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

Reference Number: 

2019-194

Release Date: 

Wednesday, July 10, 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 : May 2018 - May 2019

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2019        
 May 3.9 4.4 2.0 1.4
 April 4.7 5.4 1.5 1.3
 March 5.5 6.3 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

                                              
                                               

 

 

Year-on-Year

 

 

YEAR-ON-YEAR
    

1. Annual increment of GWPI at the national level in May 2019 continues to move at a slower pace

     The annual increase of GWPI at the national level slowed down further to 3.9 percent in May 2019. In the previous month, the annual rate was pegged at 4.7 percent and in May 2018, 8.4 percent. The indices of crude materials, inedible except fuels, and chemicals including animal and vegetable oils and fats dropped by 11.8 percent and 3.3 percent, respectively. Moreover, slower annual gains were noted in the indices of food at 8.2 percent; mineral fuels, lubricants and related materials, 1.9 percent; and miscellaneous manufactured articles, 1.8 percent. Meanwhile, annual add-ons were higher in the indices of beverages and tobacco at 12.2 percent; manufactured goods classified chiefly by materials, 1.5 percent; and machinery and transport equipment, 2.7 percent (see Table 1.1).

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

     The annual growth of GWPI in Luzon, likewise, eased further to 4.4 percent in May 2019. Its annual change in April 2019 was posted at 5.4 percent and in May 2018, 8.4 percent. Annual decreases were still registered in the indices of crude materials, inedible except fuels at 12.8 percent; and chemicals including animal and vegetable oils and fats at 4.7 percent. Moreover, annual hikes recorded in the indices of food slowed down further to 10.0 percent; and mineral fuels, lubricants and related materials; and miscellaneous manufactured articles, both at 1.9 percent. Meanwhile, higher annual mark-ups were noted in the indices of beverages and tobacco at 15.0 percent; manufactured goods classified chiefly by materials, 1.5 percent; and machinery and transport equipment, 3.5 percent (see Table 2.1).

3. Annual change of GWPI in Visayas accelerates in May 2019

     The annual rate of GWPI in Visayas rose by 2.0 percent in May 2019. In the previous month, its annual change was recorded at 1.5 percent and in May 2018, 7.4 percent. This was due to higher annual uptick in food index at 3.4 percent. Meanwhile, annual increases were slower in the indices of mineral fuels, lubricants and related materials at 2.2 percent; and chemicals including animal and vegetable oils and fats, 2.4 percent. The annual rate of crude materials, inedible except fuels index was still on the downtrend as it decreased by 9.8 percent during the month. The rest of the commodity groups retained their previous month’s annual rates (see Table 3.1).

4. Annual rate of GWPI in Mindanao, likewise, grows faster during the month

     The annual growth of GWPI in Mindanao climbed by 1.4 percent in May 2019. In the previous month, its annual increment was posted at 1.3 percent and in May 2018, 8.9 percent. From an annual decline of 0.7 percent in the previous month, the food index increased by 1.0 percent this month. Moreover, annual mark-up in the index of beverages and tobacco was higher at 0.4 percent. On the other hand, annual increases decelerated in the indices of the following commodity groups:

  • Crude materials, inedible except fuels, 2.2 percent;
  • Mineral fuels, lubricants and related materials, 1.6 percent;
  • Chemicals including animal and vegetable oils and fats, and miscellaneous manufactured articles, both at 2.3 percent; and
  • Manufactured goods classified chiefly by materials, 2.6 percent.

     The machinery and transport equipment index retained its previous month’s annual rate of 0.1 percent in May 2019 (see Table 4.1).

 

MONTH-ON-MONTH

1. GWPI at the country level moves upward

     On a monthly basis, the GWPI at the national level increased by 0.5 percent in May 2019. Its monthly change in April 2019 was posted at 0.1 percent. The food index picked up by 0.6 percent after registering a 0.4 percent drop in the previous month. In addition, higher monthly gains were observed in the indices of beverages and tobacco at 0.9 percent; manufactured goods classified chiefly by materials, 0.3 percent; and machinery and transport equipment, 0.4 percent. Slower monthly hikes were, however, noticed in the indices of mineral fuels, lubricants and related materials at 0.9 percent; and miscellaneous manufactured articles at 0.1 percent. Declines were observed in the indices of crude materials, inedible except fuels at 1.2 percent; and chemicals including animal and vegetable oils and fats at 0.4 percent (see Table 1.2).

