PREVIOUS RELEASE

General Wholesale Price Index (1998=100) : December 2016

Reference Number: 2017-037
Release Date: 15 February 2017

Year-on-Year Growth Rates, All Items
December 2015 - December 2016

         Month             Philippines            Luzon               Visayas           Mindanao    
 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
 March -0.5 -0.8 1.0 0.6
 February -0.8 -1.1 1.0 0.4
 January 0.4 0.1 1.4 1.6
 2015 -3.9 -4.3 -1.4 -2.0
  December -0.7 -1.0 1.0 -0.6

                              
                              

 

 

 

 

•Year-on-Year
    

    The year-on-year growth of the General Wholesale Price Index (GWPI) at the national level went up by 5.5 percent in December 2016. In the previous month, it picked up by 3.1 percent, while in December 2015, it dropped by 0.7 percent. Higher annual increment was recorded in crude materials, inedible except fuels index at 25.5 percent; mineral fuels, lubricants and related materials index, 19.0 percent; and manufactured goods classified chiefly by materials index, 0.8 percent. Slower annual gains were, however, noticed in the indices of the following commodity groups: food, 2.2 percent; beverages and tobacco, 1.4 percent; chemicals including animals and vegetable oils and fats, 9.7 percent; and miscellaneous manufactured articles, 1.8 percent. That for machinery and transport equipment index remained at its previous month’s rate of 0.2 percent.

    The average annual growth of the GWPI at the national level in 2016 rose by   1.1 percent compared to -3.9 percent in 2015. Annual average rates of crude materials, inedible except fuels accelerated by 18.7 percent from -2.2 percent in 2015. Moreover, the annual average growth of chemicals including animal and vegetables oils and fats was higher at 5.3 percent. On the other hand, slower annual average increase was seen in food index at 3.4 percent; beverages and tobacco index, 2.3 percent; manufactured goods classified chiefly by materials index, 0.5 percent; and machinery and transport equipment index, 0.1 percent. The index of mineral fuels, lubricants and related materials still posted a negative annual average rate at -7.3 percent while that for miscellaneous manufactured articles index remained at 1.9 percent (Table 1.2).

  •     On an annual basis, the GWPI in Luzon climbed by 6.1 percent in December 2016. In previous month, it rose by 3.3 percent while in December 2015, it went down by 1.0 percent. Higher annual uptick was observed in crude materials, inedible except fuels index at 27.0 percent; mineral fuels, lubricants and related materials index, 20.3 percent; manufactured goods classified chiefly by materials index, 1.1 percent; and machinery and transport equipment index, 0.4 percent. Meanwhile, the annual mark-up in food index slowed down to 1.7 percent; beverages and tobacco index, 1.6 percent; chemicals including animal and vegetable oils and fats index, 12.0 percent; and miscellaneous manufactured articles index,  2.1 percent.

    For the year 2016, the annual average growth of GWPI in Luzon increased by 1.1 percent after it registered an annual average decline of 4.3 percent in 2015. The annual average growth of crude materials, inedible except fuels index picked up by 19.7 percent compared from -2.9 percent in the previous year. In addition, the index of chemicals including animal and vegetable oils and fats moved up at a faster rate of 6.4 percent. However, the average annual hike in food index decelerated to 3.2 percent; beverages and tobacco index, 2.4 percent; manufactured goods classified chiefly by materials index, 0.7 percent; machinery and transport equipment index; 0.1 percent; and miscellaneous manufactured articles index, 2.1 percent. That for mineral fuels, lubricants and related materials index continued to register a negative annual average rate at -7.3 percent (Table 2.2).
     

  •     The annual adjustment of GWPI in Visayas rose by 3.6 percent in December 2016. It was pegged at 2.6 percent in November 2016 and 1.0 percent in December 2015.  Higher annual upticks were posted in the indices of crude materials, inedible except fuels at 18.7 percent and mineral fuels, lubricants and related materials, 14.6 percent. Meanwhile, the annual gain in food index was slower at 3.9 percent. Negative annual rates were still noted in the indices of manufactured goods classified chiefly by materials at -2.0 percent and miscellaneous manufactured articles, -0.7 percent. The rest of the commodity groups retained their previous month’s rate.

    The annual average change of GWPI in Visayas for the year 2016 advanced by 1.6 percent from -1.4 percent in 2015. The index of crude materials, inedible except fuels posted double-digit annual average growth of 11.0 percent during the year from -1.0 percent in 2015. A higher annual average rate was also noted in chemicals including animal and vegetable oils and fats index at 1.1 percent. However,  slower annual average mark-up was seen in food index at 4.5 percent; beverages and tobacco index, 2.5 percent; machinery and transport equipment index, 0.2 percent; and miscellaneous manufactured articles index, 0.4 percent. Moreover, the annual average rates of the indices of mineral fuels, lubricants and related materials and manufactured goods classified chiefly by materials decreased by 5.2 percent and -1.0 percent, respectively (Table 3.2).
     

