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

Reference Number: 

2019-153

Release Date: 

Thursday, May 23, 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 : March 2018 - March 2019

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2019        
 March 4.8p 5.3p 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
 March 5.4 5.2 5.8 6.4

                                              
                                                p - preliminary

 

 

GWPI

 

 

• YEAR-ON-YEAR
    

1. Higher annual increment of GWPI at the national level is noted during the month

     The year-on-year change of GWPI at the country level picked up by 4.8 percent in March 2019. In the previous month, the annual rate was 3.2 percent and in March 2018, 5.4 percent. Higher annual increments were observed in the indices of the following commodity groups:

  • Food, 8.6 percent;
  • Beverages and tobacco, 10.8 percent;
  • Mineral fuels, lubricants and related materials, 5.6 percent;
  • Manufactured goods classified chiefly by materials, 1.3 percent; and
  • Miscellaneous manufactured articles, 2.0 percent.

      On the other hand, a slower annual gain of 2.2 percent was recorded in the index of machinery and transport equipment. The indices of crude materials inedible except fuels and chemicals including animal and vegetable oils and fats continued to register annual decreases of 12.5 percent and 2.5 percent, respectively (see Table 1.1).

2. Annual rate of increase of GWPI in Luzon is faster than previous month

     The annual growth of GWPI in Luzon, likewise, accelerated by 5.3 percent in March 2019. Its annual change in February 2019 was posted at 3.6 percent and in March 2018, 5.2 percent. Annual add-ons were higher in the indices of the following commodity groups:

  • Food, 11.0 percent;
  • Mineral fuels, lubricants and related materials, 5.4 percent;
  • Manufactured goods classified chiefly by materials, 1.0 percent; and
  • Miscellaneous manufactured articles, 2.0 percent.

     Meanwhile, annual increases slowed down in the indices of beverages and tobacco at 13.3 percent, and machinery and transport equipment at 2.9 percent. Annual movements in the indices of crude materials, inedible except fuels; and chemicals including animal and vegetable oils and fats were still on the downtrend as their rates decreased by 13.6 percent and 4.4 percent, respectively (see Table 2.1).

3. Annual rate of GWPI in Visayas accelerates

     The annual mark-up of GWPI in Visayas was higher at 2.6 percent in March 2019. In the previous month, its annual growth was noted at 1.1 percent and in March 2018, 5.8 percent. Annual gains were higher in the indices of beverages and tobacco at 5.8 percent, and mineral fuels, lubricants and related materials at 7.7 percent. Meanwhile, annual increases were slower in the indices of manufactured goods classified chiefly by materials at 0.3 percent; and miscellaneous manufactured articles, 0.1 percent. Moreover, the index of food inched up by 1.6 percent from 1.2 percent annual decline in the previous month. On the other hand, the annual rate of crude materials, inedible except fuels index decreased by 8.9 percent.  The indices of chemicals including animal and vegetables oils and fats, and machinery and transport equipment retained their previous month’s annual rates of 7.6 percent and zero growth, respectively, during the month (see Table 3.1).

4. GWPI in Mindanao, likewise, picks up

     The annual change of GWPI in Mindanao rose by 1.9 percent in March 2019. Its annual growth in February 2019 was recorded at 1.1 percent and in March 2018, 6.4 percent. Annual upticks were faster in the indices of crude materials, inedible except fuels at 2.3 percent; and mineral fuels, lubricants and related materials, 8.7 percent. Moreover, the indices of food and machinery and transport equipment picked up by 0.4 percent and 0.5 percent, respectively, after registering declines in the previous month. Meanwhile, a slower annual increase of 2.5 percent was observed in the index of chemicals including animal and vegetable oils and fats. The other commodity groups retained their previous month’s annual rates (see Table 4.1).

