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

Year-on-Year

The year-on-year change in the country’s General Wholesale Price Index (GWPI) went up 0.3 percent in May from -1.3 percent in April. A higher annual increment was posted in the food index at 4.4 percent in May from 3.6 percent in April; beverages and tobacco index, 21.2 percent from 20.4 percent; and miscellaneous manufactured articles index, 0.9 percent from 0.7 percent. Meanwhile, negative rates were still recorded in the indices of crude materials, inedible except fuels (-14.1% from -22.0%); mineral fuels, lubricants and related materials (-6.8% from -10.7%); and chemicals including animal and vegetable oils and fats (-1.2% from -2.8%). A slowdown was also noted in the machinery and transport equipment index at 1.0 percent from 2.2 percent. The growth for manufactured goods classified chiefly by materials index remained at its last month’s rate of 1.2 percent.

• The annual movement in the GWPI in Luzon was still negative at -0.4 percent in May from -2.1 percent in April. An annual decline was still seen in crude materials, inedible except fuels index at -14.5 percent from -23.9 percent; mineral fuels, lubricants and related materials index, -7.4 percent from -11.2 percent; and chemicals including animal and vegetable oils and fats index, -1.7 percent from -3.8 percent. Moreover, the annual gains in the indices of manufactured goods classified chiefly by materials and machinery and transport equipment slowed to 0.8 percent from 1.0 percent and 2.6 percent, respectively. The annual adjustment in food index however rose 4.1 percent from 3.2 percent; beverages and tobacco index, 18.9 percent from 18.6 percent; and miscellaneous manufactured articles index, 0.6 percent from 0.4 percent.
   

  

   

   

• On the other hand, the GWPI in Visayas moved up by 0.8 percent in May from -0.8 percent in April. It resulted from a jump in the heavily-weighted food index of 1.2 percent from 0.1 percent; manufactured goods classified chiefly by materials index, 1.0 percent from 0.9 percent; and machinery and transport equipment index, 0.4 percent from 0.3 percent. Meanwhile, the annual change in crude materials, inedible except fuels index continued to drop at 18.4 percent from -16.7 percent and mineral fuels, lubricants and related material index, -3.8 percent from -10.1 percent. The index of beverages and tobacco retained its last month’s rate of 27.3 percent; chemicals including animal and vegetable oils and fats index, 0.7 percent; and miscellaneous manufactured articles, 1.4 percent.

   

  

   

   

• The same trend was also noted in the GWPI in Mindanao as its annual uptick grew by 6.4 percent in May from 5.7 percent. Higher annual increments were observed in the food index at 10.1 percent from 9.8 percent; beverages and tobacco index, 32.3 percent from 27.9 percent; mineral fuels, lubricants and related materials index, 0.1 percent from -2.0 percent; manufactured goods classified chiefly by materials index, 3.9 percent from 2.9 percent; machinery and transport equipment index, 2.4 percent from 2.1 percent; and miscellaneous manufactured articles index, 3.5 percent from 3.2 percent. Those for the rest of the commodity groups moved up at slower rates.

   

  

   

   

• By Commodity Group, Month-on-Month

  Measured from a month ago level, wholesale prices of commodities at the national level climbed 0.1 percent in May from -0.3 percent in April. Higher monthly growths were noticed in the indices of the following commodity groups: beverages and tobacco, 0.7 percent from 0.6 percent; crude materials, inedible except fuels, 1.5 percent from -0.1 percent; chemicals including animal and vegetable oils and fats, 0.4 percent from -0.2 percent; and machinery and transport equipment, 0.2 percent from 0.1 percent. Slowdowns were seen in the indices of food and manufactured goods classified chiefly by materials at 0.1 percent and in miscellaneous manufactured articles index, 0.2 percent from 0.5 percent. On the other hand, the mineral fuels, lubricants and related materials index declined by 0.1 percent.

   

  Price add-ons in copra raised the crude materials, inedible except fuels index in Luzon by 1.9 percent. However, lower prices of copra further pushed down its index in Visayas by 1.1 percent. In Mindanao, prices of crude materials, inedible except fuels remained stable as its group’s index had a zero growth. These mixed price movements effected a 1.5 percent add-on in the group’s national index.

  Prices of some brewery and malt products were up in Mindanao. Thus, the beverages and tobacco index in the area advanced by 3.4 percent. Similarly, a 0.3 percent change in the group’s index in Luzon was due to price increases in selected cigarettes during the month. Meanwhile, the alcoholic and beverages index in Visayas had a zero growth. At the national level, the monthly movement in the group’s index inched up 0.7 percent from 0.6 percent.

  The chemicals including animal and vegetable oils and fats index in Luzon picked up by 0.5 percent as prices of coconut oil, some vitamins, pharmaceutical products and bath soaps were on the upward trend. Price gains were also noted in selected vitamins and antibiotics in Mindanao, hence its group’s index increased by 0.1 percent. In Visayas, the group’s index had a zero growth while in Philippines, the index went up 0.4 percent from -0.2 percent.
   

  Higher prices of selected electrical wires and fixtures pushed up the machinery and transport equipment index in the four areas: Mindanao and Philippines, 0.2 percent; Luzon and Visayas, 0.1 percent.

  A 0.3 percent monthly increment in miscellaneous manufactured articles index in Mindanao was triggered by upward price adjustments in undergarments and other office supplies in the area. Likewise, price increases were observed in some clothing items in Luzon and Visayas. Also contributing to the upward trend were price additions in wristwatch in Luzon. Hence, the group’s indices in the two areas grew by 0.1 percent. In the Philippines, the monthly adjustment in the group’s index was recorded at 0.2 percent.

  The index for manufactured goods classified chiefly by materials in Mindanao moved up by 0.4 percent as price hikes were noted in selected paper products, textile yarns, leather products and some hardware items. Some leather and synthetic leather products, plywood and concrete pipes were also priced higher in Visayas, thus its group’s index rose 0.2 percent. Moreover, uptick in the prices of plywood, cement, hollow blocks and door panels raised the group’s index in Luzon by 0.1 percent. These factors resulted to a 0.1 percent growth in the group’s national index.

  Upward adjustments in the prices of selected food items such as rice, beef, canned goods, milk and milk products, some fruits, vegetables and desiccated coconut raised the food index in Visayas by 0.9 percent. In Mindanao, the 0.1 percent increment was brought about by price mark-ups in milk and milk products, rice, wheat flour, sugar and selected fruits and vegetables during the month. Meanwhile, the group’s index in Luzon had a zero growth as increases in prices of live hogs, chicken, desiccated coconut and some vegetables were offsetted by lower prices of selected fish species, fruits in season and sugar during the month. At the national level, the monthly change in the group’s index was registered at 0.1 percent.

  Add-ons in the prices of LPG effected a 1.6 percent growth in the index of mineral fuels and lubricants in Visayas and 0.4 percent in Mindanao. On the other hand, rollbacks in the prices of gasoline, kerosene, fuel oil and diesel oil in Luzon resulted to a 0.3 percent drop in the group’s index. These mixed price trends among the three areas caused a 0.1 decline in the group’s national index.

   

  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).