General Wholesale Price Index (1998=100) : April 2019

Reference Number: 

2019-167

Release Date: 

Monday, June 10, 2019

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

Year-on-Year Changes, in Percent, of General Wholesale Price Index (GWPI)
for All Items by Area : April 2018 - April 2019

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2019        
 April 4.7p 5.4p 1.5p 1.3p
 March 5.5 6.3 2.6 1.9
 February 3.2 3.6 1.1 1.1
 January 3.5 3.9 1.6 2.0
 2018 7.0 7.2 6.5 6.5
 December 4.0 4.1 5.1 1.9
 November 5.0 5.3 4.2 3.2
 October 8.5 9.0 6.8 6.2
 September 9.6 10.0 7.6 8.2
 August 8.9 9.2 8.3 7.5
 July 9.0 9.3 6.8 7.8
 June 9.8 10.1 7.7 8.7
 May 8.4 8.4 7.4 8.9
 April 6.3 6.1 7.1 8.0

                                              
                                                p - preliminary

 

 

 

 

• YEAR-ON-YEAR
    

1. Annual increment of the GWPI at the national level decelerates

     The annual increase of GWPI at the national level slowed down to 4.7 percent in April 2019. In the previous month, the annual rate was pegged at 5.5 percent and in April 2018, 6.3 percent. The indices of crude materials inedible except fuels, and chemicals including animal and vegetable oils and fats continued to register annual decreases of 13.3 percent and 3.6 percent, respectively. Moreover, slower annual gains were noted in the indices of food at 8.3 percent; mineral fuels, lubricants and related materials, 6.2 percent; and manufactured goods classified chiefly by materials, 1.2 percent. Meanwhile, annual add-ons were higher in the indices of beverages and tobacco at 11.3 percent; machinery and transport equipment, 2.3 percent; and miscellaneous manufactured articles, 2.2 percent (see Table 1.1).

2. Annual rate of GWPI in Luzon slowly picks up

     The annual growth of GWPI in Luzon, likewise, eased to 5.4 percent in April 2019. Its annual change in March 2019 was posted at 6.3 percent and in April 2018, 6.1 percent. Annual declines were registered in the indices of crude materials, inedible except fuels at 14.5 percent, and chemicals including animal and vegetable oils and fats at 5.1 percent. Moreover, annual hikes recorded in the indices of food slowed to 10.8 percent, and mineral fuels, lubricants and related materials, 6.2 percent. Meanwhile, higher annual rates were seen in the indices of beverages and tobacco at 13.9 percent; machinery and transport equipment, 3.0 percent; and miscellaneous manufactured articles, 2.3 percent. Annual movement in the index of manufactured goods classified chiefly by materials remained at 1.0 percent (see Table 2.1).

3. GWPI in Visayas, likewise, moves up at a slower pace

     The annual hike of GWPI in Visayas decelerated to 1.5 percent in April 2019. In the previous month, its annual rate was noted at 2.6 percent and in April 2018, 7.1 percent. The slowdown was primarily due to the 9.1 percent annual decline in crude materials, inedible except fuels index. Moreover, annual increases were slower in the indices of the following commodity groups:

  • Food, 1.3 percent;
  • Beverages and tobacco, 5.7 percent;
  • Mineral fuels, lubricants and related materials, 3.9 percent;
  • Chemicals including animal and vegetable oils and fats, 2.8 percent; and
  • Manufactured goods classified chiefly by materials, 0.1 percent.

     The indices of miscellaneous manufactured articles, and machinery and transport equipment retained their previous month’s annual rate of 0.1 percent and zero growth, respectively (see Table 3.1).

4. Annual increment of GWPI in Mindanao is slower during the month

     The annual rate of GWPI in Mindanao slid to 1.3 percent in April 2019. Its annual growth in March 2019 was recorded at 1.9 percent and in April 2018, 8.0 percent. An annual drop of 0.7 percent was registered in the index of food. Compared with their annual rates in the previous month, annual increases were slower in the indices of manufactured goods classified chiefly by materials at 2.7 percent; machinery and transport equipment, 0.1 percent; and miscellaneous manufactured articles, 2.4 percent. The indices of other commodity groups retained their previous month’s annual rates (see Table 4.1).

