General Wholesale Price Index (1998=100) : September 2018

Reference Number: 

2018-338

Release Date: 

Thursday, December 6, 2018

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

Year-on-Year Changes in Percent of General Wholesale Price Index (GWPI) for
All Items (September 2017 - September 2018)

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 September 9.3p 9.7p 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
 February 4.9 4.7 5.5 6.0
 January 4.8 4.8 5.6 5.2
 2017 4.4 4.6 4.3 2.7
  December 3.5 3.2 4.2 5.2
  November 4.4 4.2 5.3 5.2
  October 3.6 3.6 3.9 4.1
  September 3.9 3.9 4.1 3.1

                                              
                                                p - preliminary

 

 

 

 

• Year-on-Year
    

1. GWPI at the national level post uptrend

     The year-on-year change of GWPI at the country level picked up by 9.3 percent in September 2018. In the previous month, the annual rate was registered at 8.9 percent and in September 2017, 3.9 percent.

     Higher annual increments were noticed in the indices of the following commodity groups:

  • Beverages and Tobacco, (15.3%);
  • Mineral Fuels, Lubricants and Related Materials, (35.5%);
  • Chemicals Including Animal and Vegetable Oils and Fats, (1.0%);
  • Machinery and Transport Equipment, (1.9%); and
  • Miscellaneous Manufactured Articles, (1.7%).

     On the other hand, slower annual gains were registered in the indices of food at 5.2 percent and manufactured goods classified chiefly by materials, 2.4 percent in September 2018 relative to their annual rates in August 2018. The index of crude materials inedible except fuels continued to register an annual drop of 18.0 percent (see Table 1.1).

2. GWPI in Luzon rises

     The annual rate of the GWPI in Luzon, likewise, accelerated by 9.7 percent in September 2018. Its annual rate in August 2018 was posted at 9.2 percent and in September 2017, 3.9 percent. Annual add-ons were higher in the indices of the following commodity groups:

  • Beverages and Tobacco, (13.1%);
  • Mineral Fuels, Lubricants and Related Materials, (36.9%);
  • Machinery and Transport Equipment, (2.2%); and
  • Miscellaneous Manufactured Articles, (1.7%).

     Meanwhile, annual increases decelerated in the indices of food at 4.5 percent and manufactured goods classified chiefly by materials, 2.2 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 19.2 percent and 0.1 percent, respectively (see Table 2.1).

3. GWPI in Visayas moves at a slower rate

     The annual hike of GWPI in Visayas eased to 7.6 percent in September 2018. Its annual growth in the previous month was pegged at 8.3 percent and in September 2017, 4.1 percent. The slowdown was primarily due to the 13.4 percent annual decline in crude materials, inedible except fuels index. Moreover, annual increases were slower in the indices of food at 5.7 percent; mineral fuels, lubricants and related materials, 28.2 percent; and machinery and transport equipment, 0.2 percent. On the other hand, higher annual rates were posted in the indices of chemicals including animal and vegetable oils and fats at 8.3 percent; manufactured goods classified chiefly by materials, 1.1 percent; and miscellaneous manufactured articles, 0.2 percent. That of beverages and tobacco index retained its previous month’s growth of 19.0 percent (see Table 3.1).

4. GWPI in Mindanao accelerates

     The annual increment of GWPI in Mindanao was higher at 8.2 percent in September 2018. In the previous month, its annual growth was posted at 7.5 percent and in September 2017, 3.1 percent. Annual mark-ups were higher in the indices of food at 8.8 percent; manufactured goods classified chiefly by materials, 4.1 percent; and miscellaneous manufactured articles; 2.8 percent. Compared with their annual rates in the previous month, slower annual upticks were, however, noticed in the indices of beverages and tobacco at 27.1 percent; mineral fuels, lubricants and related materials; 19.9 percent; and machinery and transport equipment, 1.4 percent. The annual change in crude materials, inedible except fuels index further dropped by 2.0 percent while that for chemicals including animal and vegetable oils and fats index retained its previous month’s rate of 3.1 percent (see Table 4.1).

