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

p - preliminary

Year-on-Year

The country’s General Wholesale Price Index (GWPI) further went up to 3.5 percent in July from 2.7 percent in June. It resulted from a higher annual gain in the food index at 3.2 percent in July from 2.9 percent in June; beverages and tobacco index, 24.9 percent from 21.1 percent; mineral fuels, lubricants and related materials index, 5.8 percent from 3.9 percent; manufactured goods classified chiefly by materials index, 1.2 percent from 1.1 percent; machinery and transport equipment index, 0.9 percent from 0.8 percent; and miscellaneous manufactured articles index, 1.1 percent from 1.0 percent. On the other hand, the crude materials, inedible except fuels still posted a negative annual rate of 7.0 percent from -7.4 percent while the chemicals including animal and vegetable oils and fats index had a zero growth.

• On an annual basis, the GWPI in Luzon likewise grew by 3.1 percent in July from 2.4 percent in June. This can be attributed to the faster annual changes in the indices of the following commodity groups: beverages and tobacco (23.9 % from 18.9%); mineral fuels, lubricants and related materials (6.0% from 3.9%); manufactured goods classified chiefly by materials and miscellaneous manufactured articles (0.9% from 0.8%). While the annual add-on in the heavily-weighted food index improved to 1.8 percent from 2.0 percent, those for the rest of the commodity groups were negative annual rates with the machinery and transport equipment index retaining its previous month’s rate of 0.7 percent.
   

  

   

   

• In Visayas, the annual uptick in the GWPI was recorded at 3.1 percent in July from 2.2 percent in June. The food index advanced to 2.0 percent in July from 1.3 percent in June; mineral fuels, lubricants and related materials index, 7.7 percent from 4.6 percent; manufactured goods classified chiefly by materials index, 1.1 percent from 1.0 percent; and miscellaneous manufactured articles index, 1.3 percent from 1.2 percent. Meanwhile, a slowdown in the annual increment was seen in the chemicals including animal and vegetable oils and fats index at 0.8 percent from 1.1 percent. Annual movements in the indices of beverages and tobacco and machinery and transport equipment remained at their respective last month’s rates of 27.1 percent and 0.4 percent while the crude materials, inedible except fuels index still registered an annual decrease of -17.7 percent from -17.8 percent.

  

   

   

• In Mindanao, the annual growth in the GWPI rose 8.2 percent in July from 6.9 percent in June. Higher annual mark-ups were observed in food index at 14.9 percent from 11.0 percent; crude materials, inedible except fuels index, 10.3 percent from 7.9 percent; manufactured goods classified chiefly by materials index, 3.2 percent from 2.8 percent; and machinery and transport equipment index, 2.3 percent from 2.2 percent. Meanwhile, the year-on-year increments in the following commodity groups eased during the month: beverages and tobacco index, 30.0 percent from 31.5 percent; mineral fuels, lubricants and related materials index, 2.1 percent from 2.6 percent; chemicals including animal and vegetable oils and fats index, 0.5 percent from 0.7 percent; and miscellaneous manufactured articles index, 3.3 percent from 3.7 percent.

   

  

   

   

• By Commodity Group, Month-on-Month

  Measured from a month ago level, the GWPI climbed by 1.2 percent in July from 0.7 percent in June. The index for mineral fuels, lubricants and related materials posted a higher monthly increment of 3.3 percent from 2.3 percent. From zero growth, the indices of the following commodity groups also contributed to the uptrend: food (0.8%); beverages and tobacco (3.3%); manufactured goods classified chiefly by materials and machinery and transport equipment (0.1%). A slowdown was noted in miscellaneous manufactured articles index at 0.1 percent from 0.2 percent. However, the indices for crude materials, inedible except fuels and chemicals including animal and vegetable oils and fats fell by 0.2 percent from a growth of 5.5 percent and 1.0 percent, respectively.

   

  Price hikes in selected cigarettes were noted in Luzon. Thus, the beverages and tobacco index in the area and at the national level went up 4.2 percent and 3.3 percent, respectively. Meanwhile, prices of beverages and tobacco generally remained stable in Visayas and Mindanao.

  Upward adjustments in the prices of petroleum products pushed up the mineral fuels, lubricants and related materials index in the three areas: Philippines and Luzon; 3.3 percent and Visayas, 5.7 percent. In Mindanao, the group’s index rose 0.1 percent as higher prices of LPG was noticed during the period. This was slower than its last month’s rate of 1.6 percent.

  The food index in Mindanao grew by 3.7 percent and in Visayas, 0.8 percent as higher prices of selected food items such as rice, fruits, vegetables, some fish species and sugar were noticed in the two areas during the month. Price mark-ups in selected poultry feeds also contributed to the uptrend in Mindanao. In Luzon, price gains in pork, chicken, eggs, milk and some fruits along with the increments in the prices of desiccated coconut raised its group’s index by 0.5 percent. In the Philippines, the group’s index rose 0.8 percent from a zero growth.
   

  A 0.5 percent growth in manufactured goods classified chiefly by materials index in Mindanao was due to upticks in the prices of plywood, paper and paper products and some construction materials. In Luzon and in Visayas, the group’s index inched up 0.1 percent as upward price adjustments were seen in rubber tires. Price increases on cement, plywood, and G.I. sheets were likewise observed in Luzon during the reference month. Thus, the group’s national index moved up 0.1 percent.

  The index for machinery and transport equipment in Mindanao and in the Philippines inched up 0.1 percent as higher prices were recorded in selected electrical appliances. In Luzon and Visayas, prices of machinery and transport equipment generally remained stable during the month.

  A 0.1 percent growth was registered in the miscellaneous manufactured articles index in the four areas. This can be attributed to price gains in selected wristwatches in Luzon and Visayas and some miscellaneous articles in Mindanao.

  Upward adjustments in the prices of selected paints and toilet soap preparations pushed up the chemicals including animal and vegetable oils and fats index in Mindanao by 0.1 percent. However, a 0.2 percent decline in the group’s index in Luzon, Visayas and in the Philippines was brought about by the lower prices of coconut oil during the month.

  The 2.3 percent growth in crude materials, inedible except fuels index in Mindanao was due to higher prices of bamboo, charcoal and gravel in the area. Increments in the prices of charcoal also raised its group’s index in Visayas by 0.2 percent. Meanwhile, the group’s index in Luzon went down by 0.4 percent as the price of copra decreased. These mixed price trends resulted to a 0.2 percent drop 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).