LATEST RELEASE

 

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

Reference Number: 2018-110
Release Date: April 17, 2018

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

Year-on-Year Changes in Percent, All Items (February 2017 - February 2018)

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 February 5.0p 4.8p 5.5 6.0
 January 4.8 4.8 5.6 5.2
 2017 4.4 4.6 4.3 2.7
  December 3.4 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
  August 3.8 4.1 3.3 1.9
  July 2.7 2.9 2.3 1.5
  June 1.6 1.5 3.7 0.8
  May 3.4 3.6 4.7 0.1
 April 5.1 5.6 5.0 1.3
 March 6.0 6.5 4.6 2.9
 February 7.5 8.1 5.8 3.4

                                                 p - preliminary
 

 

 

 

 

• Year-on-Year
    

     The year-on-year change of the General Wholesale Price Index (GWPI) at the national level picked up by 5.0 percent in February 2018. In the previous month, its annual growth was recorded at 4.8 percent and in February 2017, 7.5 percent. Higher annual increments were noted in the indices of the following commodity groups:

  • Food (1.3%);
  • Beverages and Tobacco (15.6%);
  • Chemicals Including Animal and Vegetable oils and Fats (0.6%);
  • Manufactured Goods Classified Chiefly by Materials (2.4%); and
  • Miscellaneous Manufactured Articles (0.9%).

A lower annual increase of 1.0 percent was, however, registered in the index of machinery and transport equipment. In addition, the index of crude materials inedible except fuels continued to register a negative annual rate at -13.3 percent while that of mineral fuels, lubricants and related materials index retain edits previous month’s rate of 20.1 percent (see Table 1.1).

     > On an annual basis, the GWPI in Luzon rose by 4.8 percent in February 2018. This was the same rate in January 2018 while in February 2017, its annual growth was registered at 8.1 percent. Annual mark-ups in the indices of manufactured goods classified chiefly by materials were higher at 2.6 percent; machinery and transport equipment, 0.7 percent; and miscellaneous manufactured articles, 0.8 percent. Moreover, the food index went up by 0.1 percent from -0.2 percent. On the other hand, annual increases observed in the indices of beverages and tobacco decelerated to 11.5 percent and mineral fuels, lubricants and related materials, 21.1 percent. Meanwhile, the annual change of crude materials, inedible except fuels index fell by 13.4 percent while the index of chemicals including animal and vegetable oils and fats had zero growth during the month (see Table 2.1).

     > The year-on-year increment of GWPI in Visayas was slower at 5.5 percent in February 2018. In the previous month, its annual change was recorded at 5.6 percent and in February 2017, 5.8 percent. The slowdown was primarily due to the 17.1 percent decline in crude materials, inedible except fuels index. Moreover, annual gains noted in the indices of the following commodity groups were slower during the month:

  • Mineral Fuels, Lubricants and Related Materials (14.7%);
  • Chemicals Including Animal and Vegetable Oils and Fats (3.0%);
  • Manufactured Goods Classified Chiefly by Materials (0.1%);
  • Machinery and Transport Equipment (2.4%); and
  • Miscellaneous Manufactured Articles (0.3%).

On the other hand, a higher annual increment of 30.8 percent was posted in beverages and tobacco index (see Table 3.1).

     > The annual hike of GWPI in Mindanao was higher at 6.0 percent in February 2018. In the previous month, its annual growth was posted at 5.2 percent and in February 2017, 3.4 percent. Faster annual mark-ups were noted in the indices of all the commodity groups except for the index of crude materials, inedible except fuels which recorded an annual decrease of 0.4 percent (see Table 4.1).

• By Commodity Group, Month-on-Month
  
     On a monthly basis, the growth of GWPI at the national level eased to 0.8 percent in February 2018. In January 2018, the rate of GWPI was posted at 1.9 percent. The index of crude materials, inedible except fuels dropped by 7.3 percent. Moreover, upticks in the indices of mineral fuels, lubricants and related materials slowed down to 1.2 percent; manufactured good classified chiefly by materials, 0.8 percent; and miscellaneous manufactured articles, 0.2 percent. On the other hand, the index of beverages and tobacco moved up at a faster rate at 4.7 percent and chemicals including animal and vegetable oils and fats index, 0.9 percent. From a zero growth in the previous month, the index of machinery and transport equipment inched up by 0.1 percent.The food index likewise advanced by 0.9 percent from -0.3 percent (see Table 1.2).

