in the indices of food at 5.5 percent; mineral fuels, lubricants and related materials 23.7 percent; and chemicals including animal and vegetable oils and fats 7.6 percent. Meanwhile, slower annual increases were observed in the indices of beverages and tobacco at 21.7 percent; machinery and transport equipment, 1.8 percent; and miscellaneous manufactured articles, 0.1 percent. The index of crude materials, inedible except fuels was still on the downtrend as its annual rate decreased by 9.9 percent. The manufactured goods classified chiefly by materials index retained its previous month’s rate of 0.5 percent (see Table 3.1).

     > The annual adjustment of GWPI in Mindanao went up at a faster rate of 8.0 percent in April 2018. In the previous month, its annual growth was posted at 6.4 percent and in April 2017, 1.3 percent. All other commodity groups registered higher annual mark-ups except for the index of crude materials, inedible except fuels which dropped by 1.4 percent during the month (see Table 4.1).

• By Commodity Group, Month-on-Month
  
     On a monthly basis, the GWPI at the national level increased by 0.9 percent in April 2018 after it posted a 0.3 percent decline in the previous month. A higher growth of 0.2 percent was observed in the indices of beverages and tobacco and manufactured goods classified chiefly by materials. In addition, crude materials, inedible except fuels index accelerated by 1.7 percent from -5.0 percent. From a zero growth in the previous month, the index of mineral fuels, lubricants and related materials likewise picked up by 4.2 percent. On the other hand, declines were registered in the indices of food at -0.2 percent and chemicals including animal and vegetable oils and fats, -0.1 percent. A zero growth was posted in the indices of machinery and transport equipment and miscellaneous manufactured articles (see Table 1.2).

  • Price hikes in petroleum products such as gasoline, diesel oil, kerosene, bunker fuel, crude petroleum oil and LPG pushed up the index of mineral fuels, lubricants and related materials in Luzon by 4.3 percent. Similarly, the group’s index in Visayas rose by 4.7 percent due to upward adjustments in the prices of gasoline, diesel oil and kerosene. Higher increments in the prices of gasoline, diesel oil and LPG in Mindanao also raised its group’s index by 1.7 percent. For the Philippines, the group’s index advanced by 4.2 percent.
     
  • Higher prices of copra, sand and pebbles pushed up the index of crude materials, inedible except fuels in Luzon by 1.9 percent. In Visayas, prices of pebbles were higher during the period. Thus, its group’s index increased by 0.1 percent. Meanwhile, the group’s index in Mindanao had zero growth. At the country level, the group’s index moved up by 1.7 percent.
     
  • Upward price adjustments in liquors, beer and selected softdrinks during the month effected the 1.1 percent growth in beverages and tobacco index in Mindanao. Generally, the group’s index in Luzon and Visayas, however, had zero growth during the period. The national index exhibited a 0.2 percent increase during the month.
     
  • The index of manufactured goods classified chiefly by materials in Luzon went up by 0.2 percent due to higher prices of inner tubes, wood products, pad paper, cement, machine nuts and fabricated wire products. For Visayas, price upticks in plywood, cement, selected glass products and G.I. sheets raised its group’s index by 0.1 percent. Meanwhile, price hikes in plywood, paper products, textile mill products, steel and angle bars, G.I. sheets, G.I. pipe, machine bolts and fabricated wire products resulted to a 1.0 percent increment in its group’s index in Mindanao. The group’s index at the country level rose by 0.2 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon fell by 0.8 percent as coconut oil was priced lower during the month. On the contrary, higher prices were noted in coconut oil, fertilizers, paints, selected medical and pharmaceutical preparations, insecticides and vulcanizing cement in Visayas. Thus, the group’s index in the area accelerated by 5.2 percent. In Mindanao, the group’s index increased by 0.2 percent due to higher prices in plastic sheets, selected medical and pharmaceutical preparations and vulcanizing cement. At the national level, the group’s index declined by 0.1 percent.
     
  • The food index in Luzon went down by 0.7 percent in April 2018. This was brought about by lower prices of liveweight chicken, eggs, fruits, vegetables, and desiccated coconut during the month. On the other hand, higher prices of selected dairy products, fish, rice, bakery products, vegetables, sugar, unprocessed animal feeds, cocoa products, cooking oil, margarine and desiccated coconut pushed up the food index in Visayas by 1.6 percent. In Mindanao, the group’s index gained by 2.2 percent due to upward price adjustments in beef, pork, canned meat products, fish, corn grain, rice, selected bakery products, vegetables, sugar, unprocessed animal feeds, poultry feeds, cocoa products, margarine, cube ice, starch, vetsin and table salt. The food index for the Philippines dropped by 0.2 percent.
     
  • The index of machinery and transport equipment in Mindanao inched up by 0.5 percent as selected electrical apparatus and appliances were priced higher during the period. Meanwhile, the group’s index in Luzon and Visayas had zero growth.  At the national level, the group’s index recorded zero growth.
     
  • A 0.5 percent uptick in miscellaneous manufactured articles index in Mindanao can be attributed to higher prices in selected sanitary fixtures, mattress, undergarments, columnar pad, ledger books, office and school supplies. In Luzon and Visayas, the index had zero growth. At the national level, the group’s index exhibited zero growth during the month (see Tables 1.2, 2.2, and 3.2).

Contents

GWPI Reports by Year Published