Year-on-Year Growth Rates, All Items
March 2014 - March 2015

p - preliminary
r - revised

Year-on-Year

An annual decrease was still posted in the country’s General Wholesale Price Index (GWPI) at 4.9 percent in March. In February, it was recorded at -5.1 percent and in March 2014, 4.6 percent. This was effected by the annual declines still observed in the indices of crude materials, inedible except fuels at -8.1 percent and mineral fuels, lubricants and related materials, -33.0 percent. In addition, slower annual growths were seen in the heavily-weighted food index at 7.4 percent; chemicals including animal and vegetable oils and fats index, 1.9 percent; machinery and transport equipment index, 2.4 percent; and miscellaneous manufactured articles index, 1.8 percent. However, higher annual rates were noted in the indices of beverages and tobacco and manufactured goods classified chiefly by materials at 8.0 percent and 2.2 percent, respectively.

• Likewise, the GWPI in Luzon dropped by 5.4 percent in March. This was attributed to the negative annual rates recorded in crude materias, inedible except fuels index at -9.9 percent and mineral fuels, lubricants and related materials index, -34.0 percent. The annual increment in food index also decelerated to 9.2 percent; chemicals including animal and vegetable oils and fats index, 2.1 percent; machinery and transport equipment index, 3.0 percent; and miscellaneous manufactured articles index, 2.1 percent. Meanwhile, higher mark-ups were noted in the beverages and tobacco index at 9.7 percent and manufactured goods classified chiefly by materials index, 2.5 percent.

   

• A similar trend was noticed in the GWPI in Visayas as it exhibited a negative rate of 1.9 percent in March. The index for mineral fuels, lubricants and related materials further went down by 25.0 percent . Moreover, slower annual gains were seen in crude materials, inedible except fuels index at 6.3 percent and chemicals including animal and vegetable oils and fats index, 1.3 percent. On the other hand, higher annual upticks were posted in the indices of food at 4.5 percent; beverages and tobacco, 3.9 percent; and miscellaneous manufactured articles, 1.0 percent. The indices for manufactured goods classified chiefly by materials and machinery and transport equipment moved at their respective last month’s rates of 0.5 percent and 0.4 percent.

   

• In Mindanao, the 3.0 percent drop in the GWPI was brought about by the annual declines observed in the food index at -1.1 percent; mineral fuels, lubricants and related materials index at -23.9 percent; and miscellaneous manufactured articles index, -0.2 percent. A slower annual increase was also noted in crude materials, inedible except fuels index at 3.7 percent. The chemicals including animal and vegetable oils and fats index grew by 0.8 percent while the rest of the commodity groups retained their last month’s rate.

   

   

• By Commodity Group, Month-on-Month

  On a monthly basis, the GWPI at the national level moved up at a slower pace of 0.3 percent in March. Negative monthly rates were recorded in the indices of crude materials, inedible except fuels at -0.1 percent and miscellaneous manufactured articles, -0.2 percent. Moreover, the increases in mineral fuels, lubricants and related materials index slowed to 1.0 percent and chemicals including animal and vegetable oils and fats index, 0.1 percent. However, higher gains were noted in beverages and tobacco index at 1.2 percent; manufactured goods classified chiefly by materials index, 0.3 percent; and machinery and transport equipment index, 0.4 percent. The food index remained stable as it had a zero growth.

   

  Downward adjustments in the prices of other miscellaneous manufactures like columnar pads and ledger books pushed down the miscellaneous manufactured articles index in Luzon by 0.2 percent. On the other hand, higher prices of office supplies in Visayas raised its group’s index by 0.1 percent. In Mindanao, prices of miscellaneous manufactured articles generally remained stable as its index had a zero growth. These factors effected a 0.2 percent decrease in the group’s national index.

  The crude materials, inedible except fuels index in Visayas registered a negative monthly rate of 2.4 percent as prices of copra went down during the month. On the other hand, a 0.2 percent growth in the group’s index in Luzon was due to higher prices of abaca, sand, gravel and pebbles in the area. Meanwhile, no changes were seen in the prices of crude materials, inedible except fuels items in Mindanao. At the national level, the group’s index declined by 0.1 percent.

  Add-ons in the prices of selected cigarettes resulted to the 1.5 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of some liquors were on the uptrend. Hence, the group’s index in the area inched up by 0.2 percent. In Mindanao, the group’s index had a zero growth. At the national level, the group’s index picked up by 1.2 percent.

  The 1.0 percent uptick in mineral fuels, lubricants and related materials index in Luzon was due to price hikes in crude petroleum oil, gasoline, kerosene, diesel oil and fuel oil. In Mindanao, upward adjustment in the prices of gasoline pushed up its group’s index by 0.9 percent. Meanwhile, higher prices of gasoline and diesel oil in Visayas were offset by lower prices of kerosene and LPG. Thus, the group’s index in the area had a zero growth. The group’s index in the Philippines rose 1.0 percent.

  In Luzon, a 0.4 percent gain in machinery and transport equipment index was brought about by price additions in storage batteries, electrical lamps and fixtures, insulated wires and electrical appliances. Prices of machinery and transport equipment generally remained stable in Visayas and Mindanao while the group’s national index advanced by 0.4 percent.

  Higher prices of luggage and travelling bags, rubber tires, rubber inner tubes, plywood, lumber, some paper products, tiles, steel bars, electrical metal tubing, structural metal products and fabricated wires in Luzon were noted during the month. Thus, the manufactured goods classified chiefly by materials index in area rose 0.3 percent. Meanwhile, a zero growth was noticed in its group’s index in Visayas and Mindanao. In the Philippines, the index grew by 0.3 percent.

  Add-ons in the prices of other medical and pharmaceutical preparations raised the chemicals including animal and vegetable oils and fats index in Mindanao by 0.2 percent. In Luzon, increased prices in basic industrial chemicals, medical and pharmaceutical preparations and other cosmetic preparations caused a 0.1 percent growth in its group’s index. The same rate was registered in the group’s index in Visayas as prices of fertilizers went up during the month. At the national level, movement in the index was also recorded at 0.1 percent.

  The food index in Visayas climbed by 1.9 percent as prices of powdered milk, canned fish, sugar, cooking oil and other miscellaneous products were up during the month. However, lower prices of selected vegetables, calamansi, rice bran and desiccated coconut were seen in Mindanao. Hence, the group’s index fell by 0.4 percent. Similarly, downward movements observed in the prices of some food items such as rice, chicken, pork, beef, some fish species, uncanned meat products and other vegetable in Luzon pulled down the group’s index in the area by 0.1 percent. These mixed price trends resulted to a zero growth in the group’s national index.
   

  Note:

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