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General Wholesale Price Index (1998=100) : April 2017

Reference Number: 2017-135
Release Date: 15 June 2017

GENERAL WHOLESALE PRICE INDEX (GWPI)
(1998=100)

Year-on-Year Growth Rates, All Items
April 2016 - April 2017

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
 April 5.1p 5.6p 5.0 1.3
 March 6.0r 6.5r 4.6 2.9
 February 7.5 8.1 5.8 3.4
 January 7.4 8.2 5.3 3.1
 2016 1.1 1.1 1.6 1.2
  December 5.5 6.1 3.6 2.5
  November 3.1 3.3 2.6 1.7
  October 3.0 3.2 3.0 1.1
  September 1.9 1.9 2.6 1.3
  August 0.8 0.4 2.9 1.8
  July 0.2 -0.1 2.5 0.8
  June 0.3 0.2 -0.1 0.9
  May 0.3 0.3 -0.8 0.8
 April -0.3 -0.6 -0.5 1.4

                              
                              

 

 

 

 

• Year-on-Year
    
    The annual increase of the General Wholesale Price Index (GWPI) at the national level further slowed down to 5.1 percent in April 2017. In the previous month, it went up by 6.0 percent while it dropped by 0.3 percent in April 2016. Slower annual gains were noted in the indices of the following commodity groups:

  • Crude Materials, Inedible Except Fuels (6.2%)
  • Mineral Fuels, Lubricants and Related Materials (21.2%)
  • Chemicals Including Animal and Vegetable Oils and Fats (3.5%)
  • Manufacture Goods Classified Chiefly by Materials (1.1%)

On the other hand, annual increments were higher in the indices of food at 1.9 percent and beverages and tobacco, 8.3 percent. The rest of the commodity groups retained their previous month’s rate. (Table 1.1)

 

• In Luzon, the annual growth in GWPI decelerated to 5.6 percent in April 2017. It picked up by 6.5 percent in March 2017 while it went down by 0.6 percent in April 2016. The indices of the following commodity groups posted slower annual add-ons during the month:

  • Crude Materials, Inedible Except Fuels (6.8%)
  • Mineral Fuels, Lubricants and Related Materials (22.9%)
  • Chemicals Including Animal and Vegetable Oils and Fats (3.7%)
  • Manufacture Goods Classified Chiefly by Materials (1.4%)

Meanwhile, a higher annual increment of 1.6 percent was posted in food index during the month. Annual movements in other commodity groups remained at their previous month’s rate.  (Table 2.1)

 

• The year-on-year uptick of GWPI in Mindanao slowed down to 1.3 percent in April 2017. In the previous month, the rate was pegged at 2.9 percent and in April 2016, 1.4 percent. An annual decline of 0.8 percent was noted in the index of mineral fuels, lubricants and related materials. In addition, slower annual rates were seen in the indices of the following commodity groups:

  • Food (1.2%)
  • Crude Materials, Inedible Except Fuels (0.7%)
  • Chemicals Including Animal and Vegetable Oils and Fats (1.4%)
  • Miscellaneous Manufactured Articles (0.9%)

Meanwhile, annual increases were higher in the indices of beverages and tobacco at 9.7 percent and machinery and transport equipment, 0.5 percent. That for manufactured goods classified chiefly by materials index retained its previous month’s rate of 0.8 percent. (Table 4.1)

 

• The annual adjustment of GWPI in Visayas rose by 5.0 percent in April 2017. Its annual growth in March 2017 was recorded at 4.6 percent while it declined by 0.5 percent in April 2016. The annual uptick registered in beverages and tobacco index was higher at 8.5 percent; mineral fuels, lubricants and related materials index, 16.6 percent; and machinery and transport equipment index, 2.3 percent. Meanwhile, the annual growth of food index eased to 5.1 percent and crude materials, inedible except fuels index, 3.2 percent. On the other hand, negative annual rates were still noticed in the indices of manufactured goods classified chiefly by materials at -1.1 percent and miscellaneous manufactured articles, -0.5 percent. Annual change in chemicals including animal and vegetable oils and fats index remained at 4.3 percent. (Table 3.1)
 

 