 

• Month-on-Month

1. GWPI at the country level further moves upward

     On a monthly basis, GWPI at the national level rose by 1.1 percent in September 2018. In August 2018, its monthly growth was registered at 0.7 percent. Compared with the previous month, higher monthly increases were noted in the indices of mineral fuels, lubricants and related materials at 3.8 percent; machinery and transport equipment, 0.8 percent; and miscellaneous manufactured articles, 0.3 percent. In addition, the index of chemicals including animal and vegetable oils and fats rose by 0.5 percent, from -0.008 percent change in the previous month. Upticks in the indices of food, however, eased to 0.2 percent and beverages and tobacco, 0.9 percent. The indices of crude materials, inedible except fuels fell by 0.6 percent and manufactured goods classified chiefly by materials, -0.4 percent.

2. Wholesale prices of petroleum products increase further during the month

     The index for mineral fuels, lubricants and related materials in Luzon picked up by 3.9 percent; Visayas, 3.8 percent; and in Mindanao, 2.8 percent. This was due to the price hikes in crude petroleum oil, gasoline, kerosene, diesel oil, bunker fuel oil, and LPG. At the national level, the group’s index went up by 3.8 percent.

3. Machinery and transport equipment index for Luzon post increment

     The machinery and transport equipment index in Luzon inched up by 1.0 percent as prices of selected electrical apparatus were higher during the period. Meanwhile, the group’s index in Visayas and Mindanao had a zero growth. For the Philippines, the group’s index rose by 0.8 percent.

4. Increment in the food index is slower during the month

     The food index in Mindanao advanced by 2.7 percent in September 2018 as canned meat products, canned and processed fish, vegetables, unprocessed animal feeds and margarine were priced higher during the period. In Luzon, prices of vegetables, sugar and cocoa products went up during the month. Thus, the food index in the area rose by 0.1 percent. On the other hand, prices of milk, fish, rice, fruits and sugar pushed down the food index in Visayas by 1.6 percent. The food index for the Philippines picked up by 0.2 percent.

5. Chemicals including animal and vegetable oils and fats index register a slight increase

     The index of chemicals including animal and vegetable oils and fats in Luzon increased by 0.5 percent brought about by the increments in the prices of glycerine USP and coconut oil. Similarly, prices of fertilizers, varnish, selected medical and pharmaceutical preparations and insecticides went up in Visayas. Thus, the group’s index in the area moved up by 0.7 percent. In Mindanao, the group’s index in the area went up by 0.1 percent due to higher prices of fertilizers, selected medical and pharmaceutical preparations and insecticides. For the Philippines, the group’s index inched up by 0.5 percent.

6. Beverages and tobacco index generally picks up at lower rate during the period

     Price gains in cigarettes effected the 1.1 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of liquors were also higher this month. Hence, the group’s index in the area inched up by 0.1 percent. Meanwhile, decreases in the prices of liquors pushed down the group’s index in Mindanao by 0.03 percent. For the Philippines, the group’s index rose by 0.9 percent.

7. Miscellaneous manufactured article index records a minimal uptick

     A 0.3 percent growth posted in miscellaneous manufactured articles index in Luzon can be attributed to higher price of men’s watch. Similarly, the group’s index in Visayas went up by 0.1 percent brought about by the increases in the prices of steel bed and mattress. In Mindanao, the group’s index in the area rose by 0.9 percent due to higher prices in selected ready-made clothing items and undergarments. At the national level, the group’s index gained by 0.3 percent.

8. The index of crude materials, inedible except fuels generally moves downward

     The index of crude materials, inedible except fuels in Luzon fell by 0.8 percent. This was due to lower prices of copra and abaca fiber in the area. Lower price of charcoal also pushed down its group’s index in Mindanao by 0.1 percent. Meanwhile, price hike in copra raised its group’s index in Visayas by 0.9 percent. At the country level, the group’s index dropped by 0.6 percent.

9. Manufactured goods classified chiefly by materials index generally declines during the month

     The index of manufactured goods classified chiefly by materials in Luzon went down by 0.6 percent as steel bars and steel casement were priced lower during the month. On the contrary, the group’s index in Visayas picked up by 0.3 percent due to higher prices noted in plywood, cement and selected glass and glass products. In Mindanao, the group’s index likewise, rose by 0.4 percent. This was effected by the increments in the prices of selected paper products, thread, rope, fish net, steel bars, flat bar, G.I. electrical pipe, aluminum foil and scissors. At the national level, the group’s index went down by 0.4 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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