  • The food index in Luzon picked up by 1.1 percent in February 2018 as live weight chicken, beef, milk, selected processed fish, rice, selected cereal preparations, fruits, canned and preserved fruits and vegetables, copra meal, processed animal feeds and desiccated coconut were priced higher during the period. In Mindanao, prices of selected uncanned meat products, milk, cheese, rice, selected cereal preparations, fruits, canned and preserved fruits and vegetables, sugar instant coffee, margarine, cube ice and starch went up during the month. Thus, the food index in the area rose by 0.6 percent. In Visayas, upward adjustments in the prices of selected dairy products, processed fish, rice, selected cereal products, bakery products, vegetables, canned and preserved fruits and vegetables, coffee, margarine, desiccated coconut and starch were offset by the reductions in the prices of beef, pork, fish, fresh fruits and sugar in the area. Hence, its group’s index had zero growth during the month.The food index at the country level increased by 0.9 percent.
     
  • The beverages and tobacco index in Luzon accelerated by 3.9 percent; Visayas, 12.8 percent; and Mindanao,3.4 percent. This was effected by the upticks in the prices of liquors, beer, softdrinks and cigarettes during the month. For the Philippines, the group’s index climbed by 4.7 percent.
     
  • The index of manufactured goods classified chiefly by materials in Luzon went up by 0.9 percent due to higher prices of lumber, selected paper products, cement, hollow blocks, glazed tiles, G.I. sheets, steel casement and selected fabricated wire products during the month. Meanwhile, increases in the prices of tires, plywood, paper products, fishnet, cement, hollow blocks, steel bars, G.I. sheets, G.I. pipe and machine bolts in Mindanao resulted to a 1.0 percent gain in its group’s index. In Visayas, the group’s index however, had zero growth during the month. At the national level, the group’s index rose by 0.8 percent.
     
  • Price hikes in petroleum products such as gasoline, diesel oil, kerosene, bunker fuel oil and lubricating oil pushed up the index of mineral fuels, lubricants and related materials in Luzon by 1.2 percent. The group’s index in Visayas likewise, went up by 1.2 percent due to increments in the prices of gasoline, kerosene and lubricating oil. In Mindanao, the group’s index picked up by 1.3 percent as gasoline and diesel oil were priced higher in the area. For the Philippines, the group’s index moved upward by 1.2 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon advanced by 1.1 percent. Prices of industrial alcohol, paints, plastic sheet, selected medical and pharmaceutical preparations were higher in Luzon. Upticks in the prices of fertilizers, paints, some medical and pharmaceutical preparations and laundry soap in Mindanao raised the index of chemicals including animal and vegetable oils and fats in the area by 0.6 percent. The group’s index in Visayas, however, had zero growth during the month. For the Philippines, the group’s index advanced by 0.9 percent.
     
  • A 0.2 percent growth recorded in miscellaneous manufactured articles index in Luzon was due to higher prices of matches, toothbrush and selected miscellaneous manufactured articles. The group’s index in Mindanao likewise, went up by 0.7 percent brought about by the increments in the prices of selected clothing and footwear items, office and school supplies, candles, matches and toothbrush.In Visayas, the index however, had zero growth. At the national level, the group’s index went up by 0.2 percent.
     
  • The machinery and transport equipment index in Luzon inched up by 0.1 percent as selected electrical apparatus and appliances were priced higher during the period. Similarly, the group’s index in Mindanao picked up by 0.2 percent. This was brought about by the upward adjustments in the prices of selected electrical appliances, electric bulb and air conditioning machine in the area. Meanwhile, the group’s index in Visayas had zero growth. For the Philippines, the group’s index rose by 0.1 percent.
     
  • The index of crude materials, inedible except fuels in Luzon decreased by 7.6 percent brought about by lower prices of copra and abaca fiber. Decline in the price of copra also pushed down its group’s index in Visayas by 6.7 percent. Similarly, the group’s index in Mindanao fell by 2.5 percent due to price cut in firewood. At the country level, the group’s index dropped by 7.3 percent (see Tables 1.2, 2.2, and 3.2).

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