General Wholesale Price Index (2012=100) : May 2021

Reference Number: 

2021-280

Release Date: 

Friday, July 16, 2021

Table A. Year-on-Year Growth Rates of the GWPI by Area, All Items
in Percent
(2012=100)

Area May 2020 April 2021 May 2021 Year-to-Date*
 Philippines 1.9 2.7 2.8p 2.6
 Luzon 2.1 2.8 3.0p 2.8
 Visayas 0.4 0.7 0.8 -0.3
 Mindanao 1.6 4.6 4.2 4.1

                                                   p - preliminary
                                                       * Year-on-year change of average GWPI for January to May, 2021 vs. 2020
                                                        Source: Survey of Wholesale Prices of Commodities for the GWPI, Philippine Statistics Authority

                                               

Figure 1. Growth Rates of the GWPI by Area, All Items
May 2020 - May 2021
(2012=100)

GWPI

    

1. The country’s GWPI went up in May 2021

At the country level, the year-on-year change of GWPI rose to 2.8 percent in May 2021, from 2.7 percent in April 2021. The annual growth rate in May 2020 was posted at 1.9 percent. (Tables A and 2)

Annual hikes were higher in the indices of the following commodity groups during the month:

          a. Food, 2.2 percent;
          b. Crude materials, inedible except fuels, 45.1 percent;
          c. Mineral fuels, lubricants and related materials, 18.7 percent;
          d. Chemicals including animal and vegetable oils and fats, 5.9 percent;
          e. Manufactured goods classified chiefly by materials, 0.9 percent; and
          f.  Machinery and transport equipment, 0.8 percent.

The index of beverages and tobacco, however, posted a slower annual increment of 6.3 percent, while that of miscellaneous manufactured articles retained its previous month’s annual rate of 0.7 percent. (Table 2)

2. GWPI in Luzon also increased in May 2021

The GWPI in Luzon, likewise, picked up to 3.0 percent in May 2021. Its annual growth rate in April 2021 was noted at 2.8 percent and in May 2020, 2.1 percent. (Tables A and 2)

Higher annual upticks during the month were recorded in the indices of the following commodity groups:

          a. Food, 2.0 percent;
          b. Crude materials, inedible except fuels, 48.4 percent;
          c. Mineral fuels, lubricants and related materials, 21.8 percent;
          d. Chemicals including animal and vegetable oils and fats, 6.7 percent;
          e. Manufactured goods classified chiefly by materials, 1.0 percent; and
          f.  Machinery and transport equipment, 0.8 percent.

On the other hand, annual hike was slower in the index of beverages and tobacco at 6.4 percent, while the same annual growth rate in the previous month at 0.8 percent was still observed in the index of miscellaneous manufactured articles. (Table 2)

3. Higher annual increment was noted in the GWPI in Visayas in May 2021

The annual change of GWPI in Visayas moved upward to 0.8 percent in May 2021, from 0.7 percent in the previous month. Its annual growth rate in May 2020 was 0.4 percent. (Tables A and 2)

The annual decline of -7.8 percent in the index of mineral fuels, lubricants and related materials during the month was lower compared with its previous month’s annual rate of -12.7 percent. In addition, the index of miscellaneous manufactured articles inched up by 0.01 percent in May 2021, from zero percent annual rate in the previous month.

On the other hand, annual hikes decelerated in the indices of food at 1.8 percent; beverages and tobacco, 5.4 percent; and manufactured goods classified chiefly by materials, 0.3 percent.

Moreover, the annual decline in the index of chemicals including animal and vegetable oils and fats went up further to -1.4 percent during the month.

The indices of crude materials, inedible except fuels; and machinery and transport equipment retained their previous month’s annual growth rates of 0.1 percent and zero percent, respectively, in May 2021. (Table 2)

4. GWPI in Mindanao picked up at a slower rate during the month

The annual increase of GWPI in Mindanao was slower at 4.2 percent in May 2021, from 4.6 percent in April 2021. Its annual rate in May 2020 was recorded at 1.6 percent. (Tables A and 2)

Annual increments slid during the month in the indices of food at 6.6 percent; beverages and tobacco, 4.8 percent; and crude materials, inedible except fuels, 45.0 percent.

On the other hand, annual upticks were higher in the indices of mineral fuels, lubricants and related materials at 5.5 percent; and chemicals including animal and vegetable oils and fats, 3.1 percent. Moreover, the annual growth rate of the index of manufactured goods classified chiefly by materials picked up to 0.4 percent, after registering an annual decrease of -0.4 percent in the previous month.

The indices of machinery and transport equipment, and miscellaneous manufactured articles moved at their previous month’s annual growth rates. (Table 2)
 

 

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