General Wholesale Price Index (GWPI) (2012=100): March 2025
Table A. Year-on-Year Growth Rates of the GWPI by Area, All Items
in Percent
(2012=100)
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|---|---|---|---|---|
| Philippines | 4.4 | 1.9 | 2.0 | 2.5 |
| Luzon | 4.6 | 1.8 | 2.0 | 2.4 |
| Visayas | 4.6 | 3.1 | 2.4 | 4.9 |
| Mindanao | 3.2 | 2.4 | 1.6 | 2.0 |
| *Year-on-year change of average GWPI for January to September 2024 vs. 2023 Source: Philippine Statistics Authority, Wholesale Price Survey of Selected Commodities for the Generation of GWPI | ||||
Figure 1. Annual Growth Rates of the GWPI by Area, All Items
September 2023 - September 2024
(2012=100)
1. GWPI in the Philippines recorded higher annual increase in September 2024
The year-on-year growth rate of GWPI at the national level went up to 2.0 percent in September 2024 from 1.9 percent in August 2024. Its annual growth rate in September 2023 was recorded at 4.4 percent. (Tables A, 1a, and 1c)
The faster annual increase of GWPI in the country was primarily brought by the higher annual increase in the index of chemicals including animal and vegetable oils and fats at 5.7 percent in September 2024 from 4.1 percent in August 2024.
In addition, faster annual increases were observed in the indices of crude materials, inedible except fuels at 24.2 percent in September 2024 from 17.3 percent in August 2024, manufactured goods classified chiefly by materials at 1.2 percent in September 2024 from 0.8 percent in the previous month, and machinery and transport equipment at 0.8 percent in the current month from 0.4 percent in August 2024.
Moreover, an annual increment of 0.3 percent was registered in the index of miscellaneous manufactured articles in September 2024 from an annual decline of 0.2 percent in the previous month.
On the contrary, slower annual increment was observed in the index of beverages and tobacco at 1.2 percent in September 2024 from 1.4 percent in August 2024. In addition, faster annual decrease was registered in the index of mineral fuels, lubricants and related materials at 9.4 percent in September 2024 from a 3.6 percent annual drop in the previous month.
The index of food retained its August 2024 annual rate of 3.0 percent during the month. (Table 1a)
2. GWPI in Luzon increased at a faster rate during the month
Similar to the trend at the national level, the year-on-year growth rate of GWPI in Luzon increased to 2.0 percent in September 2024 from an annual increase of 1.8 percent in August 2024. In September 2023, the annual rate of GWPI in Luzon was higher at 4.6 percent. (Tables A, 2a, and 2c)
The uptrend in the annual rate of GWPI in Luzon was primarily caused by the higher annual increase in chemicals including animal and vegetable oils and fats index at 6.1 percent in September 2024 from 4.5 percent annual increment in the previous month.
In addition, faster annual increments were posted in the indices of the following commodity groups during the month:
a. Food, 2.8 percent from 2.6 percent;
b. Crude materials, inedible except fuels, 27.6 percent from 19.6 percent;
c. Manufactured goods classified chiefly by materials, 1.1 percent from 0.8 percent; and
d. Machinery and transport equipment, 1.0 percent from 0.7 percent.
Moreover, an annual increment of 0.2 percent was registered in the index of miscellaneous manufactured articles in September 2024 from an annual decline of 0.2 percent in the previous month.
On the other hand, slower annual increase was observed in the index of beverages and tobacco at 0.8 percent in September 2024 from 0.9 percent in August 2024. In addition, faster annual decrease was registered in the index of mineral fuels, lubricants and related materials at 9.6 percent in September 2024 from a 3.7 percent annual drop in August 2024. (Table 2a)
3. Lower annual growth rate was observed in the GWPI in Visayas
The annual growth rate of GWPI in Visayas eased to 2.4 percent in September 2024 from 3.1 percent in August 2024. Its annual rate in September 2023 was noted at 4.6 percent. (Tables A, 3a, and 3c)
The lower annual growth rate of GWPI in Visayas was primarily brought about by the slower annual increase of food index at 5.9 percent in September 2024 from 7.1 percent in the previous month.
In addition, slower annual increases were observed in the indices of beverages and tobacco at 3.4 percent during the month from 3.5 percent in August 2024, and chemicals including animal and vegetable oils and fats at 0.3 percent in September 2024 from 0.6 percent in the previous month. Faster annual decrease was registered in the index of mineral fuels, lubricants and related materials at 11.3 percent in September 2024 from 6.1 percent annual drop in August 2024.
Meanwhile, higher annual increment was recorded in the index of manufactured goods classified chiefly by materials at 2.2 percent in September 2024 from 1.7 percent in August 2024. Moreover, the index of crude materials, inedible except fuels recorded an annual increase of 0.1 percent in September 2024 from zero percent annual rate in August 2024.
An annual decline of 2.2 percent was still observed in the index of machinery and transport equipment in September 2024. Similarly, the index of the miscellaneous manufactured articles retained its August 2024 annual increase at 0.1 percent during the month. (Table 3a)
4. GWPI in Mindanao slowed down in September 2024
The annual rate of GWPI in Mindanao eased to 1.6 percent in September 2024 from 2.4 percent in August 2024. Its annual growth rate in September 2023 was higher at 3.2 percent. (Tables A, 4a, and 4c)
The slowdown in the annual growth rate of GWPI in Mindanao was primarily brought about by the slower annual increment of food index at 2.1 percent in September 2024 from 4.2 percent in the previous month.
Likewise, slower annual increase was observed in the index of beverages and tobacco at 5.0 percent in September 2024 from 5.7 percent in the previous month. Moreover, an annual drop of 1.0 percent was registered in the index of mineral fuels, lubricants and related materials in September 2024 from an annual increase of 2.0 percent in August 2024.
On the other hand, faster year-on-year annual increases were registered in the indices of chemicals including animal and vegetable oils and fats at 2.9 percent in September 2024 from 2.4 percent in August 2024, manufactured goods classified chiefly by materials at 0.9 percent in September 2024 from 0.1 percent in the previous month, and miscellaneous manufactured articles at 0.8 percent in the current month from 0.3 percent in August 2024. A zero percent annual rate was registered in the index of crude materials, inedible except fuels during the month from 0.1 percent annual drop in the previous month.
The index of machinery and transport equipment retained its August 2024 annual increase at 0.1 percent during the month. (Table 4a)
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