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

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

p-preliminary
 

YEAR-ON-YEAR
 

1. Annual increment of GWPI at the national level in June 2019 continues to decelerate

The annual increase of GWPI at the national level slowed down further to 2.0 percent in June 2019. In the previous month, the annual rate was higher at 3.9 percent and in June 2018, 9.8 percent. The indices of crude materials, inedible except fuels dropped by 5.3 percent; mineral fuels, lubricants and related materials, 5.8 percent; and chemicals including animal and vegetable oils and fats, 2.6 percent. Moreover, a slower annual gain of 6.8 percent was noted in the index of food. Relative to their annual rates in May 2019, annual add-ons were, however, higher in the indices of beverages and tobacco at 13.7 percent; manufactured goods classified chiefly by materials, 2.0 percent; and miscellaneous manufactured articles, 1.9 percent. The index of machinery and transport equipment retained its previous month’s annual rate of 2.7 percent (see Table 1.1).

2. Annual rate of GWPI in Luzon in June 2019 slowly picks up

The annual growth of GWPI in Luzon, likewise, eased further to 2.3 percent in June 2019. Higher annual increments were posted in May 2019 at 4.4 percent and in June 2018, 10.1 percent. Annual decreases were registered in the indices of crude materials, inedible except fuels at 5.4 percent; mineral fuels, lubricants and related materials, 6.3 percent; and chemicals including animal and vegetable oils and fats, 3.9 percent. In addition, annual hike recorded in the index of food slowed down further to 8.5 percent during the month. Meanwhile, higher annual mark-ups were noted in the indices of beverages and tobacco at 16.9 percent; and manufactured goods classified chiefly by materials at 2.2 percent. The indices of machinery and transport equipment, and miscellaneous manufactured articles retained their previous month’s annual rates of 3.5 percent and 1.9 percent, respectively (see Table 2.1).

3. Annual change of GWPI in Visayas, likewise, moves up at a slower pace in June 2019

The annual hike of GWPI in Visayas decelerated to 1.4 percent in June 2019. In the previous month, its annual change was recorded at 2.0 percent and in June 2018, 7.7 percent. The slowdown was due to the annual declines in the indices of crude materials, inedible except fuels at 8.2 percent; and mineral fuels, lubricants and related materials at 1.7 percent. Moreover, annual increase was slower in the index of food at 2.7 percent. Meanwhile, higher annual rates were seen in the indices of beverages and tobacco at 6.3 percent; and chemicals including animal and vegetable oils and fats, 3.3 percent. The rest of the commodity groups retained their previous month’s annual rates (see Table 3.1).

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

The annual increase of GWPI in Mindanao slid to 0.3 percent in June 2019. In the previous month, its annual increment was posted at 1.4 percent and in June 2018, 8.7 percent. Annual decreases were posted in the indices of food at 0.3 percent; and mineral fuels, lubricants and related materials, 2.9 percent. Compared with their annual rates in the previous month, slower annual hikes were observed in the indices of chemicals including animal and vegetable oils and fats at 1.8 percent; and manufactured goods classified chiefly by materials, 2.3 percent. The rest of the commodity groups retained their previous month’s annual rates (see Table 4.1).

MONTH-ON-MONTH

1. GWPI at the country level drops during the period

Measured from a month ago level, the GWPI in the Philippines decreased by 1.5 percent in June 2019. In May 2019, its rate was noted at 0.5 percent. Declines were registered in the indices of food at 0.9 percent; and mineral fuels, lubricants and related materials at 6.3 percent. Moreover, a slower monthly increment of 0.1 percent was recorded in machinery and transport equipment index. Meanwhile, the indices of beverages and tobacco moved at a faster pace of 1.3 percent; and manufactured goods classified chiefly by materials, 0.6 percent. In addition, after registering declines in the previous month, the indices of crude materials, inedible except fuels rose by 0.8 percent; and chemicals including animal and vegetable oils and fats, 0.2 percent. The index of miscellaneous manufactured articles retained its previous month’s rate of 0.1 percent (see Table 1.2).

2. Wholesale prices of petroleum products decrease during the period

Prices of petroleum products such as crude petroleum oil, gasoline, kerosene, diesel oil, bunker fuel oil, and LPG went down during the month. Thus, the index of mineral fuels, lubricants and related materials dropped by 6.5 percent in Luzon; 4.2 percent in Visayas; and 5.3 percent in Mindanao. For the Philippines, the group’s index fell by 6.3 percent.

3. Food index declines during the month

The food index in Luzon went down by 1.0 percent as beef, pork, canned meat products, milk, fish, rice, fruits, vegetables, and sugar were priced lower during the month. Similarly, the group’s index in Visayas plunged by 0.5 percent, brought about by the decreases in the prices of milk, fish, vegetables, sugar, processed animal feeds, cooking oil, and margarine. In Mindanao, prices of milk, fruits, vegetables, and starch were lower during the month. Thus, the food index in the area fell by 0.5 percent. The group’s index at the national level sank by 0.9 percent.

4. A minimal growth was posted in miscellaneous manufactured articles index

The index of miscellaneous manufactured articles in Luzon inched up by 0.04 percent. This was due to higher prices of sanitary fixtures during the period. Meanwhile, the group’s index in Visayas and Mindanao had a zero growth. At the country level, the group’s index exhibited a 0.1 percent uptick this month.

5. Machinery and transport equipment index increases during the month

The machinery and transport equipment index in Luzon went up by 0.1 percent as battery, selected electrical wires, and switch were priced higher during the period. On the other hand, the group’s index in Mindanao declined by 0.03 percent as prices of switch and convenient outlet decreased 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.

6. Chemicals including animal and vegetable oils and fats picks up during the month

The index of chemicals including animal and vegetable oils and fats in Luzon inched up by 0.1 percent. This was brought about by the increments in the prices of caustic soda flakes, laundry soap, and toilet soap. Similarly, prices of fertilizers, varnishes, lacquer, pharmaceuticals preparations, vulcanizing cement went up in Visayas. Thus, the group’s index in the area moved up by 0.9 percent. Meanwhile, the group’s index in Mindanao had a zero growth. At the country level, the group’s index advanced by 0.2 percent.

7. Crude materials, inedible except fuels index moves up this month

Higher prices of abaca fiber, charcoal, and gravel resulted to a 1.1 percent growth in the index of crude materials, inedible except fuels in Luzon. In Visayas, prices of pebbles were, however, lower during the period. Thus, the group’s index in the area dropped by 0.3 percent. Meanwhile, the group’s index in Mindanao had a zero growth. At the country level, the group’s index moved upward by 0.8 percent.

8. Beverages and tobacco index generally inches up in June 2019

Higher prices of liquors, beer, softdrinks, and cigarettes raised the beverages and tobacco index in Luzon by 1.6 percent. In Visayas, prices of liquors were also higher this month. Hence, the group’s index in the area rose by 0.5 percent. On the other hand, the group’s index in Mindanao had a zero growth. For the Philippines, the group’s index advanced by 1.3 percent.

9. Manufactured goods classified chiefly by materials index is higher this month

The index of manufactured goods classified chiefly by materials in Luzon rose by 0.7 percent as selected rubber products, lumber, plywood, door panel, and selected metal products were priced higher during the month. In Mindanao, the group’s index likewise, went up by 0.1 percent. This was effected by the increments in the prices of selected non-metallic mineral manufactures and selected fabricated wire products. The group’s index in Visayas, however, had a zero growth. At the country level, the group’s index inched up by 0.6 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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