Year-on-Year Growth Rates, All Items
December 2012 - December 2013

p - preliminary

Year-on-Year

On an annual basis, the General Wholesale Price Index (GWPI) in the country went up 5.3 percent in December from 4.1 percent in November as the indices of all the commodity groups posted higher annual gains except miscellaneous manufactured goods articles index which retained its December growth of 1.4 percent. The food index grew by 4.0 percent in December from 3.7 percent in November; beverages and tobacco index, 25.7 percent from 25.6 percent; crude materials, inedible except fuels index, 32.5 percent from 24.4 percent; mineral fuels, lubricants and related materials index, 6.4 percent from 2.9 percent; chemicals including animal and vegetable oils and fats index, 6.4 percent from 5.3 percent; manufactured goods classified chiefly by materials index, 1.5 percent from 1.4 percent; and machinery and transport equipment index, 1.7 percent from 1.1 percent.

The annual average growth of the GWPI at the national level was at 1.6 percent in 2013 from 1.1 percent in 2012. Higher annual average growth rates were noted in the heavily-weighted food index at 2.9 percent from 2.4 percent; beverages and tobacco index, 22.5 percent from 2.5 percent; and chemicals including animal and vegetable oils and fats index, 0.3 percent from -2.7 percent. However, declines were noted in the annual average rates of crude materials, inedible except fuels index at -6.4 percent from -21.8 percent and mineral fuels, lubricants and related materials index, -1.4 percent from 1.9 percent. In addition, slower annual average rates were observed in the following: manufactured goods classified chiefly by materials index, 1.2 percent from 2.5 percent; machinery and transport equipment index, 1.4 percent from 1.9 percent; and miscellaneous manufactured articles index, 1.1 percent from 1.8 percent.

• The annual change in the GWPI in Luzon advanced to 4.9 percent in December from 3.5 percent in November. It resulted from an annual hike in the food index at 2.2 percent in December from 2.0 percent in November; beverages and tobacco index, 24.8 percent from 24.6 percent; crude materials, inedible except fuels index, 37.1 percent from 28.5 percent; mineral fuels, lubricants and related materials index, 6.7 percent from 2.9 percent; chemicals including animal and vegetable oils and fats index, 7.5 percent from 6.3 percent; and machinery and transport equipment index, 1.5 percent from 0.8 percent. The annual additions in the indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles remained at 1.1 percent and 1.0 percent, respectively.

  

  The annual average growth of wholesale prices in Luzon climbed to 2.2 percent in 2013 from 1.2 percent in 2012. Increases were observed in the annual average rates of the following indices: food, 4.9 percent from 3.0 percent; beverages and tobacco, 23.7 percent from 2.3 percent; manufactured goods classified chiefly by materials, 3.3 percent from 2.4 percent; machinery and transport equipment, 3.8 percent from 2.4 percent; and miscellaneous manufactured articles, 2.7 percent from 1.9 percent. On the other hand, reductions were still recorded in the annual average rates of crude materials, inedible except fuels index at 28.6 percent and chemicals including animal and vegetable oils and fats index, -4.0 percent. A slower annual average increase was noted in mineral fuels, lubricants and related materials index at 0.4 percent from 2.0 percent last year.

• A similar trend was seen in the GWPI in Visayas as its annual mark-up was pegged at 4.7 percent in December from 3.8 percent in November. The uptrend was effected by faster annual rates in the food index at 5.4 percent from 5.0 percent; crude materials, inedible except fuels index at 3.8 percent from -0.2 percent; mineral fuels, lubricants and related materials index, 3.2 percent from 2.3 percent; manufactured goods classified chiefly by materials index, 3.7 percent from 1.1 percent; machinery and transport equipment index, 1.9 percent from 0.7 percent; and miscellaneous manufactured articles index, 1.8 percent from 1.3 percent. Movements in the indices of beverages and tobacco and chemicals including animal and vegetable oils and fats remained at their respective previous month’s rates of 25.7 percent and 2.5 percent.

  

  The annual average growth of the GWPI in Visayas jumped to 1.9 percent in 2013 from previous year’s 0.1 percent. This was brought about by upward adjustments in the annual average rates of the food index at 2.0 percent in 2013 from 0.3 percent in 2012; beverages and tobacco index, 26.5 percent from 2.0 percent; mineral fuels, lubricants and related materials index, 0.1 percent from -0.6 percent; manufactured goods classified chiefly by materials index, 1.1 percent from 0.8 percent; machinery and transport equipment index, 0.5 percent from 0.2 percent; and miscellaneous manufactured articles index, 1.1 percent from 0.1 percent. However, the annual average rate in crude materials, inedible except fuels index further declined by 12.8 percent from -8.9 percent. Moreover, the annual average growth of chemicals including animal and vegetable oils and fats index slowed to 1.3 percent from 1.6 percent last year.

• In Mindanao, the annual movement of the GWPI was recorded at 9.2 percent in December from 8.9 percent in November. This was due to higher annual growths in the food index at 15.9 percent from 15.4 percent; crude materials, inedible except fuels index, 10.3 percent from 9.7 percent; mineral fuels, lubricants and related materials index, 3.9 percent from 2.6 percent; chemicals, including animal and vegetable oils and fats index, 1.2 percent from 1.0 percent; and miscellaneous manufactured articles index, 5.2 percent from 5.1 percent. A slowdown was, however, noted in the manufactured goods classified chiefly by materials index at 2.7 percent from 3.2 percent while annual changes in the indices of beverages and tobacco and machinery and transport equipment remained at 32.6 percent and 3.5 percent, respectively.
  

