General Wholesale Price Index (1998=100) : August 2014

Reference Number: 2014-079
Release Date: 15 October 2014

 

 


Year-on-Year Growth Rates, All Items
August 2013 - August 2014

         Month             Philippines            Luzon               Visayas           Mindanao    
 2014        
  August 3.3p 3.3p 3.3 3.0
  July 3.6 3.5 3.5 3.8
  June 4.9 4.8 4.6 5.6
  May 5.2 5.1 4.7 6.8
 April 5.3 5.0 5.2 7.0
 March 4.6 4.2 4.4 7.8
 February 3.9 3.6 3.1 6.7
 January 4.6 4.4 3.7 7.6
 2013        
  December 5.3 4.9 4.7 9.2
  November 4.1 3.5 3.8 8.9
  October 2.9 2.3 2.0 8.9
  September 2.2 1.5 1.6 8.7
  August 1.5 0.8 2.0 7.5
  July 3.6 3.1 3.1 8.2

                p - preliminary

 

 

 

 

 

Year-on-Year

          On an annual basis, the country’s General Wholesale Price Index (GWPI) went up at a slower pace of 3.3 percent in August. In July, it was recorded at 3.6 percent and in August 2013, 1.5 percent. During the month, a negative annual rate of 2.2 percent was posted in mineral fuels, lubricants and related materials index. Likewise, annual gains decelerated in the indices of crude materials, inedible except fuels at 15.9 percent; chemicals including animal and vegetable oils and fats, 5.2 percent; and miscellaneous manufactured articles, 0.1 percent.  On the other hand, annual growth in the food index was higher at 8.1 percent; beverages and tobacco index, 2.0 percent; and manufactured goods classified chiefly by materials index, 1.4 percent. The machinery and transport equipment index moved at its last month’s rate of 3.3 percent.

 

  • In Luzon, the annual growth in the GWPI eased to 3.3 percent in August. An annual decline was noted in mineral fuels, lubricants and related materials index at -2.6 percent.  In addition, slower annual increments were posted in crude materials, inedible except fuels index, 15.9 percent and in chemicals including animal and vegetable oils and fats index, 5.9 percent. Meanwhile, faster upward annual adjustments were noticed in the indices of food (9.0%); beverages and tobacco (1.8%); and manufactured goods classified chiefly by materials (1.2%). The machinery and transport equipment index retained its previous month’s rate of 3.9 percent while the miscellanoeus manufactured articles index had a zero growth.
     
  • Similarly, the annual change of the GWPI in Visayas slowed down to 3.3 percent. The mineral fuels, lubricants and related materials index further declined by 1.2 percent. In addition, annual mark-up in the heavily-weighted food index decelerated to 5.5 percent; beverages and tobacco index, 0.5 percent; crude materials, inedible except fuels index, 22.3 percent; and chemicals including animal and vegetable oils and fats index, 3.7 percent. The annual movements in the indices of manufactured goods classified chiefly by materials; machinery and transport equipment and miscellaneous manufactured articles remained at their respective last month’s rates of 3.1 percent, 1.9 percent and 1.0 percent.

  • Following the same trend of the two areas, a slow-paced growth of 3.0 percent was registered in the GWPI in Mindanao. It resulted from a negative annual rate of 0.1 percent in the machinery and transport equipment index. Lower annual rates observed in the indices of the following commodity groups also contributed to the slowdown: food,  4.9 percent; crude materials, inedible except fuels, 1.8 percent; mineral fuels, lubricants and related materials, 3.1 percent; chemicals including animal and vegetable oils and fats, 1.4 percent; manufactured goods classified chiefly by materials, 1.8 percent; and miscellaneous manufactured articles, 0.5 percent. That for the beverage and tobacco index remained at 5.1 percent.
     