 

• MONTH-ON-MONTH

1. Month-on-month change of GWPI at the country level moves upward

     On a monthly basis, the GWPI at the national level climbed by 1.2 percent in March 2019. Its rate in February 2019 was posted at 0.4 percent. Higher increments were observed in the indices of manufactured goods classified chiefly by materials at 0.7 percent, and miscellaneous manufactured articles at 0.9 percent.  In addition, the index of food rose by 0.8 percent from a decline of 2.8 percent in the previous month. Slower increments were, however, noticed in the indices of beverages and tobacco at 0.2 percent, and mineral fuels, lubricants and related materials at 4.2 percent. Moreover, declines were observed in the indices of crude materials, inedible except fuels at 0.4 percent, and chemicals including animal and vegetable oils and fats at 1.6 percent. Machinery and transport equipment index retained its previous month’s rate of 0.1 percent (see Table 1.2).

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

     Lower price hikes during the month on petroleum products resulted to slower rates of increments in mineral fuels, lubricants and related materials index in the three island groups: Luzon, 4.3 percent; Visayas, 3.6 percent; and Mindanao, 4.8 percent. At the national level, the group’s index went up at a slower rate of 4.2 percent.

3. Wholesale prices for food items generally climb during the month

     The food index in Luzon picked up by 0.7 percent in March 2019. This was brought about by higher prices of liveweight chicken, eggs, canned meat products, dairy products, fruits, unprocessed animal feeds, tonic food drink, and coffee beans. In Visayas, prices of beef, selected dairy products, fish, bakery products, fruits, coffee beans, and desiccated coconut went up during month. Thus, the food index in the area rose by 1.3 percent. Similarly, the group’s index in Mindanao moved up by 1.1 percent due to higher prices of selected dairy products, fish, unmilled corn, rice, bakery products, fruits, and instant coffee. The group’s index at the national level moved upward by 0.8 percent.

4. Manufactured goods classified chiefly by materials index picks up this month

     The index of manufactured goods classified chiefly by materials in Luzon went up by 0.9 percent as luggage, paper products, textile mill products, cement, hollow blocks, angle bar, G.I. sheets, G.I. pipe, electrical metal tubing, G.I. drum, and fabricated wire products were priced higher during the month. In Mindanao, lower prices of plywood, steel and flat bars, G.I. sheets, and G.I. pipe, however, pushed down the group’s index by 0.05 percent. The group’s index in Visayas, however, had a zero growth. At the country level, the group’s index inched up by 0.7 percent.

5. Miscellaneous manufactured articles index moves up

     The index of miscellaneous manufactured articles in Luzon gained by 1.1 percent. This was due to higher prices of selected clothing items and footwear during the period. For Mindanao, price upticks in steel bed, and columnar pad slightly raised its group’s index by 0.02 percent. On the contrary, the group’s index in Visayas had a zero growth. At the country level, the group’s index exhibited a 0.9 percent gain this month.

6. Machinery and transport equipment index slightly increases during the month

     The machinery and transport equipment index in Luzon inched up by 0.1 percent brought about by higher prices of electrical wires. Similarly, the group’s index in Mindanao advanced by 0.4 percent as prices of selected electrical apparatus and 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.

7. Mixed price movements of beverages and tobacco items are observed during the period

     Higher prices in liquors, and beer effected the 3.8 percent growth in beverages and tobacco index in Visayas. On the other hand, the group’s index in Luzon went down by 0.2 percent due to the decline in the price of beer. Lower prices of cigarettes in Mindanao also resulted to 0.01 percent drop in its group’s index. The group’s index at the country level recorded an increase of 0.2 percent in March 2019.

8. Indices of crude materials, inedible except fuels in Luzon and Visayas decline while that in Mindanao picks up

     Lower prices of copra, and adobe blocks stone pushed down the group’s index of crude materials, inedible except fuels in Luzon by 0.5 percent. Moreover, the price of copra went down in Visayas. Thus, the group’s index in the area fell by 0.6 percent. Increases in the prices of bamboo, charcoal, and sand, however, raised its group’s index in Mindanao by 1.0 percent. At the country level, the group’s index moved downward by 0.4 percent

9. 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 2.1 percent as prices of coconut oil, paints, varnishes, and selected medical and pharmaceutical preparations were lower during the month. On the contrary, prices of selected medical and pharmaceutical preparations, laundry soap, and vulcanizing cement 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 selected medical and pharmaceuticals preparations, toilet soap, and insecticides. At the national level, the group’s index dropped by 1.6 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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