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

Reference Number: 2014-071
Release Date: 16 September 2014

 

 


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

         Month             Philippines            Luzon               Visayas           Mindanao    
 2014        
  July 3.8p 3.5p 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

          The year-on-year growth of the General Wholesale Price Index (GWPI) at the national level further improved to 3.8 percent in July. It was recorded at 4.9 percent last month and 3.6 percent in July 2013. Slower annual increments were posted in the heavily-weighted food index at 5.4 percent; beverages and tobacco index, 1.7 percent; mineral fuels, lubricants and related materials index, 1.9 percent; and miscellaneous manufactured articles index, 0.4 percent.  On the other hand, higher annual gains were registered in crude materials, inedible except fuels index at 29.4 percent; chemicals including animal and vegetable oils and fats index, 6.7 percent; and machinery and transport equipment index, 3.3 percent. The same previous month’s rate of 1.3 percent was seen in manufactured goods classified chiefly by materials index.

 

  • The annual hike in the GWPI in Luzon eased to 3.5 percent in July. This can be attributed to the lower annual rates in the indices of beverages and tobacco at 1.3 percent; crude materials, inedible except fuels, 19.5 percent; mineral fuels, lubricants and related materials, 1.9 percent; chemicals including animal and vegetable oils and fats, 6.4 percent; and miscellaneous manufactured articles, 0.1 percent. The rest of the commodity groups either had higher annual increases or moved at their previous month’s rate.
     
  • A similar trend was observed in the annual growth of the GWPI in Visayas as its rate slowed to 3.5 percent in July. It resulted from a negative rate of 0.8 percent in mineral fuels, lubricants and related materials index. Contributing also to the slowdown were the deceleration in the food index at 5.9 percent; manufactured goods classified chiefly by materials index, 3.1 percent; and miscellaneous manufactured articles index, 1.0 percent. On the other hand, upward annual adjustments were noted in the indices of beverages and tobacco at 0.6 percent; crude materials, inedible except fuels, 25.3 percent; and chemicals including animal and vegetable oils and fats index, 3.9 percent. The annual change in the machinery and transport equipment index remained at its last month’s rate of 1.9 percent.
     

  • A slower annual uptick was also registered in the GWPI in Mindanao at 3.8 percent in July. Lower annual growths were posted in all the commodity groups except for beverages and tobacco and machinery and transport equipment which retained their respective last month’s rates.
     

     

  • By Commodity Group, Month-on-Month

              On a monthly basis, movement in the GWPI in the country eased to 0.2 percent. Negative monthly rates were recorded in the mineral fuels, lubricants and related materials index at -0.5 percent and in miscellaneous manufactured articles index, -0.1 percent. Slowdowns were likewise noticed in the corresponding indices of food and machinery and transport equipment at 0.7 percent and 0.5 percent. On the other hand, the crude materials, inedible except fuels index went up 0.2 percent and chemicals including animal and vegetable oils and fats index, 0.3 percent. The manufactured goods classified chiefly by materials index moved at its last month’s rate of 0.1 percent while the beverages and tobacco remained stable as its index had a zero growth.

    Rollbacks in the prices of diesel oil pushed down the mineral fuels, lubricants and related materials index in Mindanao by 1.2 percent; Visayas, -0.2 percent; and Luzon, -0.5 percent. Downward adjustment in the prices of crude oil, kerosene and LPG were also noted in Luzon. The group’s national index went down by 0.5 percent.

    The miscellaneous manufactured articles index in Mindanao dropped by 0.2 percent as of some garments, footwear and other office supplies were priced lower during the month. Reductions in the prices of other miscellaneous manufactures in Luzon and in some furniture and fixtures in Visayas were seen during the month. On the other hand, prices of some sanitary fixtures were higher in Luzon and in Visayas. These offsetting price movements effected a zero growth in the group’s index in the two areas. At the national level, the group’s index declined by 0.1 percent.

    Increments in the prices of rice, chicken, pork, eggs, canned meat, selected fish species, and some fruits and vegetables were observed in Luzon, thereby registering a 0.8 percent growth in the food index in the area. In Visayas, a 0.5 percent gain in the group’s index was due to higher prices of rice, selected fish species, and some fruits and vegetables during the month. However, downward adjustments in the prices of salt, selected fruits and vegetables pulled down its group’s index in Mindanao by 0.1 percent. These mixed price trends caused a 0.7 percent gain in the group’s national index.

    A 0.6 percent uptick in the index for machinery and transport equipment in Luzon was brought about by the price increases in insulated electrical wires and some communication equipment and apparatus during the month. In Visayas and Mindanao, a 0.1 percent uptick was recorded in its group’s index. This was due to price add-ons in insulated electrical wires in Visayas and in selected electrical appliances in Mindanao. At the national level, the group’s index rose 0.5 percent.

    Price mark-ups were observed in other medical and pharmaceutical preparations in Visayas. Thus, the chemicals including animal and vegetable oils and fats index in the area inched up 0.1 percent. However, lower prices of coconut oil in Luzon effected a 0.9 percent decline in its group’s index. Moreover, a 0.1 percent drop in the group’s index in Mindanao was caused by the downward adjustment in the prices of fertilizers during the month. The national index moved at 0.3 percent.

    Higher prices of bamboo and firewood pushed up the crude materials, inedible except fuels index in Visayas by 1.7 percent. On the contrary, a price decrease in copra in Luzon further reduced its group’s index by 8.4 percent. In Mindanao, prices of crude materials, inedible except fuels generally remained stable as its index posted a zero growth. In the Philippines, the group’s index grew by 0.2 percent.

    Upward adjustments in the prices of cement and concrete products raised the manufactured goods classified chiefly by materials in Mindanao by 0.4 percent. Prices of cement, hollow blocks, tiles and G.I. sheets were noticed in Luzon. In Visayas, prices of door jambs and some bags were on the upward trend. Add-ons in the prices of plywood were also observed in the two areas. These factors resulted to a 0.1 percent gain in the group’s index in the two areas and in the Philippines.

    A 0.1 percent increment in beverages and tobacco index in Visayas was brought about by price add-ons in liquors. In Luzon, Mindanao and at the national level, no movement was registered in the group’s index during the month.
     

    Notes:

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


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