     

  • By Commodity Group, Month-on-Month

              Measured from a month ago level, the GWPI at the national level declined by 0.5 percent. Monthly decreases were recorded in crude materials, inedible except fuels index at -1.5 percent; mineral fuels, lubricants and related materials index, -3.5 percent; and chemicals including animal and vegetable oils and fats index, -0.1 percent. A slower rate was likewise seen in the machinery and transport equipment index at 0.1 percent. However, the food index moved up at a faster rate of 1.1 percent; beverages and tobacco index, 0.4 percent; and manufactured goods classified chiefly by materials index, 0.2 percent. No movement was noted in the miscellaneous manufactured articles index as it had a zero growth.

    Reductions in the prices of gasoline, diesel oil, kerosene and LPG pushed down the mineral fuels, lubricants and related materials index in Luzon by 3.8. percent and in Visayas, -0.9 percent. Lower prices of crude petroleum oil and fuel oil also contributed to the decline in the group’s index Luzon. In Mindanao, the price decrease in gasoline further pulled down its group’s index by 2.1 percent. Thus, the group’s national index went down by 3.5 percent.

    Downward adjustments in the prices of copra resulted to negative monthly rates in the crude materials, inedible except fuels index in Luzon (-1.7%) and Visayas (-0.2%). Gravel was also priced lower in Luzon.  On the other hand, prices of crude materials, inedible except fuels in Mindanao generally remained stable at its group’s index had a zero growth. At the national level, the group’s index declined by 1.5 percent.

    A 0.1 percent decrease in chemicals including animal and vegetable oils and fats index was seen in Luzon during the month. This was due to lower prices of coconut oil, roofing paints and some pharmaceutical products in the area. In Mindanao, higher prices of selected medical preparations and washing and cleaning compounds were offset by the price-cuts in fertilizers. Hence, the group’s index had a zero growth. Meanwhile, there were no price changes in chemicals including animal and vegetable oils and fats in Visayas during the period. The group’s national index dropped by 0.1 percent.

    The upticks of 1.6 percent in the food index in Luzon and 0.3 percent in Visayas were brought about by the increments in the prices of chicken, pork, eggs, milk, some canned goods, selected fish species, some fruits and desiccated coconut in the two areas. The price of copra meal also went up in Luzon. However, downward adjustments in the prices of rice, selected spices and condiments, some vegetables, salt, selected fruits and vegetables pulled down its group’s index in Mindanao by 1.0 percent. These mixed price trends resulted to the 1.1 percent growth in the group’s national index.

    Prices of liquors in Luzon and Visayas went up during the month. Thus, the beverages and tobacco index in the two areas went up by 0.4 percent and 0.1 percent, respectively. There were also price-add-ons in the brewery products in Luzon. In Mindanao, prices of beverages and tobacco generally remained stable as its group’s index posted a zero growth.  These factors contributed to a 0.4 percent growth in the group’s index at the national level.

    Upward adjustments in the prices of plywood, cement, hollow block, tiles and G.I. sheets pushed up the manufactured goods classified chiefly by materials in Luzon by 0.3 percent. Higher prices of plywood, notebooks and leather products also raised its group’s index in Mindanao by 0.1 percent. However, no price movements were seen in the manufactured goods classified chiefly by materials in Visayas. At the national level, the group’s index inched up by 0.2 percent.

    A 0.1 percent increase in the index for machinery and transport equipment in Luzon was due to price gains in insulated electrical wires and some electrical appliances. On the other hand, lower prices of selected electrical appliances and housewares pushed down its group’s index in Mindanao by 0.1 percent. In Visayas, prices of machinery and transport equipment generally remained stable. At the national level, the group’s index moved at 0.1 percent.

    In Luzon, prices of some sanitary fixtures were on the uptrend while prices of selected plumbing fixtures were lower during the month. In Visayas, price additions were seen in sanitary fixtures as prices in some furniture and fixtures were on the downward trend. These offsetting price movements among the commodities effected a zero growth in the miscellaneous manufactured articles index in the two areas. Meanwhile, prices of miscellaneous manufactured articles in Mindanao and at the national level remained stable as its index had a zero growth.
     

    Notes:

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


Releases by Year Published

Contact Us

Technical Inquiries:

Price Statistics Division
Economic Sector Statistics Service
e.varona@psa.gov.ph +632 8376 1959