Year-on-Year Growth Rates, All Items
January 2012 - January 2013

Year-on-Year

The country’s annual change in the General Wholesale Price Index (GWPI) continued to drop as it recorded a negative rate of 0.4 percent in January from -0.5 percent in December. Annual declines were still posted in the index of crude materials, inedible except fuels at -26.6 percent in January from -27.9 percent in December; mineral fuels, lubricants and related materials index, -3.7 percent from -3.0 percent; and chemicals including animal and vegetable oils and fats index, -3.6 percent from -3.5 percent. In addition, the annual uptick in the heavily-weighted food index was slower at 1.6 percent from 2.2 percent; machinery and transport equipment index, 2.2 percent from 2.5 percent; and miscellaneous manufactured articles index, 0.8 percent from 1.2 percent. On the other hand, a double-digit annual increment was observed in beverages and tobacco index at 15.6 percent from 1.5 percent. The annual growth in the manufactured goods classified chiefly by materials index also inched up 1.1 percent from 1.0 percent.

• In Luzon, the annual movement of the GWPI further dropped by 1.2 percent in January from -0.9 percent in December. Annual decreases were registered in the indices of the following commodity groups: crude materials, inedible except fuels, -29.7 percent in January from -31.3 percent in December; mineral fuels, lubricants and related materials, -4.4 percent from -3.3 percent; and chemicals including animal and vegetable oils and fats, -5.0 percent from -4.8 percent. On the contrary, annual hikes were noted in the food index (1.4% from 2.3%); manufactured goods classified chiefly by materials index (0.5% from 0.6%); machinery and transport equipment index (2.7% from 3.1%); and miscellaneous manufactured articles index (0.7% from 1.2%). A higher annual growth was however seen in beverages and tobacco index at 12.4 percent from 1.1 percent.

   

• Compared to a year ago level, the GWPI in Visayas went up 1.7 percent in January from 0.4 percent in December. This was due to the double-digit annual growth in the beverages and tobacco index at 26.2 percent from 2.6 percent. Likewise, annual change in mineral fuels, lubricants and related materials index grew by 2.0 percent from -1.7 percent; chemicals including animal and vegetable oils and fats index, 0.4 percent from -0.1 percent; manufactured goods classified chiefly by materials index, 0.2 percent from -0.2 percent; and miscellaneous manufactured articles index, 0.3 percent from 0.2 percent. Meanwhile, the crude materials, inedible except fuels index in the area was still on the downtrend as it posted a negative monthly rate of 4.0 percent from -2.3 percent. The annual gain in the food index eased to 0.8 percent from 1.8 percent while that for machinery and transport equipment index remained at 0.1 percent.

   

• The GWPI in Mindanao moved at a faster rate of 3.9 percent in January from 2.2 percent in December. A double-digit annual growth of 28.8 percent was recorded in beverages and tobacco index in January from 3.5 percent in December. Likewise, the annual adjustment in the food index advanced 3.3 percent from 1.7 percent; crude materials, inedible except fuels index, 1.0 percent from zero growth; manufactured goods classified chiefly by materials index, 5.5 percent from 5.0 percent; machinery and transport equipment index, 1.0 percent from 0.4 percent; and miscellaneous manufactured articles index, 1.6 percent from 1.3 percent. Meanwhile, slowdowns in the annual hikes were correspondingly seen in the indices of mineral fuels, lubricants and related materials and chemicals including animal and vegetable oils and fats at 0.8 percent and 2.9 percent from 1.5 percent and 3.2 percent, respectively.
   

• By Commodity Group, Month-on-Month

  On a monthly basis, wholesale prices of commodities at the national level rose 0.7 percent in January from -0.1 percent in December. This was effected by the acceleration in the index for beverages and tobacco at 14.6 percent in January from zero growth; crude materials, inedible except fuels index, 2.4 percent from -0.5 percent; mineral fuels, lubricants and related materials index, 0.3 percent from -0.8 percent; and chemicals including animal and vegetable oils and fats index, 0.6 percent from -0.1 percent. However, the indices for miscellaneous manufactured articles dropped by 0.1 percent. The monthly movement in the food index remained at its last month’s rate of 0.2 percent while those for manufactured goods classified chiefly by materials and machinery and transport equipment indices were zero.
   

   

  From zero growth, upward price adjustments in liquors and cigarettes pushed up the beverages and tobacco index in Luzon by 12.1 percent; Visayas, 23.0 percent; Mindanao, 25.3 percent; and Philippines, 14.6 percent.

  The crude materials, inedible except fuels index in Luzon jumped by 2.8 percent from -0.1 percent as higher prices of copra were noticed during the month. On the contrary, prices of copra in Visayas were still on the downtrend. Thus, the group’s index in the area dropped by 1.9 percent. In Mindanao, prices of crude materials, inedible except fuels generally remained stable during the month. These mixed price trends resulted to a 2.4 percent growth in the group’s national index.
   

  The chemicals including animal and vegetable oils and fats index in the Philippines and in Luzon rose 0.6 percent. It resulted from the increments in the prices of coconut oil and selected fertilizers and pharmaceutical products. In Visayas, the group’s index gained 0.2 percent due to add-ons in the prices of some medical and pharmaceutical products during the month. In Mindanao, no movement was seen in the group’s index.
   

  Price hikes in petroleum products raised the mineral fuels, lubricants and related materials index in Luzon and in the Philippines by 0.3 percent and Visayas, 1.2 percent. Meanwhile in Mindanao, reductions were still seen in the prices of LPG. Hence, its group’s index further went down by 0.7 percent from -0.1 percent.

  The food index in Mindanao climbed 2.0 percent due to price mark-ups in selected fish species, calamansi, bananas and some vegetables. In Visayas, upward adjustments were observed in the prices of eggs, beef, bread, sardines, instant noodles and some spices and condiments resulting to a 0.1 percent growth in the group’s index. Meanwhile in Luzon, price gains in selected canned goods, pork, some fish species, bananas and selected vegetables were offsetted by lower prices of chicken, crabs, rice, mangoes, some milk products, sugar and desiccated coconut. The group’s index in the area thus registered a zero growth. At the national level, the index inched up 0.2 percent.
   

  The 0.4 percent increase in the machinery and transport index in Mindanao was brought about by the price hikes in some electrical appliances, electrical lamps and fixtures. In Luzon, Visayas and at the national level, prices of machinery and transport equipment generally remained stable during the month.
   

  While reductions were noted in the prices of some PVC pipes in Luzon, prices of selected sanitary fixtures were on the uptrend. In Mindanao, prices of plumbing fixtures were lower during the period while upward adjustments were noted in the prices of some school supplies. These offsetting price movements effected a zero growth in the miscellaneous manufactured articles index in the two areas. In Visayas, a 0.1 percent rise in the group’s index was attributed to higher prices of selected school and office supplies. Meanwhile, the group’s index in the Philippines decreased by 0.1 percent.

  The decline of 0.1 percent in the manufactured goods classified chiefly by materials index in Luzon was due to downward price adjustments in door jambs, windows, doors and selected fabricated wire products. In Mindanao, increments in the prices of some fabricated wire products were tempered by lower prices of paper and paper products in the area. Hence, movement in its group’s index was zero. Similarly, in Visayas and at the national level, the group’s index had a zero growth.
   

  Notes:

GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).