 

• MONTH-ON-MONTH

1. Month-on-month increase of GWPI at the country level decelerates during the period

     On a monthly basis, the rate of increase of GWPI at the national level eased to 0.1 percent in April 2019. Its monthly change in March 2019 was posted at 2.0 percent. Declines were observed in the indices of food at 0.4 percent, and chemicals including animal and vegetable oils and fats at 1.2 percent. Moreover, upticks in the indices of mineral fuels, lubricants and related materials slowed down to 1.2 percent; manufactured goods classified chiefly by materials, 0.1 percent; and miscellaneous manufactured articles, 0.2 percent. On the other hand, the index of beverages and tobacco moved up at a faster pace of 0.6 percent. In addition, the index of crude materials, inedible except fuels rose by 0.7 percent from a decline of 0.4 percent in the previous month. The index of machinery and transport equipment retained its previous month’s rate of 0.1 percent (see Table 1.2).

2. Wholesale prices of petroleum products increase at slower rates during the period

     Increments in the indices of mineral fuels, lubricants and related materials eased to 1.2 percent in Luzon; by 1.0 percent in Visayas; and by 1.7 percent in Mindanao. Compared with previous month, price hikes recorded in crude petroleum oil, gasoline, diesel oil, bunker fuel oil, and LPG were lower during the month. At the national level, the group’s index went up at a slower rate of 1.2 percent.

3. Beverages and tobacco index climbs during the period

     Higher prices in beer, liquors, and softdrinks effected the 0.5 percent increase in beverages and tobacco index in Luzon. In Mindanao, prices of liquors, beer, and softdrinks were also higher this month. Hence, the group’s index in the area picked up by 1.1 percent. Meanwhile, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index advanced to 0.6 percent.

4. Miscellaneous manufactured articles index moves up this month

     The index of miscellaneous manufactured articles in Luzon gained by 0.3 percent. This was due to higher prices of selected printed matters and candles during the period. For Mindanao, price upticks in selected ready-made clothing and guitar raised its group’s index by 0.1 percent. On the contrary, prices of water closet and mattress went down in Visayas. Thus, the group’s index in the area fell by 0.1 percent. At the country level, the group’s index exhibited a 0.2 percent gain this month.

5. Crude materials, inedible except fuels index picks up during the month

     Higher prices of copra, abaca, and pebbles resulted to a 0.9 percent increment in the index of crude materials, inedible except fuels in Luzon. On the other hand, the price of copra went down in Visayas. Thus, the group’s index in the area dropped by 0.1 percent. Meanwhile, the group’s index in Mindanao had a zero growth. At the country level, the group’s index moved upward by 0.7 percent.

6. Manufactured goods classified chiefly by materials index generally moves upward

     The 0.1 percent increase in the index of manufactured goods classified chiefly by materials in Luzon was due to higher prices in silicon nipples and paper products. In Mindanao, the group’s index, likewise, went up by 0.2 percent. This was effected by the increments in the prices of rope, fish net, glass and glass products, and machine bolts. Meanwhile, lower prices of G.I. sheets pushed down the group’s index in Visayas by 0.2 percent. The group’s index at the country level inched up by 0.1 percent.

7. Machinery and transport equipment index slightly moves up during the month

    The machinery and transport equipment index in Luzon exhibited a 0.1 percent gain brought about by higher price in electrical outlet. Similarly, the group’s index in Mindanao moved up by 0.02 percent as prices of electrical appliances were higher during the period. Meanwhile, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index rose by 0.1 percent.

8. Chemicals including animal and vegetable oils and fats index drops in Luzon while it is higher in Visayas and Mindanao during the period

     The index of chemicals including animal and vegetable oils and fats in Luzon fell by 1.6 percent as prices of caustic soda flakes and coconut oil were lower during the month. On the contrary, prices of coconut oil and varnish went up in Visayas. Thus, the group’s index in the area moved up by 0.5 percent. In Mindanao, the group’s index in the area rose by 0.1 percent due to increments in the prices of fertilizers and insecticides. At the national level, the group’s index dropped by 1.2 percent.

9. Food index declines in Luzon during the month

     The food index in Luzon went down by 0.9 percent as liveweight chicken, eggs, fish, sugar, unprocessed animal feeds, and cooking oil were priced lower during the month. In Visayas, prices of fish, bakery products, and vegetables went up during month. Thus, the food index in the area advanced to 1.3 percent. Similarly, the group’s index in Mindanao picked up by 1.1 percent brought about by higher prices of unmilled corn, rice, fruits, vegetables, tonic food drink, and desiccated coconut. The group’s index at the country level declined by 0.4 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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