Year-on-Year Growth Rates, All Items
August 2015 - August 2016

Year-on-Year

The year-on-year growth of General Wholesale Price Index (GWPI) at the national level further moved upward to 0.8 percent in August 2016. Last month, it was recorded at 0.2 percent, while in August 2015, it dropped by 4.1 percent. The uptrend was primarily due to higher annual increment in the heavily-weighted food index at 2.9 percent. Moreover, faster annual rates were also seen in the indices of beverages and tobacco at 2.2 percent and crude materials, inedible except fuels, 18.2 percent. Slower annual gains were, however, noticed in the indices of the following commodity groups: chemicals including animal and vegetable oils and fats, 3.1 percent; machinery and transport equipment, 0.2 percent; and miscellaneous manufactured articles, 1.3 percent. On the other hand, the annual change in mineral fuels, lubricants and related materials index decreased by 7.1 percent while manufactured goods classified chiefly by materials index moved at its previous month’s rate of 0.2 percent (Table 1.2).

• On an annual basis, the GWPI in Luzon inched up 0.4 percent in August 2016. It was pegged at -0.1 percent last month and -4.4 percent in August 2015. Annual add-on was higher in beverages and tobacco index at 2.5 percent. However, slowdowns in the annual increases were observed in the indices of food at 2.1 percent; chemicals including animal and vegetable oils and fats, 3.6 percent; manufactured goods classified chiefly by materials, 0.3 percent; and miscellaneous manufactured articles, 1.6 percent. In addition, annual adjustment of mineral fuels, lubricants and related materials index fell by 7.4 percent. Annual movements in the indices of crude materials, inedible except fuels and machinery and transport equipment remained at 19.1 percent and 0.3 percent, respectively (Table 2.2).
  
• In Visayas, the GWPI rose 2.9 percent in August 2016. Higher annual increments were posted in the indices of food at 6.8 percent and crude materials, inedible except fuels, 9.9 percent. Meanwhile, annual increase in chemicals including animals and vegetable oils and fats index slowed down to 1.3 percent and machinery and transport equipment index, 0.1 percent. Negative annual rates were noted in the indices of mineral fuels, lubricants and related materials at -0.4 percent; manufactured goods classified chiefly by materials, -2.2 percent; and miscellaneous manufactured articles, -0.2 percent. Index for beverages and tobacco remained at 1.3 percent (Table 3.2).

• Following the same trend in Visayas, the annual rate of the GWPI in Mindanao moved faster at 1.8 percent in August 2016. Higher annual upticks were noticed in the indices of food at 5.5 percent; chemicals including animal and vegetable oils and fats, 0.7 percent; and manufactured goods classified chiefly by materials, 0.4 percent. On the contrary, annual add-on in crude materials, inedible except fuels index eased to 18.9 percent. The indices for mineral fuels, lubricants and related materials and machinery and transport equipment continued their downward movements as they posted annual declines of 9.2 percent and 0.1 percent, respectively. The indices for beverages and tobacco and miscellaneous manufactured articles moved at their corresponding previous month’s rates of 0.5 percent and 1.0 percent (Table 4.2).
  

• By Commodity Group, Month-on-Month

  On a monthly basis, the GWPI in the Philippines continued to post negative rate at -0.3 percent in August 2016. This was brought about by the downward adjustments observed in the following commodity groups: crude materials, inedible except fuels index, -1.9 percent; mineral fuels, lubricants and related materials index, -1.6 percent; chemicals including animal and vegetable oils and fats index, -1.0 percent; and machinery and transport equipment index, -0.1 percent. On the other hand, from zero growth, the indices for food and beverages and tobacco inched up 0.2 percent and 0.3 percent, respectively. The index for manufactured goods classified chiefly by material maintained its previous month’s rate of 0.1 percent while miscellaneous manufactured articles index registered a zero growth during the month (Table 1.1).

  Lower prices of gasoline, kerosene, diesel oil, bunker fuel oil, crude petroleum oil and LPG pushed down the index for mineral fuels, lubricants and related materials by 1.9 percent in Luzon. Similarly, the group’s index in Mindanao fell by 0.3 percent due to downward adjustments in the prices of gasoline. However, gasoline, kerosene and diesel oil in Visayas were priced higher during the month. Hence, the group’s index in the area rose 0.4 percent. For the Philippines, the group’s index dropped by 1.6 percent.

  Downward adjustment in the price of coconut oil effected the 0.8 percent drop in its index for chemicals including animal and vegetable oils and fats in Luzon and -3.0 percent in Visayas. In Mindanao, the group’s index had a flat growth. At the national level, the index moved down by 1.0 percent.

  The crude materials, inedible except fuels index in Luzon went down by 2.0 percent as prices of copra decreased during the month. Likewise, lower prices of pebbles resulted to a 0.8 percent decline in its group’s index in Visayas. Similarly, a 0.4 percent drop in the group’s index in Mindanao was observed. This was due to reductions in the prices of bamboo pole and adobe blocks. For the Philippines, the group’s index shrank by 1.9 percent.

  The machinery and transport equipment index in Visayas contracted by 0.3 percent. This was attributed to lower prices of selected electrical lamps and fixtures during the month. A flat growth was noticed, however, in the group’s index in Luzon and Mindanao. The national index dropped by 0.1 percent.

  The index for beverages and tobacco in Luzon, gained 0.3 percent. This was effected by higher prices of selected liquors and cigarettes. Meanwhile, the group’s index in Visayas and Mindanao exhibited a flat growth. At the country level, the group’s index advanced 0.3 percent.

  In Luzon, prices of cement, tiles, selected fabricated wire products and inner tubes for tire went up during the month. Thus, the index for manufactured goods classified chiefly by materials in the area inched up 0.1 percent. Higher prices of cement, fish net, stamped, coated and engraved metals, and selected fabricated wire products were noted in Mindanao. Hence, a 0.4 percent growth was observed in its group’s index. On the other hand, price cuts in cement, plywood, selected glass products, G.I. sheets, and selected textile mill products pushed down the group’s index in Visayas by 1.0 percent. At the country level, the group’s index registered a 0.1 percent growth.

  The food index in Luzon went up 0.2 percent during the month. This was due to the increments in the prices of some food items such as powdered milk, canned fish, fish sauces and extracts, fruits and vegetables, sugar and coffee. Higher prices of eggs, pork, beef, selected bakery products, fruits and vegetables in Visayas raised the food index in the area by 0.1 percent. Meanwhile, food index in Mindanao recorded a flat growth. For the Philippines, the group’s index increased 0.2 percent.

  Note:

  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).