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

p - preliminary
r - revised

Year-on-Year

The annual movement in the country’s General Wholesale Price Index (GWPI) went up 2.2 percent in September from 1.5 percent in August. This was effected by a higher annual rate in the food index at 1.6 percent in September from 0.1 percent in August; beverages and tobacco index, 25.6 percent from 24.9 percent; crude materials, inedible except fuels index, 4.2 percent from -1.8 percent; and chemicals including animal and vegetable oils and fats index, 2.0 percent from 1.0 percent. Meanwhile, a slowdown was noted in manufactured goods classified chiefly by materials index at 1.2 percent from 1.3 percent. The same previous month’s annual rates were observed in the indices of the following commodity groups: mineral fuels, lubricants and related materials (0.7%); machinery and transport equipment (1.0%); and miscellaneous manufactured articles (1.4%).

• The year-on-year growth of the GWPI in Luzon rose 1.5 percent in September from 0.8 percent in August. A faster annual adjustment was recorded in beverages and tobacco index at 24.6 percent from 23.9 percent; crude materials, inedible except fuels index, 6.3 percent from -0.7 percent; and chemicals including animal and vegetable oils and fats index, 2.1 percent from 1.0 percent. On the other hand, the heavily-weighted food index still posted an annual decline of 0.2 percent from -1.8 percent. Moreover, the annual gains in mineral fuels, lubricants and related materials and machinery and transport equipment indices eased to 0.7 percent from 0.8 percent. Annual movements in the other commodity groups remained at their previous month’s rate.

  

   

   

• Meanwhile, the annual hike in the wholesale prices of commodities in Visayas improved to 1.6 percent in September from 2.0 percent in August. The annual rate of crude materials, inedible except fuels index went down by 14.6 percent from -15.5 percent and mineral fuels, lubricants and related materials index, -0.7 percent from 1.4 percent. Likewise, slower annual add-ons were noticed in the indices of the following commodity groups: food (1.7% from 2.0%); beverages and tobacco (25.7% from 27.5%); and miscellaneous manufactured articles (1.0% from 1.2%). However, a higher annual gain was observed in chemicals including animal and vegetable oils and fats index at 2.1 percent from 1.1 percent. Annual changes in the indices of manufactured goods classified chiefly by materials and machinery and transport equipment remained at their corresponding last month’s rates of 1.1 percent and 0.4 percent.

  

   

   

• In Mindanao, the annual increase of the GWPI moved at a faster pace of 8.7 percent in September from 7.5 percent in August. The food index advanced 15.1 percent from 12.3 percent; beverages and tobacco index, 33.0 percent from 29.9 percent; mineral fuels, lubricants and related materials index, 1.1 percent from 0.3 percent; machinery and transport equipment index, 3.6 percent from 3.5 percent; and miscellaneous manufactured articles index, 4.8 percent from 4.6 percent. Meanwhile, a slower annual rate was registered in crude materials, inedible except fuels index at 10.6 percent from 14.1 percent and manufactured goods classified chiefly by materials index, 3.7 percent from 3.9 percent. The index for chemicals including animal and vegetable oils and fats retained its last month’s rate of 0.9 percent.

   

  

   

   

• By Commodity Group, Month-on-Month

  On a monthly basis, the GWPI at the national level accelerated to 1.0 percent in September from -0.2 percent in August. Upticks in wholesale prices were observed in most of the commodity groups. The food index posted a monthly increment of 1.0 percent from -1.4 percent; beverages and tobacco index, 0.8 percent from zero growth; crude materials, inedible except fuels index, 4.7 percent from 1.4 percent; mineral fuels, lubricants and related materials index, 1.9 percent from 0.6 percent; and chemicals including animal and vegetable oils and fats index, 0.8 percent from 0.3 percent. However, the monthly hike in miscellaneous manufactured articles index slowed to 0.1 percent from 0.3 percent while the manufactured goods classified chiefly by materials and machinery and transport equipment indices moved at their previous month’s rate of 0.1 percent.

   

  The crude materials, inedible except fuels index in Luzon jumped by 5.5 percent as higher prices of copra were noticed during the period. Prices of gravel and sand in the area also contributed to the uptrend. On the other hand, lower prices of bamboo and gravel pushed down its group’s index in Mindanao by 1.6 percent. In Visayas, prices of crude materials, inedible except fuels generally remained stable as its index had a zero growth. The group’s national index advanced 4.7 percent from 1.4 percent.

  Price additions in petroleum products raised the mineral fuels, lubricants and related materials index in Luzon by 2.3 percent. Likewise, a 0.2 percent gain in the group’s index in Mindanao was brought about by upward adjustments in the prices of LPG. Meanwhile, the group’s index in Visayas recorded a negative monthly rate of 2.3 percent as downward adjustment in the prices of lubricating oil, gasoline and kerosene were noted during the month. At the national level, the group’s index climbed 1.9 percent from 0.6 percent.

  Price mark-ups in desiccated coconut and selected food items such as fish, chicken, vegetables and off-season fruits effected a 1.1 percent growth in the food index in Luzon. The same food items were also priced higher in Mindanao thus, its group’s index went up 0.5 percent. Prices of copra meal and poultry feeds were also on the uptrend in the area. In Visayas, a 0.3 percent growth in the group’s index was due to add-ons in the prices of beef, selected fish species and some vegetables. At the national level, the group’s index rose 1.0 percent.

  Price hikes in liquors pushed up the beverages and tobacco index in Mindanao by 2.4 percent and in Luzon, 0.7 percent. Meanwhile, prices of beverages and tobacco in Visayas generally remained stable during the month. The group’s national index moved up by 0.8 percent.

  The 1.3 percent increment in chemicals including animal and vegetable oils and fats index in Visayas was attributed to price additions in coconut oil during the month. Similarly, upward adjustments in the prices of coconut oil and selected paints effected a 0.9 percent uptick in its group’s index in Luzon. In Mindanao, the group’s index had a zero growth as price increases in some vitamins and pharmaceutical products were offsett by the reductions in the prices of some paints. The monthly change in the group’s index in the Philippines was registered at 0.8 percent from 0.3 percent last month.

  Higher prices of some electrical apparatus and electrical wires were noted in Luzon during the month. Prices of selected electrical appliances and electrical supplies and fixtures were also up in Mindanao. Thus, the machinery and transport equipment index in the two areas and at the national level grew by 0.1 percent. In Visayas, no movement was seen in the prices of machinery and transport equipment.

  The miscellaneous manufactured articles index in Mindanao picked up by 0.2 percent. This was brought about by the price gains in wristwatch and some office supplies in the area. On the contrary, decreases in the prices of PVC pipes pulled down the group’s index in Visayas by 0.1 percent. Meanwhile, the group’s index in Luzon had a zero growth. These mixed price trends triggered a 0.1 percent increment in the group’s national index.

  The manufactured goods classified chiefly by materials index in Luzon moved up by 0.1 percent as plywood, G.I. sheets, glass and glass products and some fabricated wires were priced higher in the area. In Mindanao, upward movements in the prices of some textile products and fabricated wires were noticed during the month while downward adjustments were observed in the prices of cement and selected paper products. These offsetting price movements caused a zero growth in the group’s index in the area. In Visayas, the monthly change in the group’s index recorded a zero growth during the month. The group’s national index retained its last month’s rate of 0.1 percent.
   

  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).