Year-on-Year Growth Rates, All Items
October 2015 - October 2016

p - preliminary
r - revised

•Year-on-Year

The year-on-year growth of General Wholesale Price Index (GWPI) at the national level further moved upward to 3.0 percent in October 2016. Last month, it was recorded at 1.9 percent, while in October 2015 it dropped by 3.1 percent. Higher annual increments were noticed in the indices of food at 4.3 percent; chemicals including animal and vegetable oils and fats, 11.1 percent; manufactured goods classified chiefly by materials, 0.4 percent; and miscellaneous manufactured articles, 2.1 percent. Slower annual gains were, however, noted in the indices of crude materials, inedible except fuels, 19.4 percent; and machinery and transport equipment, 0.1 percent. On the other hand, the annual change in mineral fuels, lubricants and related materials index decreased by 1.0 percent while beverages and tobacco index moved at its previous month’s rate of 1.9 percent (Table 1.2).

• On an annual basis, the GWPI in Luzon accelerated to 3.2 percent in October 2016. In September 2016, the rate was 1.9 percent and in October 2015, -3.5 percent. Annual add-on was higher in food index at 4.0 percent; chemicals including animal and vegetable oils and fats index, 13.6 percent; manufactured goods classified chiefly by materials index, 0.6 percent; and miscellaneous manufactured articles index, 2.5 percent. However, slowdowns in the annual increases were correspondingly observed in the indices of crude materials, inedible except fuels and machinery and transport equipment at 20.3 percent and 0.2 percent. In addition, annual adjustment of mineral fuels, lubricants and related materials index fell by 0.6 percent. That for beverages and tobacco index remained at 2.2 percent (Table 2.2).
  
• In Visayas, the GWPI rose 3.0 percent in October 2016. A higher annual uptick was posted in crude materials, inedible except fuels index at 15.8 percent and mineral fuels, lubricants and related materials index, 4.3 percent. Meanwhile, the annual increase in food index slowed down to 5.6 percent; beverages and tobacco index, 1.0 percent; and chemicals including animal and vegetable oils and fats index, 1.1 percent. On the other hand, negative annual rates were still noted in the indices manufactured goods classified chiefly by materials at -2.1 percent and miscellaneous manufactured articles, -0.8 percent. Annual change in machinery and transport equipment index remained at its last month’s rate of 0.2 percent (Table 3.2).
  
• The annual growth of the GWPI in Mindanao slowed to 1.1 percent in October 2016. In September 2016, the rate was 1.3 percent and in October 2015, -1.0 percent. The slowdown resulted from an annual decline of 13.8 percent in the mineral fuels, lubricants and related materials index. Lower annual rate was also noticed in the crude materials, inedible except fuels index at 11.2 percent. Meanwhile, higher annual increases were posted in food index at 4.8 percent; chemicals including animal and vegetable oils and fats index, 0.7 percent; and machinery and transport equipment index, 0.2 percent. The beverages and tobacco index retained its last month’s rate of 0.5 percent; manufactured goods classified chiefly by materials index, 0.8 percent; and miscellaneous manufactured articles index, 1.5 percent (Table 4.2).

•By Commodity Group, Month-on-Month

The month-on-month adjustment of the GWPI in the Philippines advanced by 1.4 percent in October 2016. Last month, it rose 0.6 percent. Increments were higher in the indices of mineral fuels, lubricants and related materials, 4.5 percent; chemicals including animal and vegetable oils and fats, 4.7 percent; and miscellaneous manufactured articles, 0.6 percent. Moreover, from zero growth last month, the index of food increased by 0.7 percent. On the other hand, the index for crude materials, inedible except fuels dropped by 0.2 percent. The manufactured goods classified chiefly by materials and machinery and transport equipment indices maintained their previous month’s rate of 0.1 percent while beverages and tobacco index recorded flat growth (Table 1.1).

• The index for mineral fuels, lubricants and related materials in Luzon picked up 4.9 percent. This was brought about by the price hikes in gasoline, kerosene, diesel oil, bunker fuel, crude petroleum oil and LPG. Similarly, the group’s index in Visayas climbed by 5.2 percent due to upward adjustments in the prices of gasoline, kerosene and diesel oil. However, prices of gasoline went down in Mindanao. Hence, the group’s index in the area fell by 2.9 percent. For the Philippines, the group’s index accelerated 4.5 percent.
  
• In Luzon, the index for chemicals including animal and vegetable oils and fats advanced by 5.8 percent. This was brought about by the higher prices in coconut oil, varnish, lacquer, and selected medicinal and pharmaceutical preparations. A flat growth was noticed, however, in the group’s index in Visayas and Mindanao. At the national level, the index moved up by 4.7 percent.
  
• The food index in Luzon rose 0.8 percent in October as price mark-ups were observed in pork, beef, meat products, powdered milk, processed fish, rice, sotanghon and noodles, fruits and vegetables, sugar, cocoa and chocolate products, desiccated coconut and some miscellaneous food products. In Visayas, prices of eggs, pork, beef, selected meat products, processed fish, rice, sotanghon and fruits and vegetables were higher during the month. Thus, the food index in the area went up by 0.5 percent. Likewise, the group’s index in Mindanao gained by 0.4 percent as prices of selected bakery products, fruits and vegetables went up during the month. For the Philippines, the group’s index increased 0.7 percent.
  
• The 0.8 percent growth in the miscellaneous manufactured articles index in Luzon was due to the upward adjustments in the prices of selected footwear and miscellaneous manufactures. On the contrary, downward movements in the prices of selected sanitary fixtures and bed mattress pushed down the group’s index in Visayas by 0.1 percent. In Mindanao, the group’s index recorded a flat growth. At the national level, the group’s index rose 0.6 percent.
  
• In Luzon, prices of cement, glazed tile, flat bar, selected tires and inner tubes, selected paper products, stamped, coated and engraved metals and selected fabricated wire products went up during the month. Thus, the index for manufactured goods classified chiefly by materials in the area inched up 0.1 percent. Higher prices of plywood, fish net, glass and glass products, marble chips, stamped and coated and engraved metals noted in Mindanao. Hence, a 0.1 percent growth was observed in its group’s index in the area. Lower prices of cement in Visayas, however, pushed down the group’s index by 0.1 percent. At the country level, the group’s index accelerated 0.1 percent.
  
• The 0.2 percent growth in machinery and transport equipment index in Mindanao was due to the increases in the prices of selected electrical apparatus and appliances. In Luzon, it recorded a 0.1 percent growth during the month due to upward adjustments in the prices of battery. A flat growth was noticed, however, in the group’s index in Visayas. For the Philippines, it moved up by 0.1 percent.
  
• Lower prices of copra pushed down the index for crude materials, inedible except fuels index in Luzon by 0.2 percent. Similarly, the group’s index in Mindanao dropped by 0.1 percent as sand was priced lower during the month. However, a 0.4 percent increase in the group’s index in Visayas was observed. This was due to increments in the prices of copra. The national index contracted by 0.2 percent.

NOTE: GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).