General Wholesale Price Index (2012=100) : September 2019

Reference Number: 

2019-358

Release Date: 

Monday, December 23, 2019

GENERAL WHOLESALE PRICE INDEX (GWPI)
(2012=100)

Year-on-Year Changes of General Wholesale Price Index (GWPI) for All Items
by Area, in Percent : September 2018 - September 2019

YEAR/MONTH
(1)
PHILIPPINES
(2)
LUZON
(3)
VISAYAS
(4)
MINDANAO
(5)
 2019        
 September 1.9p 2.0p 1.6 0.6
 August 1.7p 1.8p 2.1 1.0
 July 1.5 1.4 2.3 1.2
 June 1.7 1.6 2.2 1.4
 May 1.2 0.9 2.4 2.2
 April 1.1 1.1 1.8 2.2
 March 1.1 0.9 1.8 2.5
 February 0.8 0.7 1.6 2.1
 January 1.3 1.1 2.1 3.1
 2018 1.9 1.8 2.6 4.1
 December 1.3 1.2 2.2 2.6
 November 1.9 1.9 2.3 3.3
 October 2.2 2.1 2.9 3.9
 September 2.2 1.9 2.8 4.6

                                              p-preliminary
                                               

 

 

GWPI

 

 

YEAR-ON-YEAR
    

1. Annual rate of GWPI at the national level continues to move upward

     The year-on-year change of GWPI at the country level picked up further by 1.9 percent in September 2019. In the previous month, the annual rate was registered at 1.7 percent and in September 2018, 2.2 percent. Higher annual increments were noticed in the indices of food at 3.6 percent; beverages and tobacco, 13.8 percent; and manufactured goods classified chiefly by materials, 1.6 percent. On the other hand, a slower annual gain of 2.7 percent was noted in the index of machinery and transport equipment. Moreover, annual declines were still recorded in the indices of crude materials, inedible except fuels at 16.0 percent; mineral fuels, lubricants and related materials, 12.4 percent; and chemicals including animal and vegetable oils and fats, 4.4 percent. The index of miscellaneous manufactured articles retained its previous month’s annual rate of 1.6 percent (see Table 1.1).

2. Annual change of GWPI in Luzon increases further during the month

     The annual rate of GWPI in Luzon, likewise, went up further by 2.0 percent in September 2019. Its annual increment in August 2019 was posted at 1.8 percent and in September 2018, 1.9 percent. Annual add-ons were higher in the indices of food at 3.9 percent; beverages and tobacco, 15.4 percent; and manufactured goods classified chiefly by materials, 1.7 percent. Meanwhile, annual gain decelerated in the index of machinery and transport equipment at 3.0 percent. In addition, annual decreases were still observed in the indices of crude materials, inedible except fuels at 17.0 percent; mineral fuels, lubricants and related materials, 13.3 percent; and chemicals including animal and vegetable oils and fats, 5.0 percent. Annual movement of miscellaneous manufactured articles index remained at 1.6 percent (see Table 2.1).

3. Annual rate of GWPI in Visayas moves up at a slower pace

     The annual hike of GWPI in Visayas eased further to 1.6 percent in September 2019. Its annual growth in the previous month was registered at 2.1 percent and in September 2018, 2.8 percent. Annual rates in the indices of crude materials, inedible except fuels decreased further by 13.8 percent; and mineral fuels, lubricants and related materials, 6.7 percent. Likewise, the annual change of manufactured goods classified chiefly by materials declined by 0.1 percent. Annual increases were slower in the indices of food at 4.2 percent; beverages and tobacco, 4.5 percent; and chemicals including animal and vegetable oils and fats, 0.6 percent. Meanwhile, the indices of machinery and transport equipment and miscellaneous manufactured articles had zero growth during the month (see Table 3.1).

4. Annual rate of GWPI in Mindanao, likewise, slows down during the month

     The annual gain of GWPI in Mindanao slid further by 0.6 percent in September 2019. In the previous month, its annual uptick was higher at 1.0 percent and in September 2018, 4.6 percent. Annual changes in the indices of food and crude materials, inedible except fuels, both fell by 0.8 percent; and chemicals including animal and vegetable oils and fats, 1.3 percent. Compared with their annual mark-ups in the previous month, annual hikes decelerated in the indices of mineral fuels, lubricants and related materials at 0.4 percent; manufactured goods classified chiefly by materials, 1.4 percent; and miscellaneous manufactured articles, 4.7 percent. Meanwhile, higher annual gains were noted in the indices of beverages and tobacco at 0.4 percent; and machinery and transport equipment, 3.0 percent (see Table 4.1).
 

