General Wholesale Price Index (1998=100) : December 2015

Reference Number: 2016-026
Release Date: 29 February 2016

 

 


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

         Month             Philippines            Luzon               Visayas           Mindanao    
 2015 -3.9 -4.3 -1.4 -2.0
  December -0.7 -1.0 1.0 -0.6
  November -2.1 -2.4 -0.7 -1.4
  October -3.1 -3.5 -1.4 -1.0
  September -4.3 -4.9 -2.2 -1.6
  August -4.1 -4.4 -2.8 -2.5
  July -3.7 -4.1 -1.9 -2.2
  June -3.7 -4.2 -1.0 -2.1
  May -4.1 -4.8 -0.3 -1.8
 April -4.4 -4.9 -0.5 -2.9
 March -4.7 -5.2 -1.9 -3.0
 February -4.9 -5.4 -2.4 -2.1
 January -6.4 -7.2 -3.0 -3.0
 2014 2.7 2.5 3.2 4.3
  December -4.1 -4.8 -1.2 -0.8

              
              

 

 

 

 

 

Year-on-Year

          The year-on-year change of General Wholesale Price Index (GWPI) at the national level continued to drop as it registered -0.7 percent in December 2015. Last month, it was posted at -2.1 percent and in December 2014, -4.1 percent. This was due to the double-digit annual decrease recorded in mineral fuels, lubricants and related materials index at -18.1 percent. Contributing also to the downtrend was the slower annual growth in manufactured goods classified chiefly by materials index at 1.3 percent. On the other hand, higher annual increases were noted in the following indices: food, 5.6 percent; beverages and tobacco, 3.7 percent; crude materials, inedible except fuels, 3.1 percent; chemicals including animal and vegetable oils and fats, 2.0 percent; and miscellaneous manufactured articles, 1.4 percent. Annual movement in machinery and transport equipment index remained at 0.4 percent.

         

  • The annual average growth of the GWPI at the national level in 2015 was -3.9 percent compared to 2.7 percent in 2014. The average rates of crude materials, inedible except fuels index for the year 2015 decreased by 2.1 percent and mineral fuels, lubricants and related materials index, -27.5 percent. Slower annual average growths in 2015 were likewise observed in the indices of chemicals including animal and vegetable oils and fats, 2.4 percent and machinery and transport equipment, 1.6 percent. However, higher annual average rate was recorded in beverages and tobacco index at 6.7 percent; manufactured goods classified chiefly by materials index, 2.0 percent; and miscellaneous manufactured articles index, 1.9 percent. That for the food index remained at 5.1 percent (Table 1.2).
     
  • On an annual basis, the GWPI in Luzon dropped by 1.0 percent in December 2015 brought about by the 18.8 percent decline in mineral fuels, lubricants and related materials index. It was pegged at -2.4 percent a month ago and -4.8 percent in December 2014. Meanwhile, higher annual mark-ups were seen in the indices of food at 6.3 percent; beverages and tobacco, 3.7 percent; crude materials, inedible except fuels, 3.8 percent; chemicals including animal and vegetable oils and fats, 2.4 percent; and miscellaneous manufactured articles, 1.5 percent. The indices of manufactured goods classified chiefly by materials and machinery and transport equipment retained their previous month’s growths of 1.4 percent and 0.3 percent, respectively.

     

  • For the year 2015, the annual average growth of GWPI in Luzon went down by 4.3 percent from 2.5 percent in 2014. Annual average declines were correspondingly registered in the indices of crude materials, inedible except fuels at -2.6 percent and mineral fuels, lubricants and related materials, -28.1 percent. Moreover, the annual average increments in the indices of chemicals including animal and vegetable oils and fats slowed down to 2.9 percent and machinery and transport equipment, 1.9 percent. On the other hand, the annual average movement of the food index accelerated to 5.9 percent; beverages and tobacco index, 7.6 percent; and manufactured goods classified chiefly by materials and miscellaneous manufactured articles indices, both at 2.2 percent (Table 2.2).
     

  • Measured from a year ago level, the GWPI in Visayas picked up 1.0 percent in December 2015. Last month, it was -0.7 percent and in December 2014, -1.2 percent. Faster annual gains were exhibited in the indices of food at 7.0 percent and miscellaneous manufactured articles, 1.0 percent. Meanwhile, annual add-on in beverages and tobacco index eased to 5.4 percent; chemicals, including animal and vegetables oils and fats index, 0.7 percent; and manufactured goods classified chiefly by materials index, 0.6 percent. Moreover, annual decreases were still observed in the indices of crude materials, inedible except fuels at -8.5 percent and mineral fuels, lubricants and related materials, -15.1 percent. The index for machinery and transport equipment retained its last month’s growth of 0.4 percent.
     

