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

Reference Number: 2016-098
Release Date: 22 August 2016

 

 


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

         Month             Philippines            Luzon               Visayas           Mindanao    
 2016        
  June 0.3p 0.2p -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 -1.1 -1.6 1.0 0.4
 January 0.4 0.1 1.4 1.6
 2015        
  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 -2.7 -2.5
  July -3.7 -4.1 -1.9 -2.2
  June -3.7 -4.2 -1.0 -2.1

              

                                 p - preliminary
                                
           

 

 

 

 

Year-on-Year

          The year-on-year growth of General Wholesale Price Index (GWPI) at the national level went up 0.3 percent in June. It was the same rate observed last month. However, it dropped by 3.7 percent in June 2015. Mixed movements in the annual growths among the commodity groups were registered during the month. The double-digit annual rate posted in crude materials, inedible except fuels index further moved up to 20.6 percent. Higher annual growth was likewise recorded in beverages and tobacco index at 2.1 percent.  Meanwhile, slower annual gains were noted in the indices of the following commodity groups: food, 3.9 percent; chemicals including animal and vegetable oils and fats, 3.5 percent; manufactured goods classified chiefly by materials, 0.3 percent; and miscellaneous manufactured articles, 1.8 percent. The indices for mineral fuels, lubricants and related materials and machinery and transport equipment continued to exhibit negative annual rates of 11.3 percent and 0.2 percent, respectively (Table 1.2).

        

  • In Mindanao, the GWPI rose 0.9 percent in June 2016. Last month, it was pegged at 0.8 percent and in June 2015, -2.1 percent. Higher annual upticks were seen in the indices of food at 3.9 percent and crude materials, inedible except fuels, 19.8 percent. Moreover, the annual growth of chemicals including animal and vegetable oils and fats index inched up 0.3 percent compared to an annual decline of 0.2 percent last month. On the other hand, the annual increment in miscellaneous manufactured articles index slowed down to 0.9 percent. The indices of mineral fuels, lubricants and related materials and machinery and transport equipment registered annual negative rates of 11.1 percent and 0.1 percent, respectively. Other commodity groups retained their last month’s growth (Table 4.2).
     
  • Meanwhile, annual uptick of GWPI in Luzon decelerated to 0.2 percent in June 2016. In May 2016, the rate was 0.3 percent and in June 2015, -4.2 percent. Annual declines were still registered in the indices of mineral fuels, lubricants and related materials at -11.4 percent and machinery and transport equipment, -0.2 percent. Moreover, slow-paced annual growths were seen in the indices of food at 4.1 percent; chemicals including animals and vegetable oils and fats, 4.3 percent; manufactured goods classified chiefly by materials, 0.3 percent; and miscellaneous manufactured articles, 2.0 percent. Annual add-ons in the indices of beverages and tobacco and crude materials, inedible except fuels were, however, higher at 2.3 percent and 21.5 percent, respectively   (Table 2.2).
     
  • The annual change of GWPI in Visayas went down by 0.1 percent in June 2016. Last month, it posted -0.8 percent and in June 2015, -1.0 percent  Annual decreases were still observed in the indices of mineral fuels, lubricants and related materials at -9.8 percent and manufactured goods classified chiefly by materials, -0.2 percent. Moreover, the annual mark-up in food index eased to  1.7 percent and miscellaneous manufactured articles index, 0.9 percent. On the contrary, the index for crude materials, inedible except fuels, moved up at a faster pace of 12.7 percent and chemicals including animal and vegetable oils and fats index, 0.4 percent. The indices for beverages and tobacco and  machinery and transport equipment moved at their corresponding previous month’s rates of 1.8 percent and 0.1 percent (Table 3.2).

     

  • By Commodity Group, Month-on-Month

              The month-on-month growth of GWPI in the Philippines improved to 0.8 percent in June 2016. It settled to 1.0 percent last month. A slower increment of 2.3 percent was noted in mineral fuels, lubricants and related materials index. From a negative rate last month, the index for chemicals including animal and vegetable oils and fats went up by 0.4 percent. The index for beverages and tobacco, likewise, increased by 0.2 percent. On the other hand, the indices for food and manufactured goods classified chiefly by materials maintained their previous month’s growths of 0.8 percent and 0.1 percent, respectively, while those for machinery and transport equipment and miscellaneous manufactured articles indices exhibited a flat growth during the month (Table 1.1).

    Higher prices of eggs, beef, selected canned fish, fruits, sugar, cooking oil, and margarine raised the food index in Luzon by 1.1 percent. However, prices of beef, pork, rice and fruits were generally lower in Visayas during the month, thus pushing down its group’s index by 0.5 percent. Similarly, the food index in Mindanao dropped by 0.1 percent due to decreases in the prices of beef, selected fish species, fruits, and vegetables. For the Philippines, the group’s index advanced 0.8 percent.

    The index for mineral fuels, lubricants and related materials in Luzon picked up 2.3 percent and in Visayas, 5.0 percent. This was brought about by the price hikes in gasoline, diesel, kerosene, bunker and crude oil. However, prices of gasoline went down in Mindanao. Hence, the group’s index in the area fell by  0.8 percent. At the national level, the group’s index accelerated 2.3 percent.

    The index for crude materials, inedible except fuels in Luzon and Visayas climbed 1.6 percent and 1.9 percent, respectively due to upward adjustments in the prices of copra. Similarly, the group’s index in Mindanao inched up 0.3 percent as firewood and charcoal were priced higher during the month. The national index escalated by 1.5 percent.

    The index for chemicals including animal and vegetable oils and fats rose 0.5 percent in Luzon. Prices of coconut oil, selected paints, selected medicinal and pharmaceutical preparations, and laundry soap went up in the area during the period. The group’s index in Visayas, likewise, moved up 0.3 percent brought about by higher prices of vitamins and selected medical and pharmaceutical preparations and insecticides. In Mindanao, price upticks in some medical and pharmaceutical preparations resulted to a 0.1 percent growth in its group’s index in the area. For the Philippines, the group’s index increased 0.4 percent.

    Prices of cement, hollow blocks, plywood, and inner tubes for tire in Luzon were higher during the month. Thus, the index for manufactured goods classified chiefly by materials in the area inched up 0.1 percent.  Similarly, higher prices of selected metal products pushed up the group’s index in Mindanao by 0.2 percent. Meanwhile, prices of manufactured goods classified chiefly by materials items in Visayas generally remained stable during the period as its index had a flat growth. At the country level, the index registered an increment of 0.1 percent.

    In Luzon, the index for beverages and tobacco gained 0.2 percent due to higher prices of cigarettes. A flat growth was, however, noticed in the group’s index in Visayas and Mindanao. At the country level, the group’s index advanced 0.2 percent.

     

    Note:

1. Price data collected from other agency was not yet received as of August 12, 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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