Year-on-Year Growth Rates, All Items
April 2015 - April 2016
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2016 | ||||
| April | -0.3p | -0.6p | -0.5 | 1.4 |
| March | -0.5 | -0.8 | 1.0 | 0.6 |
| February | -1.1 | -1.6 | 1.0 | 0.4 |
| January | 0.4 | 0.1 | 1.4 | 1.6 |
| 2015 | ||||
| December | -0.7 | -1.0 | 1.0 | -0.6 |
| November | -2.1 | -2.4 | -0.7 | -1.4 |
| October | -3.1 | -3.5 | -1.4 | -1.0 |
| September | -4.3 | -4.9 | -2.2 | -1.6 |
| August | -4.1 | -4.4 | -2.7r | -2.5 |
| July | -3.7 | -4.1 | -1.9 | -2.2 |
| June | -3.7 | -4.2 | -1.0 | -2.1 |
| May | -4.1 | -4.8 | -0.3 | -1.8 |
| April | -4.4 | -4.9 | -0.5 | -3.0r |
p - preliminary
r - revised
Year-on-Year
The annual movement of the country’s General Wholesale Price Index (GWPI) continued its downtrend as it posted -0.3 percent in April 2016. Last month, it recorded an annual decline of 0.5 percent and in April 2015, -4.4 percent. Annual decreases of 13.3 percent and 0.2 percent were noted in the indices of mineral fuels, lubricants and related materials and machinery and transport equipment, respectively. Moreover, slower annual uptick was seen in food index at 2.0 percent and beverages and tobacco index, 2.2 percent. On the other hand, higher annual rates were observed in the corresponding indices of crude materials, inedible except fuels and chemicals including animal and vegetable oils and fats at 25.1 percent and 5.0 percent. Annual changes in the indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles remained at 0.7 percent and 2.1 percent, respectively (Table 1.2).
Measured from a year ago level, the GWPI in Luzon dropped by 0.6 percent in April 2016. It was pegged at -0.8 percent last month. Negative annual rates were recorded in the indices of mineral fuels, lubricants and related materials at -13.6 percent and machinery and transport equipment, -0.3 percent. In addition, annual increment of the food index decelerated to 1.8 percent. Meanwhile, higher annual growths were noticed in the indices of beverages and tobacco at 2.1 percent; crude materials, inedible except fuels, 26.4 percent; and chemicals including animal and vegetable oils and fats, 6.3 percent. Annual movements in the indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles correspondingly remained at 0.7 percent and 2.2 percent (Table 2.2).
The double-digit annual drop of 11.5 percent in mineral fuels, lubricants and related materials index primarily pushed down the GWPI in Visayas by 0.5 percent during the month. Moreover, lower annual growths were observed in the indices of food at 0.7 percent; beverages and tobacco, 4.3 percent; machinery and transport equipment, 0.2 percent; and miscellaneous manufactured articles, 1.0 percent. On the contrary, the annual gain in crude materials, inedible except fuels index was higher at 15.6 percent. That for chemicals including animal and vegetable oils and fats index moved at its last month’s rate of 0.5 percent. For four consecutive months now, the index for manufactured goods classified chiefly by materials registered flat growth (Table 3.2).
Following the same trend in Visayas, the annual rate of the GWPI in Mindanao moved faster at 1.4 percent in April. Higher annual upticks were noticed in the indices of food at 4.4 percent and miscellaneous manufactured articles, 1.1 percent. Meanwhile, the annual increase in beverages and tobacco index slowed down to 1.5 percent and crude materials, inedible except fuels index, 19.2 percent. On the other hand, the indices of mineral fuels, lubricants and related materials and chemicals including animal and vegetable oils and fats continued their downward movements as they posted annual declines of 8.9 percent and 0.3 percent, respectively. Annual change in manufactured goods classified chiefly by materials index remained at 0.8 percent while that for machinery and transport equipment index had a flat growth (Table 4.2).
By Commodity Group, Month-on-Month
On a monthly basis, the GWPI at the national level moved up at a slower pace of 0.8 percent in April 2016. Last month, the rate was pegged at 0.9 percent. The heavily-weighted food index contracted by 0.7 percent. In addition, increases in the indices of crude materials inedible except fuels eased to 3.5 percent and mineral fuels, lubricants and related materials, 4.4 percent. However, higher add-ons was noticed in beverages and tobacco index at 0.3 percent and chemicals including animal and vegetables oils and fats index, 3.6 percent. The index for manufactured goods classified chiefly materials retained its previous month’s rate of 0.1 percent. The rest of the commodity groups recorded a flat growth (Table 1.1).
Price mark-ups in gasoline, diesel, kerosene, bunker and crude oil and LPG pushed up the index of mineral fuels, lubricants and related materials in the three areas: Luzon, 4.7 percent; Visayas, 0.8 percent; and Mindanao, 3.6 percent. For the Philippines, the group’s index advanced by 4.4 percent.
The index for chemicals including animal and vegetable oils and fats rose by 4.4 percent in Luzon due to increments in the prices of coconut oil and selected vitamins. The group’s index in Visayas likewise inched up 0.1 percent brought about by higher prices of coconut oil. In Mindanao, price increments in selected medical and pharmaceutical preparations, laundry soap, wax and insecticides caused a 0.3 percent growth in its group’s index in the area. For the Philippines, the index rose 3.6 percent.
The index for crude materials, inedible except fuels in Luzon accelerated 4.1 percent due to upward adjustments in the prices of copra during the month. Similarly, the group’s index in Mindanao picked up by 1.5 percent brought about by add-ons in the prices of firewood. Lower prices of copra in Visayas, however, pushed down its group’s index by 1.2 percent. The national index advanced by 3.5 percent.
The index for manufactured goods classified chiefly by materials in Luzon inched up 0.1 percent. This can be attributed to higher prices of cement and selected structural metal products in the area during the month. Moreover, price gain in cement resulted to a 0.2 percent growth in its group’s index in Visayas. Selected paper and concrete products were priced higher in Mindanao. Hence, the group’s index in the area moved up by 0.1 percent. At the country level, the index registered a growth of 0.1 percent.
In Luzon, beverages and tobacco index rose 0.3 percent as prices of selected liquors and cigarettes went up during the month. A flat growth was, however, noticed in the group’s index in Visayas and Mindanao. The national index increased by 0.3 percent.
The food index in Luzon went down by 1.4 percent as prices of live weight chicken, eggs, corn, fruits, vegetables, sugar, and desiccated coconut were lower during the month. Meanwhile, upticks in the prices of rice, vegetables and coffee beans in Visayas resulted to a 0.1 percent growth in its group’s index in the area. Likewise, higher prices of meat products, milk, fruits, vegetables, sugar and starch raised the group’s index in Mindanao by 2.5 percent. For the Philippines, the index shrank by 0.7 percent.
Note:
1. Price data collected from other agency was not yet received as of June 15, 2016.
2. GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).
