Year-on-Year Growth Rates, All Items
July 2014 - July 2015

p - preliminary
r - revised

Year-on-Year

The year-on-year change of the General Wholesale Price Index (GWPI) at the national level was pegged at -3.7 percent in July. It was the same rate observed last month. In July 2014, it grew by 3.4 percent. The continuous decline was attributed to the double-digit decrease of 27.7 percent recorded in the mineral fuels, lubricants and related materials index. Contributing also to the downward movement was the slower annual growth of 0.8 percent in the machinery and transport equipment index. On the other hand, higher annual increases were noted in the following indices: food, 5.0 percent; beverages and tobacco, 8.9 percent; crude materials, inedible except fuels, 3.3 percent, chemicals including animal and vegetable oils and fats, 3.6 percent; and miscellaneous manufactured articles, 2.4 percent. The index for manufactured goods classified chiefly by materials retained its last month’s rate of 2.5 percent.

• The GWPI in Luzon fell by 4.1 percent in July as the mineral fuels, lubricants and related materials index further went down by 28.0 percent. Moreover, the annual increment in the machinery and transport equipment index eased to 1.0 percent. However, the annual growth in the food index was higher at 5.7 percent; beverages and tobacco index, 10.1 percent; crude materials, inedible except fuels index, 3.9 percent; chemicals including animal and vegetable oils and fats index, 4.5 percent; and miscellaneous manufactured articles index, 2.7 percent. The growth in the manufactured goods classified chiefly by materials index remained at its previous month’s rate of 2.9 percent.

   

• In Visayas, the GWPI continued to post a negative rate of 1.9 percent in July. It resulted from the annual reductions in the crude materials, inedible except fuels index at -3.0 percent and in the mineral fuels, lubricants and related materials index, -26.0 percent. A slow-paced annual increase in the food index at 4.9 percent also contributed to the downtrend. Meanwhile, higher annual upticks in the following indices were noted during the month: beverages and tobacco, 7.4 percent; chemicals including animal and vegetable oils and fats, 0.8 percent; and manufactured goods classified chiefly by materials, 1.1 percent. The indices of machinery and transport equipment and miscellaneous manufactured articles retained their growths of 0.5 percent and 1.1 percent, respectively.

   

• A similar trend was seen in the GWPI in Mindanao as its annual adjustment dropped by 2.2 percent in July. This was effected by the annual decline in mineral fuels, lubricants and related materials index at -23.8 percent. Likewise, the annual growth in the heavily- weighted food index slowed to 0.7 percent. On the other hand, a higher rate of 8.1 percent was noticed in crude materials, inedible except fuels index; chemicals including animal and vegetable oils and fats index, 0.1 percent; and miscellaneous manufactured articles index, 0.4 percent. Movements in the other commodity groups remained at their June rates with the machinery and transport equipment index registering a zero growth.

   

   

• By Commodity Group, Month-on-Month

  Measured from a month ago level, the GWPI went down by 0.2 percent in July. This was mainly due to the declines in the indices of the following commodity groups during the month: crude materials, inedible except fuels,-0.3 percent; mineral fuels, lubricants and related materials, -3.4 percent; and machinery and transport equipment, -0.5 percent. Slower monthly hikes were also observed in the indices of food at 1.2 percent and manufactured goods classified chiefly by materials and miscellaneous manufactured articles, 0.2 percent. However, a higher increase of 0.2 percent was seen in the beverages and tobacco index while the chemicals including animal and vegetable oils and fats index had a zero growth.

   

  A series of price rollbacks in gasoline, diesel and kerosene pushed down the mineral fuels, lubricants and related material index in Luzon by 3.2 percent; Visayas, -6.2 percent; and Mindanao, -2.1 percent. At the national level, the group’s index dropped by 3.4 percent.

  The machinery and transport equipment index in Luzon went down by 0.6 percent as prices of selected electrical appliances and dry cell batteries were lower during the month. Similarly, a 0.1 percent decrease in the group’s index in Mindanao was caused by the downward adjustment in the prices of insulated electrical wires in the area. On the other hand, prices of electrical lamps and fixtures were higher in Visayas. Thus, its group’s index inched up 0.1 percent. At the national level, movement in the index was recorded at -0.5 percent.

  Lower prices of pebbles resulted to a 0.4 percent decline in the crude materials, inedible except fuels index in Luzon. In Visayas, prices of crude materials, inedible except fuels generally remained stable at its index had a zero growth. Meanwhile, increment in the prices of pebbles in Mindanao raised its index by 0.8 percent. The group’s national index decreased by 0.3 percent.

  The food index in Luzon grew by 1.5 percent. This was attributed to price increases in selected food items such as chicken, milk, cheese, fish, bakery products, vegetables and brown sugar. In Visayas, upward adjustments in the prices of eggs, beef, meat products and sugar were offset by the reductions in the prices of rice and some milk products in the area. Hence, the group’s index in the area had a zero growth during the month. Meanwhile, lower prices of flour, calamansi, some vegetables and sugar effected a 0.4 percent decrease in the food index in Mindanao. The national index moved up by 1.2 percent during the period.

  The beverages and tobacco index in Visayas and Luzon rose 0.5 percent and 0.1 percent, respectively. This was brought about by higher prices in selected liquors in the two areas. In Mindanao, prices of beverages and tobacco generally remained stable as its group’s index had a zero growth. In the Philippines, the group’s index picked up 0.2 percent.

  The manufactured goods classified chiefly by materials index in Visayas went up by 0.4 percent. This was due to the price upticks in paper products, woven fabrics, hollow blocks, glass products and G.I. sheets in the area. Likewise, price mark-ups in rubber tires pushed up the group’s index in Mindanao by 0.3 percent. In Luzon, prices of lumber, plywood, glazed tiles and other hardware items were on the uptrend. Thus, the group’s index increased by 0.1 percent. The group’s national index gained by 0.2 percent.

  A 0.2 percent growth in the miscellaneous manufactured articles index in Luzon was brought about by price additions in sanitary fixtures, textbooks, some magazines and office supplies. Add-ons in the prices of some sanitary fixtures, uPVC water pipes and PVC electrical pipes effected a 0.1 percent growth in its group’s index in Mindanao. Meanwhile, the miscellaneous manufactured articles index in Visayas had a zero growth during the month. At the national level, the index advanced by 0.2 percent.

  Increments in the prices of selected vitamins and other medical and pharmaceutical preparations pushed the chemicals including animal and vegetable oils and fats index in Visayas by 0.3 percent. In Luzon, increases in the prices of some medical and pharmaceutical preparations and other cosmetic preparations were offset by the price reduction in paints and some laundry soaps in the area. Thus, the group’s index in the area posted a zero growth. In Mindanao and at the national level, the index for chemicals including animal and vegetable oils and fats had a zero growth.
   

  Note:

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