  

  Compared to last year’s annual average growth of 1.7 percent, the GWPI in Mindanao accelerated to 7.0 percent in 2013. This was mainly due to the double-digit increments in the annual average growths of the food index at 11.3 percent in 2013 from 0.1 percent in 2012 and beverages and tobacco index, 30.7 percent from 3.5 percent. In addition, the annual average increase of the crude materials, inedible except fuels index went up to 8.8 percent from -1.6 percent; machinery and transport equipment index, 2.6 percent from 0.7 percent; and miscellaneous manufactured articles index, 3.6 percent from 2.3 percent. Meanwhile, slower annual average growth rates were recorded in the indices of mineral fuels, lubricants and related materials at 1.1 percent from 2.1 percent; chemicals including animal and vegetable oils and fats, 1.4 percent from 3.5 percent; and manufactured goods classified chiefly by materials, 3.6 percent from 4.3 percent.

• By Commodity Group, Month-on-Month

  Measured from last month’s level, the GWPI at the national level further picked up 1.0 percent in December from 0.7 percent in November as higher monthly increases were posted in the indices of mineral fuels, lubricants and related materials at 2.5 percent from 0.3 percent; machinery and transport equipment, 0.7 percent from 0.1 percent; and beverages and tobacco, 0.1 percent from zero growth. Slow-paced monthly growths were however noted in the food index at 0.4 percent from 0.7 percent; crude materials, inedible except fuels index, 5.9 percent from 9.1 percent; and chemicals including animal and vegetable oils and fats index, 0.9 percent from 2.1 percent. The rest of the commodity groups retained their previous month’s rate.

  The soaring prices of LPG pushed up the mineral fuels, lubricants and related materials index in Luzon by 2.6 percent; Visayas, 1.9 percent and Mindanao, 1.1 percent. Price hikes in gasoline, kerosene and diesel oil were also observed in Luzon and in Visayas. In Mindanao, prices of diesel oil also went up during the month. At the national level, the group’s index accelerated to 2.5 percent.

  Faster growths were noted in the machinery and transport equipment index in Visayas at 1.3 percent and in Luzon, 0.7 percent. These can be attributed to the upward adjustments in the prices of some electrical apparatus, electrical lamps and fixtures, and some insulated wires in the two areas. In Mindanao, prices of machinery and transport equipment generally remained stable as its index had a zero growth. In the Philippines, the group’s index advanced to 0.7 percent from 0.1 percent last month.

  A 0.2 percent increment in the beverages and tobacco index in Luzon was caused by an increase in the prices of selected liquors. A zero growth was however seen in Visayas and in Mindanao. These factors caused the group’s national index to grow by 0.1 percent.

  Higher prices of copra raised the crude materials, inedible except fuels index in Luzon by 6.9 percent. Uptick in the prices of gravel was also seen in Mindanao. Thus, its group’s index gained 0.1 percent. In Visayas, no price movement was observed in the group’s index while at the national level, the group’s index moved up by 5.9 percent.

  The 1.1 percent growth in the chemicals including animal and vegetable oils and fats index in Luzon was brought about by price add-ons in coconut oil, paints and some pharmaceutical products during the period. Similarly, price additions in fertilizers and pesticides pushed up its group’s index in Mindanao by 0.3 percent and in Visayas, 0.2 percent. Price mark-ups in paints and selected medical and pharmaceutical preparations in Visayas also contributed to the uptrend. In the Philippines, the group’s index grew by 0.9 percent.

  Upward price adjustments were noticed in some food items such as rice, selected fish species, calamansi and some fruits and vegetables in Mindanao. Hence, the food index in the area jumped by 2.2 percent from 0.2 percent. Price gains in fresh meat, calamansi, eggs, some fish species, milk and milk products, some fruits and vegetables, some condiments and spices and sugar resulted to a 0.1 percent increment in its group’s index in Luzon and in Visayas. At the national level, the group’s index picked up 0.4 percent.

  The 2.6 percent growth in the manufactured goods classified chiefly by materials index in Visayas was effected by higher prices of cement, hollow blocks, doors, windows and other millworks and some leather products during the month. In Mindanao, uptick in the prices of plywood, abaca rope and some paper products pushed up its group’s index by 0.2 percent. Add-ons in the prices of cement were also noticed in Luzon, thereby raising its group’s index by 0.1 percent. In the Philippines, the group’s index rose 0.2 percent.

  The miscellaneous manufactured articles index in Visayas recorded a 0.6 percent increase as prices of selected sanitary and plumbing fixtures, some undergarment, footwear, printed matters and miscellaneous manufactures were on the uptrend. The group’s index in Mindanao moved up 0.2 percent. This was brought about by price mark-ups in footwear, selected watches and some sanitary fixtures in the area. In Luzon, there were no price movements seen in the miscellaneous manufactured articles during the month as its group’s index had a zero growth. At the national level, the group’s index inched up 0.1 percent.
  

  Notes:

GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).