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

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

• Year-on-Year
 

1. General Wholesale Price Index (GWPI) at the national level slows down

The annual increase of GWPI at the national level decelerated to 8.9 percent in August 2018. In the previous month, the annual rate was registered at 9.0 percent and in August 2017, 3.8 percent.

Except for crude materials, inedible except fuels, the indices for all commodity groups registered positive annual growth. In addition, annual gain noted in the index of mineral fuels, lubricants and related materials was slower at 34.8 percent in August 2018 relative to its annual rate in July 2018. Meanwhile, compared with their annual rates in July 2018, annual increments were higher in the indices of the following commodity groups:

• Food, (5.3%);

• Beverages and Tobacco, (14.5%);

• Chemicals Including Animal and Vegetable Oils and Fats, (0.5%); and

• Machinery and Transport Equipment,(1.3%).

Annual hikes in the indices of manufactured goods classified chiefly by materials remained at 2.9 percent and miscellaneous manufactured articles at 1.4 percent (see Table 1.1).

2. GWPI in Luzon slowly picks up

The annual hike of GWPI in Luzon likewise, eased to 9.2 percent in August 2018. Its annual rate was recorded at 9.3 percent in July 2018 and 4.1 percent in August 2017. Annual rates were registered in the indices of crude materials, inedible except fuels at -20.9 percent and chemicals including animal and vegetable oils and fats, -0.7 percent. Moreover, annual adjustment recorded in the index of mineral fuels, lubricants and related materials slowed down to 36.0 percent compared with its annual rate of 42.7 percent in July 2018. Meanwhile, higher annual mark-ups were posted in the indices of food at 4.7 percent; beverages and tobacco, 11.9 percent; and machinery and transport equipment, 1.2 percent. Annual movements in the indices of manufactured goods classified chiefly by materials remained at 2.9 percent and miscellaneous manufactured articles at 1.4 percent (see Table 2.1).

3. GWPI in Visayas accelerates in August 2018

The annual increment of GWPI in Visayas was higher at 8.3 percent in August 2018. In the previous month, its annual growth was posted at 6.8 percent and in August 2017, 3.3 percent. A faster annual uptick of 7.7 percent was noted in the heavily-weighted food index. Meanwhile, annual increases were slower in the indices of beverages and tobacco at 19.0 percent; mineral fuels, lubricants and related materials, 28.3 percent; and machinery and transport equipment, 0.4 percent. Annual movement in the index of crude materials, inedible except fuels was still on the downtrend as its annual rate decreased by 10.2 percent. Annual changes in the indices for the rest of the commodity groups remained at their previous month’s rates (see Table 3.1).

4. GWPI in Mindanao continues to move at a slower rate

The annual increase of GWPI in Mindanao slid to 7.5 percent in August 2018. In the previous month, its annual rate was posted at 7.8 percent and in August 2017, 1.9 percent. An annual drop of 1.8 percent was registered in the index of crude materials, inedible except fuels. Compared with their annual rates in the previous month, slower annual increases were observed in the indices in the following commodity groups:

• Beverages and Tobacco, (28.0%);

• Mineral Fuels, Lubricants and Related Materials, (20.2%);

• Chemicals Including Animal and Vegetable Oils and Fats (3.1%);

• Manufactured Goods Classified Chiefly by Materials, (3.9%); and

• Machinery and Transport Equipment, (2.2%).

On the contrary, the annual gain in the index of miscellaneous manufactured articles was higher at 2.0 percent while the index of food retained its previous month’s rate of 7.1 percent (see Table 4.1).
 

• Month-on-Month

1. GWPI at the country level rises in August 2018

On a monthly basis, GWPI at the national level increased by 0.7 percent in August 2018. In July 2018, its monthly change was pegged at 0.1 percent. Compared with their monthly rates in the previous month, higher increases were noted in the indices of the following commodity groups:

• Food, (1.7%);

• Beverages and Tobacco, (1.0%);

• Mineral Fuels, Lubricants and Related Materials, (0.1%);

• Machinery and Transport Equipment (0.2%); and

• Miscellaneous Manufactured Articles, (0.008%).

