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

p - preliminary
r - revised

Year-on-Year

The General Wholesale Price Index (GWPI) in the country continued to record a negative rate of 4.1 percent in May. In April, it went down by 4.4 percent and in May 2014, it had a positive growth of 5.2 percent. The decline was mainly due to the decreases in the annual rates of crude materials, inedible except fuels index (-6.4%) and mineral fuels, lubricants and related materials index (-26.1%). A slower annual increment was likewise noticed in the heavily-weighted food index at 4.0 percent. However, the beverages and tobacco index posted a higher annual gain of 8.7 percent while the rest of the commodity groups retained their April growths.

• In Luzon, the GWPI went down by 4.8 percent in May. This was brought about by the corresponding declines of 7.6 percent and 26.7 percent in crude materials, inedible except fuels and mineral fuels, lubricants and related materials indices. Moreover, slower annual hikes were seen in the food index at 4.0 percent and beverages and tobacco index, 9.8 percent. On the other hand, the chemicals including animal and vegetable oils and fats index moved at a faster rate of 2.4 percent and miscellaneous manufactured articles index, 2.2 percent. The indices of manufactured goods classified chiefly by materials and machinery and transport equipment retained their growths of 2.4 percent and 3.1 percent, respectively.

• A similar trend was observed in the GWPI in Visayas as it decreased by 0.3 percent in May. This was effected by the reductions in the indices of crude materials, inedible except fuels at 0.2 percent and in mineral fuels, lubricants and related materials, 19.9 percent. Likewise, the annual growth of the food index eased to 6.5 percent. Meanwhile, higher annual mark-ups were noted in the beverages and tobacco index at 7.2 percent and machinery and transport equipment index, 0.5 percent. Movements during the month in the other indices remained at their April rates: chemicals including animal and vegetable oils and fats, 0.7 percent; manufactured goods classified chiefly by materials, 0.6 percent; and miscellaneous manufactured articles, 1.0 percent.

• The 1.8 percent annual drop in the GWPI in Mindanao was attributed to the decrease in the mineral fuels, lubricants and related materials index at 22.8 percent. Contributing also to the downtrend were the slowdowns registered in crude materials, inedible except fuels index at 7.3 percent and chemicals including animal and vegetable oils and fats index, 0.7 percent. On the other hand, the food index picked up by 1.2 percent; beverages and tobacco index, 2.4 percent; and miscellaneous manufactured articles index, 0.1 percent. The rest of the commodity groups retained their respective April rates.

• By Commodity Group, Month-on-Month

  On a monthly basis, the increment in the GWPI at the national level improved to 0.4 percent in May. The heavily-weighted food index went down by 1.7 percent. In addition, the increase in the beverages and tobacco index decelerated to 0.3 percent. On the contrary, higher rates were noted in crude materials, inedible except fuels index at 1.7 percent; mineral fuels, lubricants and related material index, 5.3 percent; and chemicals including animal and vegetable oils and fats index, 0.3 percent. The indices for manufactured goods classified chiefly by materials and miscellaneous manufactured articles retained their previous month’s rate of 0.1 percent. The machinery and transport equipment index had a zero growth.

  Lower prices of selected food items like beef, pork, selected fish species, some fruits and vegetables, coffee and desiccated coconut pushed down the food index in Luzon by 2.4 percent. Similarly, downward price adjustments were observed in rice, eggs, milk products and processed fish in Visayas. Thus, the group’s index in the area decreased by 1.2 percent. Meanwhile, higher prices of live-weight hogs, some vegetables, eggs and sugar raised its group’s index in Mindanao by 2.4 percent. These mixed price trends caused a 1.7 percent drop in the group’s national index.

  In Luzon, the month-on-month change in the beverages and tobacco index was pegged at -0.1 percent as selected liquors were priced lower in the area during the month. However, price add-ons in selected cigarettes in Visayas and Mindanao triggered a 2.7 percent increase in the group’s index in Visayas and in Mindanao, 1.1 percent. At the national level, movement in the group’s index inched up 0.3 percent.

  Price hikes in gasoline, diesel, kerosene and LPG pushed up the mineral fuels, lubricants and related materials index in the Philippines by 5.3 percent; Luzon and Visayas, 5.5 percent; and Mindanao, 2.9 percent.

  The crude materials, inedible except fuels index in Luzon rose 1.9 percent as prices of copra, sand, gravel and pebbles were on the uptrend. In Visayas, prices of charcoal were higher during the month. Price mark-ups were also seen in sand and gravel in Mindanao. Hence, the group’s index in the two areas picked up by 0.3 percent. At the national level, its index advanced 1.7 percent.

  A 0.4 percent growth in chemicals including animal and vegetable oils and fats index in Luzon was brought about by price additions in coconut oil, paints, some pharmaceutical products and other medical and pharmaceutical preparations. Upward adjustments in the prices of paints and some medical and pharmaceutical products caused a 0.3 percent uptick in its group’s index in Visayas. In Mindanao, prices of chemicals including animal and vegetable oils and fats generally remained stable as it recorded a zero growth during the period. The group’s index in the Philippines grew by 0.3 percent.

  In Mindanao, the manufactured goods classified chiefly by materials index climbed 0.6 percent. This was due to the price hikes in rope and cement. Prices of rubber tube, lumber door jambs, paperboard and cement were also higher in Luzon. In Visayas, prices of paper products were on the uptrend. Thus, the group’s index in Luzon, Visayas and in the Philippines moved up by 0.1 percent.

  Higher prices of watches in Mindanao effected a 0.2 percent growth in the miscellaneous manufactured articles index in the area. In Visayas, its group’s index inched up by 0.1 percent due to add-ons in the prices of some sanitary fixtures. In Luzon, prices of other miscellaneous articles went up during the month while lower prices were seen in selected undergarments. These offsetting price movements resulted to a zero growth in the group’s index in the area. At the national level, the group’s index gained 0.1 percent.

  A 0.2 percent growth in the machinery and transport equipment index in Visayas was attributed to the increment in the prices of electrical lamps and fixtures. In Luzon, increased prices of electrical appliances were offset by price cuts in some insulated electrical wires. Thus, no movement was posted in its group’s index in Luzon. In Mindanao and in the Philippines, the group’s index remained stable as they 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).