  • The annual average adjustment of GWPI in Visayas for the year 2015 fell by 1.4 percent from 3.2 percent in 2014. Negative annual average rate was seen in crude materials, inedible except fuels index at -0.7 percent and mineral fuels, lubricants and related materials index, -24.0 percent. In addition, the annual average increases in the following indices were slower during the year: food, 5.2 percent; chemicals including animal and vegetable oils and fats, 0.9 percent; manufactured goods classified chiefly by materials, 0.8 percent; and machinery and transport equipment, 0.5 percent. On the other hand, the annual average mark-up in beverages and tobacco index was higher at 5.8 percent while movement in miscellaneous manufactured articles index remained at 1.1 percent (Table 3.2).
     

  • On an annual basis, the GWPI in Mindanao shrank by 0.6 percent in December 2015. It was recorded at -1.4 percent in November 2015 and -0.8 percent a year ago. The annual change of food index dropped by 0.5 percent; mineral fuels, lubricants and related materials index, -9.3 percent; and chemicals including animal and vegetable oils and fats index, -0.1 percent. A lower annual growth of 2.6 percent was also noticed in beverages and tobacco index. Meanwhile, a higher annual uptick was posted in crude materials, inedible except fuels index at 17.7 percent. The rest of the commodity groups moved at their respective last month’s rates.
     

  • The annual average growth of the GWPI in Mindanao went down by 2.0 percent in 2015 from a positive growth of 4.3 percent in 2014. The annual average rates in the indices of food declined by 0.1 percent and mineral fuels, lubricants and related materials, -20.2 percent. In addition, the annual average increases of the following indices slowed down during the year: beverages and tobacco, 1.8 percent; chemicals including animal and vegetable oils and fats, 0.3 percent; manufactured goods classified chiefly by materials, 1.2 percent; machinery and transport equipment and miscellaneous manufactured articles, both at 0.2 percent. On the other hand, the annual average increment in crude materials, inedible except fuels index was higher at 9.5 percent (Table 4.2).

     

     

     

  • By Commodity Group, Month-on-Month

              Measured from a month ago level, the GWPI in the Philippines dropped by 1.2 percent in December 2015. Last month, it recorded a 0.2 percent growth. Declines were noted in the indices of the following commodity groups: mineral fuels, lubricants and related materials at -11.4 percent and manufactured goods classified chiefly by materials, -0.1 percent. Higher upticks were, however, noted in the indices of food at 1.6 percent; beverages and tobacco and chemicals including animal and vegetable oils and fats, both at 0.5 percent and crude materials, inedible except fuels, 2.5 percent. The index for miscellaneous manufactured articles moved at its November rate of 0.2 percent while the machinery and transport equipment index registered a zero growth during the month (Table 1.1).

    The food index in Luzon climbed by 1.6 percent in December 2015. Prices of live weight hogs, chicken, beef, canned meat, milk, selected fish species, canned sardines, corn grain and rice were higher during the month. In Visayas, higher prices of pork, fish, instant noodles, sotanghon, fruits, vegetables, and coffee beans were also observed. Thus, the group’s index in the area advanced by 2.4 percent. In Mindanao, higher prices of live weight hogs, beef, and pork raised the group’s index by 0.9 percent. For the Philippines, the group’s index gained 1.6 percent.

    In Luzon, the index in beverages and tobacco picked up by 0.7 percent as prices of liquors and cigarettes went up in the area during the month. A zero growth was noticed in the group’s index in Visayas and Mindanao. At the national level, the group’s index inched up 0.5 percent.

    The crude materials, inedible except fuels index in Luzon rose 3.0 percent as prices of copra were on the uptrend. Moreover, higher prices of charcoal and sand pulled up the group’s index in Mindanao by 0.2 percent. Meanwhile, lower prices in copra in Visayas pushed down the group’s index in the area by 1.0 percent. At the national level, its index advanced 2.5 percent.

    Price rollbacks in gasoline, diesel oil and kerosene were observed in the three areas during the month. Crude petroleum oil were also priced lower in Luzon. Thus, negative monthly rates were posted in the indices of mineral fuels, lubricants and related materials index in the three areas in December: Luzon, -12.1 percent; Visayas, -5.2 percent; and Mindanao, -6.3 percent. The group’s national index dropped by 11.4 percent.

    In Luzon, the index for chemicals including animal and vegetable oils and fats inched up 0.6 percent as selected medicines and coconut oil were priced higher during the month. On the contrary, downward adjustments in the prices of some paints resulted to a 0.1 percent decline in its group’s index in Visayas. Lower prices of insecticides likewise pushed down the group’s index in Mindanao by   0.1 percent. For the Philippines, the group’s index rose 0.5 percent.

    Prices of cement, G.I. sheets and selected textile mill products in Visayas were on the downtrend during the month. Thus, the index for manufactured goods classified chiefly by materials in the area fell by 0.3 percent. Meanwhile, the group’s index in Luzon and Mindanao had zero growths. At the national level, the group’s index dropped by 0.1 percent.

    A 0.2 percent gain in the miscellaneous manufactured articles index in Luzon was due to the increments in the prices of undergarments, socks and selected footwear products in the area. The group’s index in Visayas likewise, went up 0.2 percent brought about by higher prices of selected clothing items. In Mindanao, the group’s index had no change. At the country level, the index increased by 0.2 percent.

     

    Note:

GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).


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