Upticks in the indices of crude materials, inedible except fuels, however, eased to 1.3 percent and miscellaneous manufactured articles, 0.008 percent. Moreover, the index of chemicals including animal and vegetable oils and fats dropped by 0.008 percent while that for manufactured goods classified chiefly by materials retained its previous month’s rate of 0.1 percent.

2. Wholesale prices for food items generally move upward during the month

Food index in Luzon picked up by 1.6 percent in August 2018 as eggs, selected dairy products, pandesal, fruits, vegetables, processed animal feeds and cocoa products were priced higher during the period. In Visayas, prices of eggs, milk, fish, sugar, unprocessed animal feeds and cocoa products went up during the month. Thus, the food index in the area rose by 4.7 percent. Similarly, the group’s index in Mindanao gained by 0.4 percent. This was brought about by the increments in the prices of meat products, milk, canned fish, selected cereal preparations, loaf bread, vegetables, cocoa products, desiccated coconut and starch. At the national level, the group’s index moved upward by 1.7 percent.

3. Higher prices of beverages push up beverages and tobacco index in the four areas

The index of beverages and tobacco in Luzon went up by 1.2 percent; Visayas, 0.4 percent; and Mindanao, 0.03 percent. This was affected by the upward movements in the prices of liquors and softdrinks during the month. For the Philippines, the group’s index climbed by 1.0 percent.

4. Crude materials, inedible except fuels index generally climbs during the period

Higher prices of copra, abaca fiber, gravel and pebbles pushed up the index of crude materials, inedible except fuels in Luzon by 1.6 percent. In Mindanao, prices of sand, gravel and pebbles were higher during the period. Thus, its group’s index in the area increased by 0.034 percent. Meanwhile, a decrease in the price of copra pushed down the group’s index in Visayas by 0.3 percent. At the country level, the group’s index moved up by 1.3 percent.

5. Slight increments are noted in machinery and transport equipment indices for Luzon and Visayas

The index for machinery and transport equipment in Luzon inched up by 0.2 percent as selected electrical apparatus and air conditioning machine were priced higher during the period. Similarly, the group’s index in Visayas inched up by 0.037 percent. This was brought about by the uptick in the price of electrical bulb in the area. Meanwhile, the group’s index in Mindanao had zero growth. For the Philippines, the group’s index rose by 0.2 percent.

6. Manufactured goods classified chiefly by materials index registered a minimal increase

The index of manufactured goods classified chiefly by materials in Luzon went up by 0.1 percent due to the increments in the prices of inner tube, lumber, selected paper products, hollow blocks, G.I. sheets and selected fabricated wire products. Meanwhile, increases in the prices of glass products and selected fabricated wire products in Mindanao resulted to a minimal growth (0.049%) in its group’s index. The group’s index in Visayas, however, had zero growth during the month. The group’s index at the country level recorded an increase of 0.1 percent.

7. Wholesale prices of petroleum products generally climb during the month

The index for mineral fuels, lubricants and related materials in Luzon inched up by 0.01 percent; Visayas, 0.2 percent; and in Mindanao, 1.4 percent. This was due to the price hikes in gasoline, diesel oil and LPG. At the national level, the group’s index went up by 0.1 percent.

8. A minimal growth was posted in miscellaneous manufactured articles index

A 0.1 percent uptick in miscellaneous manufactured articles index in Mindanao can be attributed to higher prices in selected printed matters and matches. In Luzon and Visayas, the index had zero growth. At the national level, the group’s index rose by 0.008 percent.

9. The index of chemicals including animal and vegetable oils and fats generally move downward

The index of chemicals including animal and vegetable oils and fats in Visayas fell by 0.003 percent brought about by lower prices of selected medical and pharmaceutical preparations during the month. Similarly, the group’s index in Mindanao went down by 0.1 percent due to the decreases in the prices of selected cleaning compounds and cosmetic and toilet preparations. The group’s index in Luzon, however, had zero growth during the period. At the national level, the group’s index declined by 0.008 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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