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General Wholesale Price Index (1998=100) : January 2019

Reference Number: 2019-093
Release Date: 15 March 2019

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

Year-on-Year Changes in Percent of General Wholesale Price Index (GWPI) for
All Items by Area : January 2018 - January 2019

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2019        
 January 4.0p 4.5p 1.6p 2.0
 2018 7.0 7.2 6.5 6.5
 December 4.0 4.1 5.1 1.9
 November 5.0 5.3 4.2 3.2
 October 8.5 9.0 6.8 6.2
 September 9.6 10.0 7.6 8.2
 August 8.9 9.2 8.3 7.5
 July 9.0 9.3 6.8 7.8
 June 9.8 10.1 7.7 8.7
 May 8.4 8.4 7.4 8.9
 April 6.3 6.1 7.1 8.0
 March 5.4 5.2 5.8 6.4
 February 4.9 4.7 5.5 6.0
 January 4.8 4.8 5.6 5.2

                                              
                                                p - preliminary

 

 

GWPI January 2019

 

 

• YEAR-ON-YEAR
    

1. Annual increment of the GWPI at the national level remains at 4.0% in January 2019

     On an annual basis, the GWPI at the national level went up by 4.0 percent in January 2019. This was the same annual rate in December 2018, while it was higher at 4.8 percent in January 2018. Higher annual mark-ups were noted in the indices of food at 11.0 percent; chemicals including animal and vegetable oils and fats, 0.4 percent; and machinery and transport equipment, 2.3 percent. On the other hand, slower annual increases were registered in the indices of beverages and tobacco at 13.0 percent and manufactured goods classified chiefly by materials at 1.4 percent. Moreover, annual decreases were noted in the indices of crude materials, inedible except fuels at 20.1 percent and mineral fuels, lubricants and related materials at 1.9 percent. The miscellaneous manufactured articles index retained its previous month’s annual rate of 1.3 percent (see Table 1.1).

2. Year-on-year movement of GWPI in Luzon accelerates in January 2019

     The annual change of GWPI in Luzon rose by 4.5 percent in January 2019. Its annual growth in December 2018 was lower at 4.1 percent while in January 2018, it was higher at 4.8 percent. Annual increases were faster in the indices of food at 14.3 percent and machinery and transport equipment at 2.9 percent. Meanwhile, slower annual mark- ups were observed in the indices of beverages and tobacco at 14.3 percent, and manufactured goods classified chiefly by materials at 1.1 percent. Annual decreases were registered in the indices of crude materials, inedible except fuels at 21.4 percent; mineral fuels, lubricants and related materials at 2.5 percent; and chemicals including animal and vegetable oils and fats at 0.7 percent. The miscellaneous manufactured articles index retained its previous month’s annual rate of 1.2 percent (see Table 2.1).

3. Annual rate of GWPI in Visayas in January 2019 slowly picks up

     The annual increment of GWPI in Visayas decelerated to 1.6 percent in January 2019. Its annual rate in the previous month went up by 5.1 percent and in January 2018, 5.6 percent. Annual declines were posted in the indices of food at 0.4 percent, and crude materials, inedible except fuels at 15.0 percent. Compared with their annual rates in the previous month, annual increases were slower in the indices of beverages and tobacco at 14.4 percent; mineral fuels, lubricants and related materials, 4.6 percent; and machinery and transport equipment, 0.01 percent. Meanwhile, annual mark-ups were higher in the indices of chemicals including animal and vegetable oils and fats at 7.3 percent and miscellaneous manufactured articles at 0.3 percent. The index of manufactured goods classified chiefly by materials retained its previous month’s annual rate of 0.9 percent (see Table 3.1).

4. GWPI in Mindanao recorded higher annual gains

     The annual change of GWPI in Mindanao moved up at a faster rate of 2.0 percent in January 2019. In the previous month, its annual growth was posted at 1.9 percent and in January 2018, 5.2 percent. Annual hikes were higher in the indices of the following commodity groups:

  • Food, 0.8%;
  • Chemicals including animal and vegetable oils and fats, 3.0%;
  • Manufactured goods classified chiefly by materials, 4.3%; and
  • Miscellaneous manufactured articles, 3.1%.

     Compared with their annual rates in the previous month, slower annual upticks were, however, noticed in the indices of beverages and tobacco at 3.6 percent; mineral fuels, lubricants and related materials, 3.0 percent; and machinery and transport equipment, 0.5 percent. The annual rate in crude materials, inedible except fuels index further dropped by 2.5 percent (see Table 4.1).

• MONTH-ON-MONTH

1. GWPI at the country level moves upward

     On a monthly basis, the GWPI at the national level increased by 1.9 percent in January 2019 after it posted a 0.8 percent decline in the previous month. Higher monthly growths were observed in the indices of the following commodity groups:

  • Food, 6.4%;
  • Beverages and tobacco, 2.3%;
  • Chemicals including animal and vegetable oils and fats, and miscellaneous manufactured articles, both at 0.4%.

