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

Reference Number: 2016-035
Release Date: 15 March 2016

 

 


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

         Month             Philippines            Luzon               Visayas           Mindanao    
 2016        
 January 0.4p 0.1p 1.4 1.6
 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

              
              

 

 

 

 

 

Year-on-Year

          The year-on-year growth of General Wholesale Price Index (GWPI) at the national level went up 0.4 percent in January. Last month, it was posted at -0.7 percent and in January 2015, -6.4 percent. Higher annual increments were noticed in the indices of beverages and tobacco at 4.0 percent; crude materials, inedible except fuels, 5.0 percent; chemicals including animal and vegetable oils and fats, 2.1 percent; and miscellaneous manufactured articles, 2.4 percent. Slower annual gains were, however, recorded in the indices of the following commodity groups: food, 3.9 percent; manufactured goods classified chiefly by materials, 1.1 percent; and machinery and transport equipment, 0.1 percent. The index for mineral fuels, lubricants and related materials still recorded a negative rate of 11.0 percent (Table 1.2).

        

  • On an annual basis, the GWPI in Luzon inched up 0.1 percent in January. Annual add-on was higher in beverages and tobacco index at 4.0 percent; crude materials, inedible except fuels index, 5.9 percent; chemicals including animal and vegetable oils and fats index, 2.6 percent; and miscellaneous manufactured articles index, 2.7 percent. However, slowdowns in the annual increments were correspondingly observed in the indices of food and manufactured goods classified chiefly by materials at 3.7 percent and 1.3 percent. In addition, the index for mineral fuels, lubricants and related materials fell by 11.6 percent while machinery and transport equipment index had a flat growth (Table 2.2).
     
  • In Visayas, the GWPI rose 1.4 percent in January. A higher annual uptick was posted in miscellaneous manufactured index at 1.2 percent. Meanwhile, the annual increase in food index slowed down to 6.1 percent and chemicals including animals and vegetable oils and fats index, 0.6 percent. On the other hand, negative annual rates were still noted in the indices of crude materials, inedible except fuels at -8.2 percent and mineral fuels, lubricants and related materials, -10.0 percent. The rest of the commodity groups retained their December rates with the manufactured goods classified chiefly by materials index registering a flat growth (Table 3.2).
  • A similar trend was seen in the GWPI in Mindanao as its annual adjustment increased by 1.6 percent in January. Faster annual hike was noticed in the heavily-weighted food index at 3.4 percent; beverages and tobacco index, 2.7 percent; and miscellaneous manufactured articles index, 0.8 percent. However, the annual add-on in crude materials, inedible except fuels index eased to 15.6 percent; manufactured goods classified chiefly by materials index, 0.8 percent; and machinery and transport equipment index, 0.1 percent. Annual declines were still recorded in the indices of mineral fuels, lubricants and related materials at -2.8 percent and chemicals including animal and vegetable oils and fats, -0.5 percent (Table 4.2).

     

  • By Commodity Group, Month-on-Month

              On a monthly basis, the GWPI in the Philippines continued to post negative rate at 1.2 percent in January 2016. This was brought about by the monthly decreases observed in the following commodity groups: food index, -1.0 percent; mineral fuels, lubricants and related materials index, -6.2 percent; manufactured goods classified chiefly by materials index, -0.1 percent; and machinery and transport equipment index, -0.2 percent. Moreover, lower monthly gains were seen in the indices of beverages and tobacco at 0.4 percent; crude materials, inedible except fuels, 2.1 percent; and chemicals including animal and vegetable oils and fats, 0.1 percent. On the other hand, a higher annual growth was noted in miscellaneous manufactured articles index at 1.0 percent (Table 1.1).

    The food index in Luzon went down by 1.3 percent as prices of live weight hogs, eggs, selected fish species, fruits, vegetables, cooking oil and desiccated coconut were lower during the month. Likewise, downward adjustments in the prices of eggs, rice and fruits in Visayas pushed down the group’s index in the area by 0.6 percent. However, higher prices of live weight hogs, fruits and vegetables resulted to a 0.8 percent increment in its group’s index in Mindanao. For the Philippines, movement in the group’s index was posted at -1.0 percent.

    Series of 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 noticed in the indices of mineral fuels, lubricants and related materials in the three areas in January: Luzon, -6.4 percent; Visayas, -7.6 percent; and Mindanao, -1.1 percent. The group’s national index dropped by 6.2 percent.

    Prices of cement, G.I. sheets and selected metal products in Luzon went down during the month. Thus, the index for manufactured goods classified chiefly by materials in the area fell by 0.1 percent. In Visayas, price cuts in selected paper products, cement and some glass products effected a 0.6 percent decline in its index for manufactured goods classified chiefly by materials. Similarly, a 0.1 percent reduction in the group’s index in Mindanao was due to lower prices in plywood and selected window frames in the area. At the national level, the group’s index fell by 0.1 percent.

    The machinery and transport equipment index in Luzon contracted by 0.3 percent as prices of selected insulated electrical wires were lower during the month. A 0.1 percent decline in the group’s index in Mindanao was likewise observed, this was brought about by the downward adjustments in the prices of selected electrical appliances and electrical lamps and fixtures in the area. A flat growth was noticed, however, in the group’s index in Visayas. The national index dropped by 0.2 percent.

    In Luzon, the index for beverages and tobacco rose 0.5 percent as beverages were priced higher in the area during the month. A flat growth was posted in the group’s index in Visayas and Mindanao. At the national level, the group’s index gained 0.4 percent.

    The index for crude materials, inedible except fuels in Luzon advanced by 2.4 percent as prices of copra, sand, gravel and pebbles were on the uptrend. Similarly, higher prices of charcoal and bamboo pole raised the group’s index in Mindanao by 1.3 percent. Meanwhile, in Visayas, it recorded a flat growth during the month. At the national level, the group’s index accelerated 2.1 percent.

    In Luzon, the index for chemicals including animal and vegetable oils and fats inched up 0.1 percent as prices of selected medicines, coconut oil, some paints and laundry soap increased during the month. On the contrary, reductions in the prices of paints resulted to a 0.1 percent decline in its group’s index in Visayas, while that for Mindanao had a zero growth during the month. For the Philippines, the group’s index inched up 0.1 percent.

    A 1.2 percent growth in the miscellaneous manufactured articles index in Luzon was due to the increments in the prices of selected sanitary fixtures and footwear products in the area. The group’s index in Visayas likewise, rose 0.3 percent due to higher prices of bed mattress. In Mindanao, no movement was seen in its group’s index. At the country level, the index increased by 1.0 percent.

     

    Note:

1. Price data collected from other agency was not yet received as of March 9, 2016.
2. 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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