• By Commodity Group, Month-on-Month
 

   Measured from a month ago level, the GWPI in the Philippines posted zero growth in April 2017. In March 2017, it dropped by 0.8 percent. This was due to the mixed price movements registered among the commodity groups. The index of beverages and tobacco picked up by 1.0 percent. In addition, the index of crude materials, inedible except fuels advanced by 2.3 percent from -3.2 percent and mineral fuels, lubricants and related materials index, 0.2 percent from -2.6 percent. On the other hand, the indices of food dropped by 0.4 percent; chemicals including animal and vegetable oils and fats, -0.3 percent; and manufactured goods classified chiefly by materials, -0.1 percent. Movement in the index of machinery and transport equipment remained at 0.1 percent while miscellaneous manufactured articles index still registered zero growth during the month. (Table 1.2)

  • Higher prices of copra and gravel pushed up the index of crude materials, inedible except fuels in Luzon by 2.8 percent. On the other hand, downward adjustments in the prices of copra and charcoal resulted to a 2.0 percent decline in its group’s index in Visayas. Meanwhile, the group’s index in Mindanao had zero growth. At the country level, the group’s index exhibited a growth of 2.3 percent during the month.
     
  • Higher prices in selected liquors and cigarettes during the month effected the   0.3 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of liquors, beer and cigarettes were on the uptrend. Hence, the group’s index in the area advanced by 8.1 percent. Similarly, a 0.1 percent growth in its group’s index in Mindanao was brought about by the increase in the price of beer. The national index inched up by 1.0 percent.
     
  • The index of mineral fuels, lubricants and related materials in Luzon went up by 0.3 percent. This was brought about by the price hikes in crude petroleum oil and lubricating oil. Similarly, the group’s index in Visayas accelerated by 3.0 percent due to upward adjustments in the prices of gasoline, diesel oil and kerosene. However, the group’s index in Mindanao fell by 4.2 percent as prices of diesel oil, lubricating oil and LPG went down in the area. For the Philippines, the group’s index advanced by 0.2 percent.
     
  • The machinery and transport equipment index in Luzon inched up by 0.1 percent as prices of electrical wires were higher during the month. Likewise, the group’s index in Visayas rose by 0.1 percent brought about by price upticks of selected electrical appliances. Moreover, increments in the prices of battery, electrical bulb and electrical wires resulted to a 0.2 percent growth in its group’s index in Mindanao. At the national level, the group’s index moved upward by 0.1 percent.
     
  • Prices of inner tubes, paperboard and cement in Luzon went down during the month. Thus, the index for manufactured goods classified chiefly by materials in the area declined by 0.1 percent. Meanwhile, price gains in plywood, selected glass and glass products and G.I. sheets raised the group’s index in Visayas by 0.1 percent. In Mindanao, it recorded a 0.1 percent growth during the month due to add-ons in the prices of selected leather products, fish net, abaca rope, aluminum tubes and nails. For the Philippines, the group’s index fell by 0.1 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon dropped by 0.4 percent. The downtrend was brought about by lower prices of industrial alcohol, zinc oxides and fertilizer. In Mindanao, downward price adjustments were noted in caustic soda and vulcanizing cement. Thus, the group’s index in the area went down by 0.3 percent. On the other hand, fertilizer and plastic sheets were priced higher in Visayas. This factor pushed up the group’s index in the area by 0.1 percent. For the Philippines, the group’s index decreased by 0.3 percent.
     
  • The food index in Luzon declined by 0.6 percent due to lower prices of eggs, flour, vegetables and instant coffee. Similarly, the group’s index in Visayas dropped by 0.7 percent due to the price reductions in eggs, fish, fruits, vegetables and sugar. However, the group’s index in Mindanao advanced by 0.6 percent brought about by the upward adjustments in the prices of eggs, selected canned meat products, fish, corn, bakery products, copra meal, poultry feeds and cooking oil. The food index at the country level dropped by 0.4 percent.
     
  • A 0.1 percent growth in the miscellaneous manufactured articles index in Visayas was due to higher prices of sink and watch. In Mindanao, prices of water closet, steel bed, selected undergarments and candles were on the uptrend. Hence, the group’s index in the area inched up by 0.1 percent. The group’s index in Luzon, however, had zero growth during the period. At the national level, the group’s index posted zero growth during the month.

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