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

p - preliminary

Year-on-Year

The year-on-year movement in the country’s General Wholesale Price Index (GWPI) jumped to 4.1 percent in November from 2.9 percent in October. This can be attributed to higher annual growths in the indices of all the commodity groups except in beverages and tobacco and machinery and transport equipment indices which retained their respective previous month’s rates of 25.6 percent and 1.1 percent. Faster annual upticks were posted in the following indices during the month: food, 3.7 percent in November from 3.2 percent in October; crude materials, inedible except fuels, 24.4 percent from 8.7 percent; mineral fuels, lubricants and related materials, 3.1 percent from 1.0 percent; chemicals including animal and vegetable oils and fats, 5.3 percent from 2.5 percent; manufactured goods classified chiefly by materials and miscellaneous manufactured articles, 1.4 percent from 1.2 percent and 1.3 percent, respectively.

• In Luzon, the annual growth of the GWPI went up 3.5 percent in November from 2.3 percent in October. The annual adjustment in the heavily-weighted food index picked up 2.0 percent in November from 1.6 percent in October; crude materials, inedible except fuels index, 28.5 percent from 11.2 percent; mineral fuels, lubricants and related materials index, 3.0 percent from 1.0 percent; chemicals including animal and vegetable oils and fats index, 6.3 percent from 2.7 percent; and manufactured goods classified chiefly by materials index, 1.1 percent from 0.9 percent. Meanwhile, last month’s annual rates were retained in the indices of beverages and tobacco (24.6%); machinery and transport equipment (0.8%); and miscellaneous manufactured articles (1.0%).

  

   

   

• Likewise, the annual change in the GWPI in Visayas grew 3.8 percent in November from 2.0 percent in October as higher annual increases were observed in the indices of food at 5.0 percent from 2.7 percent; mineral fuels, lubricants and related materials, 2.3 percent from -1.1 percent; chemicals including animal and vegetable oils and fats, 2.5 percent from 2.0 percent; manufactured goods classified chiefly by materials, 1.1 percent from 0.8 percent; machinery and transport equipment, 0.7 percent from 0.4 percent; and miscellaneous manufactured articles, 1.3 percent from 1.0 percent. On the other hand, the crude materials, inedible except fuels index declined by 0.2 percent from -9.4 percent. Movement in beverages and tobacco index remained at its previous month’s rate of 25.7 percent.

  

   

   

• In Mindanao, the annual adjustment in the GWPI in November was at 8.9 percent, the same rate noticed in October. Annual movement in crude materials, inedible except fuels index advanced to 9.7 percent in November from 7.9 percent in October; mineral fuels, lubricants and related materials index, 2.6 percent from 2.1 percent; chemicals including animal and vegetable oils and fats index, 1.0 percent from 0.9 percent; machinery and transport equipment index, 3.5 percent from 3.4 percent; and miscellaneous manufactured articles index, 5.1 percent from 4.8 percent. However, the rest of the commodity groups registered slowdowns during the period.
   

  

   

   

• By Commodity Group, Month-on-Month

  On a monthly basis, wholesale prices of selected commodities at the national level climbed 0.7 percent in November from -0.2 percent in October. Higher monthly changes were posted in the food index at 0.7 percent in November from 0.6 percent in October; crude materials, inedible except fuels index, 9.1 percent from 0.7 percent; mineral fuels, lubricants and related materials index, 0.4 percent from -1.6 percent; and chemicals including animal and vegetable oils and fats index, 2.1 percent from 0.1 percent. From zero growth, the manufactured goods classified chiefly by materials and miscellaneous manufactured articles indices rose 0.2 percent and 0.1 percent, respectively. The index for machinery and transport equipment retained its last month’s rate of 0.1 percent while that for beverages and tobacco index was zero.

   

  In Luzon and Visayas, prices of copra were on the uptrend. In addition, price hikes in gravel were noticed in Luzon and in Mindanao. Higher prices of pebbles in Luzon also contributed the monthly gain. Thus, the crude materials, inedible except fuels index in the four areas accelerated during the period: Philippines, 9.1 percent from 0.7 percent; Luzon, 9.8 percent from 0.4 percent; Visayas, 6.2 percent from 3.4 percent; and Mindanao, 1.7 percent from 0.2 percent.

  The soaring prices of coconut oil in Luzon pushed up the chemicals including animal and vegetable oils and fats index in the area by 2.6 percent from 0.1 percent. Price mark-ups in some industrial chemicals raised its group’s index in Visayas by 0.5 percent. Meanwhile, in Mindanao, prices of chemicals including animal and vegetable oils and fats generally remained stable as its index had a zero growth. At the national level, the group’s index advanced 2.1 percent from 0.1 percent last month.

  A faster rate of increase was observed in the food index in Visayas at 2.5 percent and in Mindanao, 0.2 percent. This was brought about by upward price adjustments in selected food items like eggs, meat products, selected fruits and vegetables, calamansi, and some fish species during the month. Milk and canned goods were also priced higher in Visayas. Likewise, the group’s index in Luzon moved up by 0.6 percent as higher prices of rice, copra meal and desiccated coconut in the area were noted during the month. In the Philippines, the group’s index went up 0.7 percent from 0.6 percent.

  The 1.1 percent increase in mineral fuels, lubricants and related materials index in Mindanao was due to price hikes in LPG during the month. In addition, uptick in the prices of crude petroleum oil and LPG in Luzon caused a 0.4 percent gain in its group’s index. On the contrary, rollbacks in the prices of gasoline, kerosene and diesel oil in Visayas pulled down its group’s index in the area by 0.6 percent. At the national level, the group’s index climbed 0.4 percent from -1.6 percent.

  Higher prices of some tires pushed up the manufactured goods classified chiefly by materials index in Visayas by 0.4 percent. A 0.2 percent growth in the group’s index in Luzon was effected by add-ons in the prices of cement, lumber, doors and door jambs, G.I sheets, some hardware items and paper products. Similarly, the group’s index in Mindanao inched up 0.1 percent as prices of plywood, hollow blocks, G.I. sheets and selected school supplies were up during the month. All these factors resulted to a 0.2 percent growth in the group’s national index.

  Price increments in selected furniture and plumbing fixtures raised the miscellaneous manufactured articles index in Mindanao by 0.4 percent. Prices of PVC pipes and some garments were higher in Visayas. Thus, the group’s index in the area rose 0.3 percent. In Luzon, higher prices of some plumbing and sanitary fixtures were noticed during the period while downward adjustments were observed in the prices of some office supplies and miscellaneous manufactures. These offsetting price movements contributed to a zero growth in the group’s index in the area. At the national level, the group’s index grew 0.1 percent.

  A 0.2 percent monthly hike in machinery and transport equipment index in Visayas was due to price gains in selected agricultural machineries. Price mark-ups in some electrical apparatus brought a 0.1 percent increment in its group’s index in Luzon. However in Mindanao, reduction in the prices of some electrical appliances pushed down its group’s index by 0.1 percent. These mixed price trends effected a 0.1 percent growth in the group’s national index.

  The beverages and tobacco index in the four areas had a zero growth during the month.
   

  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).