2. Wholesale prices of food items pick up during the month

     The food index in Luzon went up by 0.5 percent in May 2019. This was brought about by higher prices of liveweight chicken, uncanned meat products, milk, fruits, and vegetables. In Visayas, prices of canned meat products, butter, cereal preparations, bakery products, fruits, vegetables, and sugar went up during the month. Thus, the food index in the area rose by 1.0 percent. Similarly, the group’s index in Mindanao moved up by 1.1 percent due to higher prices of dairy products, fish, unmilled corn, fruits, vegetables, animal feeds, cocoa and chocolate products, and starch. The group’s index at the national level moved upward by 0.6 percent.

3. Wholesale prices of petroleum products increase at slower rates during the period

     Lower prices of petroleum products such as gasoline and LPG pushed down the index of mineral fuels, lubricants and related materials in Mindanao by 0.8 percent. On the other hand, the group’s index in Luzon climbed by 1.0 percent. This was attributed to higher prices of gasoline, diesel oil, and bunker fuel oil. Similarly, the group’s index in Visayas moved up by 0.4 percent due to add-ons in the prices of gasoline, diesel oil, kerosene, and LPG. For the Philippines, the group’s index went up at a slower pace of 0.9 percent.

4. Machinery and transport equipment index for Luzon posts increment

     The machinery and transport equipment index in Luzon went up by 0.5 percent as battery was priced higher during the period. Similarly, the group’s index in Mindanao inched up by 0.01 percent as prices of selected electrical lamps moves up during the period. Meanwhile, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index rose by 0.4 percent.

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

     The index of manufactured goods classified chiefly by materials in Luzon advanced by 0.4 percent as prices of tires and inner tubes, rubber products for non-industrial use, lumber, plywood, paper products, cement, hollow blocks, steel and flat bars were higher during the month. In Mindanao, the group’s index, likewise, went up by 0.2 percent. This was effected by the increments in the prices of selected paper products. The group’s index in Visayas, however, had a zero growth. At the country level, the group’s index gained by 0.3 percent.

6. Beverages and tobacco index generally moves up during the period

     Higher prices of liquors, beer, and softdrinks resulted to a 1.0 percent growth in beverages and tobacco index in Luzon. In Mindanao, the price of beer was also higher this month. Hence, the group’s index in the area rose by 0.3 percent. Meanwhile, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index advanced by 0.9 percent.

7. Miscellaneous manufactured articles index climbs this month

    The index of miscellaneous manufactured articles in Luzon inched up by 0.04 percent. This was due to higher prices of selected sanitary fixtures, undergarments, selected office supplies, and toothbrush 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 growth this month.

8. Index of crude materials, inedible except fuels decreases during the month

     Lower prices of copra, abaca, and pebbles pushed down the group’s index of crude materials, inedible except fuels in Luzon by 1.4 percent. Likewise, the price of copra went down in Visayas. Thus, the group’s index in the area dropped by 0.5 percent. Increase in the price of charcoal in Mindanao, however, raised its group’s index by 0.1 percent. For the Philippines, the group’s index moved downward by 1.2 percent.

9. Chemicals including animal and vegetable oils and fats index generally drops during the period

     The index of chemicals including animal and vegetable oils and fats in Luzon declined by 0.4 percent as coconut oil was priced lower during the month. Similarly, the group’s index in Visayas fell by 0.1 percent brought about by the decreases in the prices of selected medical and pharmaceutical preparations. On the contrary, prices of selected medical and pharmaceutical preparations went up in Mindanao. Thus, the group’s index in the area slightly moved up by 0.002 percent. At the national level, the group’s index dropped by 0.4 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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