MONTH-ON-MONTH

1. GWPI at the country level picks up at a lower rate during the period

     On a monthly basis, the rate of increase of GWPI at the national level slowed down to 0.2 percent in September 2019. In August 2019, its monthly rate was registered at 0.4 percent. The indices of mineral fuels, lubricants and related materials declined by 0.2 percent; chemicals including animal and vegetable oils and fats, 0.004 percent; and miscellaneous manufactured articles, 0.03 percent. Moreover, upticks in the indices of food slipped to 0.2 percent; beverages and tobacco, 0.8 percent; and machinery and transport equipment, 0.04 percent. On the other hand, the indices of crude materials, inedible except fuels moved up at a faster pace of 2.2 percent and manufactured goods classified chiefly by materials, 0.2 percent (see Table 1.2).

2. Wholesale prices of petroleum products are still on a downtrend

     Price decreases in petroleum products such as gasoline and kerosene in Luzon resulted to a 0.001 percent drop in its group index of mineral fuels, lubricants and related materials. Similarly, lower prices of gasoline, diesel oil, and bunker fuel oil were observed in Visayas. Thus, the group’s index in the area fell by 3.1 percent. Meanwhile, the group’s index in Mindanao had a zero growth. For the Philippines, the group’s index declined by 0.2 percent.

3. Miscellaneous manufactured articles index in Luzon declines

     The index of miscellaneous manufactured articles in Luzon shrank by 0.03 percent as prices of PVC water pipe, and selected office and school supplies were lower during the month. On the other hand, the group’s index in Visayas and Mindanao had a zero growth. For the Philippines, the group’s index dropped by 0.03 percent.

4. Increment in the country’s food index is slower during the month

     The food index in Luzon advanced by 0.3 percent in September 2019 as eggs, milk, butter, fish preparations, rice, fruits, and vegetables were priced higher, while prices of beef, pork, and sugar dropped during the period. In Mindanao, prices of shrimps and tea went up during the month. Thus, the food index in the area slightly rose by 0.004 percent. On the other hand, lower prices of milk and fish pushed down the food index in Visayas by 0.7 percent. The food index for the Philippines picked up at a lower rate of 0.2 percent.

5. Beverages and tobacco index increases at a lower rate during the period

     Price gains in cigarettes effected the 0.8 percent growth in beverages and tobacco index in Luzon. This was, however, slower compared with its increase in the previous month at 1.7 percent. Likewise, the group’s index in Mindanao inched up by 0.01 percent due to the increment in the price of bottled drinking water. On the other hand, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index rose by 0.8 percent in September from 1.4 percent in August.

6. Machinery and transport equipment index records minimal increase during the month

     A 0.04 percent uptick in machinery and transport equipment index in Luzon was attributed to higher price of electrical switch. Similarly, the group’s index in Mindanao went up by 0.1 percent brought about by the increase in the price of fire extinguisher. Meanwhile, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index inched up by 0.04 percent.

7. Crude materials, inedible except fuels index moves upward

    Higher prices of copra raised the indexes of crude materials, inedible except fuels in Luzon by 2.3 percent and in Mindanao, 4.9 percent. Meanwhile, the group’s index in Visayas had a zero growth. At the national level, the group’s index gained by 2.2 percent.

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

     The index of manufactured goods classified chiefly by materials in Luzon went up by 0.2 percent as concrete pipe, hollow blocks, and tiles were priced higher during the month. In Visayas, lower price of G.I. wire, however, pushed down the group’s index by 0.002 percent. Similarly, the group’s index in Mindanao dropped by 0.1 percent due to the decrease in the price of diaper. At the country level, the group’s index inched up by 0.2 percent.

9. Mixed movements in the indexes of chemicals including animal and vegetable oils and fats in the three areas are noted this month

     The index of chemicals including animal and vegetable oils and fats in Luzon went down by 0.02 percent in September 2019 as coconut oil was priced lower during the month. In Visayas, prices of fertilizers, selected medicinal and pharmaceutical preparations, were also lower this month. Hence, the group’s index in the area dropped by 0.1 percent. On the contrary, the group’s index in Mindanao picked up by 0.4 percent due to higher prices of coconut oil, selected medicinal and pharmaceuticals preparations, baby oil, lotion and shampoo. The group’s index at the national level sank by 0.004 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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