Table A. Year-on-Year Growth Rates of the GWPI by Area, All Items
in Percent
(2012=100)

Figure 1. Annual Growth Rates of the GWPI by Area, All Items
November 2023 - November 2024
(2012=100)

1. GWPI in the Philippines recorded higher annual increase in November 2024

The year-on-year growth rate of GWPI at the national level went up to 2.3 percent in November 2024 from 2.1 percent in October 2024. Its annual growth rate in November 2023 was recorded at 4.2 percent. (Tables A, 1a, and 1c)

The faster annual increase of GWPI in the country was primarily brought by the slower annual decline in the index of mineral fuels, lubricants and related materials at 3.5 percent in November 2024 from 7.7 percent year-on-year drop in October 2024.

In addition, faster annual increases were observed in the indices of crude materials, inedible except fuels at 33.1 percent in November 2024 from 29.8 percent in the previous month, and chemicals including animal and vegetable oils and fats at 6.6 percent during the month from 6.1 percent in October 2024.

On the contrary, slower annual increments were observed in the indices of food at 2.7 percent in November 2024 from 3.1 percent in the previous month, and miscellaneous manufactured articles at 0.2 percent during the month from 0.3 percent in October 2024.

The indices for the rest of the commodity groups retained their respective October 2024 annual growth rates during the month. (Table 1a)

2. GWPI in Luzon increased at a faster rate during the month

Similar with the trend at the national level, the year-on-year growth rate of GWPI in Luzon increased to 2.4 percent in November 2024 from an annual increase of 2.3 percent in October 2024. In November 2023, the annual rate of GWPI in Luzon was higher at 4.1 percent. (Tables A, 2a, and 2c)

The uptrend in the annual rate of GWPI in Luzon was primarily caused by the slower annual drop in mineral fuels, lubricants and related materials index at 3.6 percent in November 2024 from 7.9 percent annual decline in the previous month.

In addition, faster annual increments were posted in the indices of crude materials, inedible except fuels at 37.5 percent during the month from 34.0 percent in October 2024, and chemicals including animal and vegetable oils and fats at 7.1 percent in November 2024 from 6.7 percent in the previous month.

On the other hand, slower annual increases were observed in the indices of food at 2.8 percent during the month from 3.1 percent in October 2024, and miscellaneous manufactured articles at 0.1 percent in November 2024 from 0.2 percent in the previous month.

The indices for the rest of the commodity groups retained their respective October 2024 annual increases during the month. (Table 2a)

3. Lower annual growth rate was observed in the GWPI in Visayas

The annual growth rate of GWPI in Visayas eased to 2.0 percent in November 2024 from 2.1 percent in October 2024. Its annual rate in November 2023 was noted at 5.2 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 4.1 percent in November 2024 from 4.6 percent in the previous month.

Likewise, slower annual increases were observed in the indices of beverages and tobacco at 4.4 percent in November 2024 from 4.5 percent in the previous month, and manufactured goods classified chiefly by materials at 2.3 percent during the month from 2.4 percent in October 2024.

A zero percent annual rate was recorded in the index of miscellaneous manufactured articles in November 2024 from 0.1 percent annual increase in the previous month. Furthermore, faster annual decline was registered in the index of machinery and transport equipment at 2.3 percent during the month from 2.2 percent annual drop in October 2024.

On the other hand, higher annual increment was recorded in the index of chemicals including animal and vegetable oils and fats at 1.6 percent in November 2024 from 0.3 percent in the previous month. Moreover, the index of mineral fuels, lubricants and related materials recorded a slower annual decline of 5.3 percent in November 2024 from 10.0 percent annual drop in October 2024.

The index of crude  materials, inedible except fuels retained its October 2024 annual increase of 0.1 percent during the month. (Table 3a)

4. Annual increase of GWPI in Mindanao slowed down in November 2024

The annual rate of GWPI in Mindanao decelerated to 0.7 percent in November 2024 from 1.2 percent in October 2024. Its annual growth rate in November 2023 was higher at 3.6 percent. (Tables A, 4a, and 4c)

The slowdown in the annual growth rate of GWPI in Mindanao was primarily brought about by the annual drop of food index at 0.4 percent in November 2024 from 0.9 percent annual increase in the previous month.

Likewise, higher annual decline was observed in the index of mineral fuels, lubricants and related materials at 0.5 percent in November 2024 from 0.4 percent annual drop in the previous month.

On the other hand, faster annual increments were registered in the indices of the following commodity groups during the month:

          a. Beverages and tobacco, 4.9 percent from 4.8 percent;
          b. Crude materials, inedible except fuels, 0.3 percent from 0.2 percent; 
          c. Manufactured goods classified chiefly by materials, 1.1 percent from 1.0 percent; and
          d. Machinery and transport equipment, 0.5 percent from 0.4 percent.

The indices of chemicals including animal and vegetable oils and fats, and miscellaneous manufactured articles retained their corresponding October 2024 annual increases of 2.9 percent and 1.1 percent during the month. (Table 4a)

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