LATEST RELEASE

 

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

Reference Number: 2018-137
Release Date: May 18, 2018

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

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

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 March 5.4 5.2 5.9 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 3.4 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

                                                
 

 

 

 

 

• Year-on-Year
    

     The year-on-year change of the General Wholesale Price Index (GWPI) at the national level went up by 5.4 percent in March 2018. In the previous month, its annual rate was pegged at 4.9 percent and in March 2017, 6.0 percent. Higher annual increases were noted in the indices of mineral fuels, lubricants and related materials at 22.7 percent; manufactured goods classified chiefly by materials, 2.5 percent; and machinery and transport equipment, 1.1 percent. On the other hand, slower annual gains were registered in the indices of beverages and tobacco at 15.3 percent and chemicals including animal and vegetable oils and fats, 0.4 percent. The index of crude materials inedible except fuels continued to register a negative annual rate at -14.9 percent. The rest of the commodity groups retained their previous month’s rate (see Table 1.1).

     > The annual rate of the GWPI in Luzon picked-up by 5.2 percent in March 2018. In February 2018, the annual growth was registered at 4.7 percent while in March 2017, 6.5 percent. Annual add-ons were higher in the indices of the following commodity groups:

  • Food (0.2%);
  • Mineral Fuels, Lubricants and Related Materials (23.3%);
  • Manufactured Goods Classified Chiefly by Materials (2.7%);
  • Machinery and Transport Equipment (0.8%); and
  • Miscellaneous Manufactured Articles (0.9%).

Meanwhile, the annual change of crude materials, inedible except fuels index fell by 15.8 percent and chemicals including animal and vegetable oils and fats, -0.1 percent. The index of beverages and tobacco retained its previous month’s rate of 11.5 percent (see Table 2.1).

     > In Visayas, the annual growth of the GWPI rose by 5.9 percent in March 2018. It was pegged at 5.5 percent in February 2018 and 4.6 percent in March 2017. Higher annual upticks were posted in the indices of beverages and tobacco at 31.5 percent; mineral fuels, lubricants and related materials, 22.5 percent; and manufactured goods classified chiefly by materials, 0.5 percent. Meanwhile, the annual gains in the indices of food were slower at 3.1 percent; chemicals including animal and vegetable oils and fats, 2.4 percent; and machinery and transport equipment, 1.9 percent. Annual decrease was still noted in the index of crude materials, inedible except fuels at -11.8 percent. That for miscellaneous manufactured articles index retained its previous month’s growth of 0.3 percent (see Table 3.1).

     > The annual increment of GWPI in Mindanao was higher at 6.4 percent in March 2018. In the previous month, its annual growth was posted at 6.0 percent and in March 2017, 2.9 percent. Annual mark-ups were higher in the indices of food at 7.1 percent and mineral fuels, lubricants and related materials, 10.4 percent. On the other hand, the annual mark-ups in the indices of the following commodity groups decelerated during the month:

  • Beverages and Tobacco (28.4%);
  • Chemicals Including Animal and Vegetable Oils and Fats (2.1%);
  • Manufactured Goods Classified Chiefly by Materials (2.8%); and
  • Machinery and Transport Equipment (2.1%).

However, the index of crude materials, inedible except fuels still exhibited a negative annual rate at -1.4 percent. That for miscellaneous articles index retained its previous month’s rate of 1.5 percent (see Table 4.1).

• By Commodity Group, Month-on-Month
  
     Measured from a month ago level, the GWPI in the Philippines decreased by 0.3 percent in March 2018. In February 2018, its rate was noted at 0.7 percent. Declines were registered in the indices of food at -0.7 percent and crude materials, inedible except fuels, -5.0 percent. Moreover, a 0.1 percent add-on recorded in the indices of beverages and tobacco, minerals fuels, lubricants and related materials; and manufactured goods classified chiefly by materials was slower compared from their previous month’s growths. The increase in the index of chemicals including animal and vegetable oils and fats, likewise eased to 0.4 percent. Movement in the index of machinery and transport equipment remained at 0.1 percent while that of miscellaneous manufactured articles index registered zero growth during the month (see Table 1.2).

  • The food index in Luzon declined by 0.8 percent in March 2018 as prices of liveweight chicken, eggs, uncanned meat products, rice, fruits, vegetables, sugar and desiccated were lower during the month. In Visayas, prices of eggs, milk, fish, vegetables and desiccated coconut went down during the month. Thus, the food index in the area dropped by 1.6 percent. In Mindano, the group’s index in the area however, rose by 0.2 percent due to upward price adjustments noted in liveweight hogs, eggs, beef, fish, rice, selected bakery products, fresh fruits, sugar, starch and table salt. The food index for the Philippines fell by 0.7 percent.
     
  • The index of crude materials, inedible except fuels in Luzon decreased by 5.8 percent brought about by the price cut in copra. Decline in the price of adobe blocks stone also pushed down its group’s index in Mindanao by 0.4 percent. Meanwhile, the group’s index in Visayas had zero growth. At the country level, the group’s index dropped by 5.0 percent.
     
  • Upward price adjustments in liquors, beer and selected softdrinks during the month effected the 0.8 percent growth in beverages and tobacco index in Visayas. In Mindanao, prices of liquors were also higher this month. Hence, the group’s index in the area inched up by 0.1 percent. The group’s index in Luzon, however, had zero growth during the period. The national index exhibited a 0.1 percent growth during the month.
     
  • Price hikes in petroleum products such as gasoline, diesel oil and kerosene pushed up the index of mineral fuels, lubricants and related materials in Visayas by 2.9 percent. The group’s index in Mindanao likewise, went up by 0.2 percent due to increments in the prices of gasoline. On the other hand, lower prices of diesel oil, kerosene, bunker fuel oil and crude petroleum oil in Luzon resulted to a 0.1 percent decrease in its group’s index. For the Philippines, the group’s index moved upward by 0.1 percent.
     
  • The index of machinery and transport equipment in Luzon gained by 0.1 percent as selected electrical apparatus and appliances were priced higher during the period. On the other hand, decreases in the prices of selected electrical apparatus and appliances in Mindanao pushed down its group’s index by 0.2 percent. 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 manufactured goods classified chiefly by materials in Luzon went up by 0.1 percent due to higher prices of tires, wood products, pad paper, cement, steel bars and fabricated wire products. Meanwhile, higher prices in plywood, selected glass products, glazed tile and G.I. sheets in Visayas raised its group’s index by 0.5 percent. In Mindanao, the group’s index however, had zero growth during the month. At the national level, the group’s index inched up by 0.1 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon advanced by 0.3 percent. This was due to higher prices in selected medical and pharmaceutical preparations in the area. Upticks in the prices of fertilizers, paints and medical and pharmaceutical preparations in Visayas pushed up its group’s index by 0.4 percent. In Mindanao, the group’s index increased by 0.3 percent due to higher prices in fertilizers and medical and pharmaceutical preparations. At the national level, the group’s index advanced by 0.4 percent.
     
  • A 0.1 percent growth recorded in miscellaneous manufactured articles index in Luzon was mainly effected by higher prices in magazines, matches and candles. Similarly, the group’s index in Visayas picked-up by 0.1 percent brought about by the increments in the prices of sanitary fixtures and matches. In Mindanao, the index had zero growth. At the national level, the group’s index exhibited zero growth during the month (see Tables 1.2, 2.2, and 3.2).

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