     Slower monthly hike was, however, noted in crude materials, inedible except fuels index at 0.5 percent. Declines were observed in the indices of mineral fuels, lubricants and related materials at 2.6 percent, and manufactured goods classified chiefly by materials at 0.4 percent. Machinery and transport equipment index retained its previous month’s rate at 0.5 percent during the month (see Table 1.2).

2. Wholesale prices of food items generally picks up during the month

     The food index in Luzon rose by 8.5 percent in January 2019. This was brought about by higher prices of beef, pork, canned and uncanned meat products, dairy products, fish, vegetables, canned and preserved fruits and vegetables, sugar, unprocessed animal feeds, coffee, cooking oil, margarine, tube ice, starch, vetsin, vinegar, and table salt. In Mindanao, prices of canned and uncanned meat products, dairy products, fish, flour, vegetables, sugar, and desiccated coconut went up during the period. Thus, the food index in the area increased by 1.3 percent. On the other hand, the group’s index in Visayas went down by 2.9 percent due to lower prices of pork, beef, fish, rice, fruits, sugar, and starch. The group’s index at the national level climbed by 6.4 percent.

3. Beverages and tobacco index in Luzon increases

     The index of beverages and tobacco in Luzon climbed by 3.0 percent as liquors, beer, softdrinks, and cigarettes were priced higher during the month. Meanwhile, the group’s index in Visayas and Mindanao had zero growth. For the Philippines, the group’s index moved up by 2.3 percent.

4. Machinery and transport equipment index moves up during the month

     The machinery and transport equipment index in Luzon advanced by 0.7 percent as prices of radio, television and communication equipment and apparatus, battery, electrical bulbs, electrical wire, switch, and selected electrical appliances were higher during the period. For Mindanao, price upticks in television sets, battery, electrical bulb, and selected electrical appliances slightly raised its group’s index by 0.1 percent.  Meanwhile, the group’s index in Visayas had zero growth. For the Philippines, the group’s index rose by 0.5 percent.

5. Miscellaneous manufactured articles index picks up

     The index of miscellaneous manufactured articles in Luzon gained by 0.4 percent. This was brought about by higher prices of dining set, steel bed, mattress, columnar pad, and ledger books during the period. For Mindanao, price hikes in ready-made clothing, undergarments, socks, umbrella, handkerchief, columnar pad, ledger books, chalk, and candles pushed up its group’s index by 0.8 percent. On the other hand, the group’s index in Visayas had zero growth. At the national level, the group’s index inched up by 0.4 percent.

6. Chemicals including animal and vegetable oils and fats index climbs during the month

     The index of chemicals including animal and vegetable oils and fats in Luzon increased by 0.3 percent due to the increments in the prices of selected medical and pharmaceutical preparations, toilet soap, floorwax, and selected cosmetics and toilet preparations. Meanwhile, prices of fertilizers and vitamins went up in Visayas. Thus, the group’s index in the area moved up by 0.1 percent. In Mindanao, the group’s index gained by 1.2 percent due to higher prices of selected basic industrial chemicals, and medical and pharmaceuticals preparations, toilet and laundry soaps, floorwax, and selected cosmetics and toilet preparations. At the country level, the group’s index rose by 0.4 percent.

7. Crude materials, inedible except fuels index increases this month

     Higher prices of abaca fiber, rattan, charcoal, and pebbles resulted to a 0.6 percent growth in the index of crude materials, inedible except fuels in Luzon. In Mindanao, prices of sand and gravel were higher during the period. Thus, the group’s index in the area went up by 0.3 percent. Meanwhile, the group’s index in Visayas had zero growth. At the country level, the group’s index moved upward by 0.5 percent.

8. Manufactured goods classified chiefly by materials index drops

     The index of manufactured goods classified chiefly by materials in Luzon fell by 0.6 percent as travelling bag, lumber, concrete pipe, marble chips, flat bar, G.I. pipe, steel casement, and machine nuts were priced lower during the month. On the contrary, the group’s index in Mindanao picked up by 0.8 percent due to higher prices noted in paper products, cotton woven fabrics, glass shell window, G.I. sheets, G.I. electrical conduit pipe, and hinges. Meanwhile, the group’s index in Visayas had zero growth. At the national level, the group’s index dropped by 0.4 percent.

9. Wholesale prices of petroleum products move downward

     Price decreases in petroleum products such as kerosene and bunker fuel oil pushed down the index of mineral fuels, lubricants and related materials in Luzon by 2.7 percent. Similarly, the group’s index in Visayas went down by 3.6 percent brought about by the lower prices of kerosene, diesel oil, and LPG. On the other hand, the group’s index in Mindanao picked up by 1.8 percent. This was effected by the price hikes in gasoline and LPG. For the Philippines, the group’s index declined by 2.6 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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