  •     The annual increment of GWPI in Mindanao was higher at 2.5 percent in December 2016. In the previous month, it rose by 1.7 percent, while in December 2015, it fell by 0.6 percent. The index of mineral fuels, lubricants and related materials recorded an annual growth of 4.6 percent in December from -6.3 percent in November. On the other hand, the annual mark-up in food index was slower at 4.0 percent and crude materials, inedible except fuels index, 8.8 percent. The rest of the commodity groups either moved at their previous month’s rate or had zero growth.

    The annual average change of the GWPI in Mindanao for the year 2016 went up by 1.2 percent from -2.0 percent in 2015. Higher annual average increases were observed in the indices of crude materials, inedible except fuels at 16.0 percent and miscellaneous manufactured articles, 1.1 percent. Moreover, the annual average change of food index moved up by 4.0 percent from zero growth. Meanwhile, the annual average increments of the following indices slowed down during the year: beverages and tobacco, 1.0 percent; chemicals including animal and vegetable oils and fats, 0.2 percent; and manufactured goods classified chiefly by materials, 0.6 percent. The index of mineral fuels, lubricants and related materials continued to post a negative annual average rate at -8.9 percent while that for machinery and transport equipment index had zero growth (Table 4.2).

•By Commodity Group, Month-on-Month
 

    The month-on-month growth of the GWPI in the Philippines inched up by 1.1 percent in December 2016. In November 2016, it gained by 0.3 percent. Faster rates were noted in the indices of crude materials, inedible except fuels at 7.6 percent; mineral fuels, lubricants and related materials, 5.2 percent; and manufactured goods classified chiefly by materials, 0.4 percent. Moreover, the index of chemicals including animal and vegetable oils and fats went up by 0.3 percent from -1.0 percent in the previous month. On the other hand, the index of food dropped by 0.2 percent.  Movement in machinery and transport equipment index remained at 0.1 percent while  the indices of beverages and tobacco and miscellaneous manufactured articles had zero growth (Table 1.1).

  •     Price hikes in gasoline, kerosene, diesel oil, bunker fuel and crude petroleum oil pushed up the index for mineral fuels, lubricants and related materials in Luzon by 5.1 percent. Similarly, the group’s index in Visayas rose by 7.8 percent due to upward adjustments in the prices of gasoline, kerosene and diesel oil. The group’s index in Mindanao, likewise, picked up by 4.7 percent brought about by higher prices of gasoline, diesel, lubricating oil and LPG. For the Philippines, the group’s index grew by 5.2 percent.
     
  •     The index of crude materials, inedible except fuels in Luzon climbed by 8.8 percent as prices of copra, abaca fiber, crushed gravel and pebbles went up during the month. Meanwhile, the group’s index in Visayas and Mindanao had zero growth. At the national level, the index accelerated by 7.6 percent.
     
  •     Selected paper products, flat bar and barbed wire in Luzon were priced higher during the month. Hence, the index of manufactured goods classified chiefly by materials in the area rose by 0.4 percent. Higher prices of selected paper products and metal containers, however, resulted to a 0.1 percent growth in its group’s index in Mindanao. On the contrary, lower prices of cement and hollow blocks pushed down the group’s index in Visayas by 0.2 percent. The national index advanced by 0.4 percent.
     
  •     The index of chemicals including animal and vegetable oils and fats in Luzon went up by 0.5 percent brought about by upward adjustments in the prices of coconut oil and selected medicinal and pharmaceutical preparations. The group’s index in Visayas and Mindanao, however, had zero growth during the period. For the Philippines, the group’s index increased by 0.3 percent.
     
  •     A 0.1 percent growth in machinery and transport equipment index in Luzon was due to higher prices in battery. On the other hand, the group’s index in Visayas and Mindanao posted zero growth. The group’s index at the national level inched up by 0.1 percent.
     
  •     The food index in Luzon fell by 0.4 percent as prices of pork, fresh vegetables, copra meal and desiccated coconut were lower during the month. On the other hand, the groups index in Visayas rose by 0.8 percent. This was effected by the increments in the prices of eggs, beef, pork, fish and fruits. Similarly, higher prices of selected dairy and bakery products, fish, vegetables, rice bran and coffee raised the group’s index in Mindanao by 0.3 percent. The food index at the country level dropped by 0.2 percent.
     
  •     The indices of beverages and tobacco and miscellaneous manufactured articles in the four areas registered zero growth in December 2016.

       
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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