PREVIOUS RELEASE

General Wholesale Price Index (1998=100) : March 2017

Reference Number: 2017-120
Release Date: 15 May 2017

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

Year-on-Year Growth Rates, All Items
March 2016 - March 2017

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
 March 6.2 6.7 4.6 2.9
 February 7.5 8.1 5.8 3.4
 January 7.4 8.2 5.3 3.1
 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

                              
                              

 

 

 

 

• Year-on-Year
    
    The annual increase of the General Wholesale Price Index (GWPI) at the national level slowed down to 6.2 percent in March 2017. In the previous month, it went up by 7.5 percent, while in March 2016, it dropped by 0.5 percent. From a double-digit annual mark-up, the index of crude materials, inedible except fuels decelerated to 7.6 percent. Moreover, slower annual gains were noted in the indices of food at 1.6 percent and mineral fuels, lubricants and related materials, 27.2 percent. Meanwhile, annual increments were higher in the indices of beverages and tobacco at 7.5 percent; chemicals including animal and vegetable oils and fats, 7.6 percent; and machinery and transport equipment, 0.6 percent. The rest of the commodity groups retained their previous month’s rate. (Table 1.1)

• In Luzon, the annual growth in GWPI eased to 6.7 percent in March 2017. In February 2017, it accelerated by 8.1 percent while in March 2016, it declined by 0.8 percent. Annual add-ons were slower in the indices of food at 0.8 percent; crude materials, inedible except fuels, 8.3 percent; and mineral fuels, lubricants and related materials, 29.5 percent. On the other hand, annual adjustment in chemicals including animal and vegetable oils and fats index moved up at a faster pace of 8.7 percent. Annual movements in the rest of the commodity groups remained at their previous month’s rate.  (Table 2.1)

• The annual gain of GWPI in Visayas eased to 4.6 percent in March 2017. Its annual growth in February 2017 was pegged at 5.8 percent and 1.0 percent in March 2016. Negative annual rates were still recorded in the indices of manufactured goods classified chiefly by materials at -1.0 percent and miscellaneous manufactured articles, -0.6 percent. In addition, lower annual mark-ups were observed in the indices of crude materials, inedible except fuels at 4.1 percent and mineral fuels, lubricants and related materials, 14.2 percent. Other commodity groups either had higher annual growths or moved at their previous month’s rate. (Table 3.1)

• The year-on-year growth of GWPI in Mindanao was slower at 2.9 percent in March 2017. In the previous month, it climbed by 3.4 percent and in March 2016, 0.6 percent. The annual rate in food index slid to 3.2 percent; crude materials, inedible except fuels index, 2.2 percent; and mineral fuels, lubricants and related materials index, 7.2 percent. Meanwhile, higher annual increases were posted in the indices of the following commodity groups:
 

  • Beverages and Tobacco (9.6%)
  • Chemicals Including Animal and Vegetable Oils and Fats (2.0%)
  • Manufactured Goods Classified Chiefly by Materials (0.8%)
  • Machinery and Transport Equipment (0.4%)

That for miscellaneous manufactured articles index retained its previous month’s rate of 1.2 percent. (Table 4.1)
 

• By Commodity Group, Month-on-Month
 

   Measured from month ago level, the GWPI in the Philippines decreased by 0.6 percent in March 2017. In February 2017, it picked up by 0.7 percent. Declines were registered in the indices of food at -0.8 percent; crude materials, inedible except fuels, -3.2 percent; and mineral fuels, lubricants and related materials, -1.9 percent. Moreover, slower increments were noted in the indices of beverages and tobacco at 0.3 percent and chemicals including animal and vegetable oils and fats, 0.6 percent. Movements in the indices of manufactured goods classified chiefly by materials and machinery and transport equipment remained at 0.1 percent with the index of miscellaneous manufactured articles still registering a zero growth during the month. (Table 1.2)

  • The food index in Luzon fell by 0.9 percent in March 2017 as prices of liveweight chicken, eggs, fruits, vegetables, copra meal and poultry feeds were lower during the month. Similarly, the group’s index in Mindanao went down by 0.8 percent. This was effected by the decreases in the prices of fish, corn, flour, fruits, vegetables, sugar, rice bran and starch. Meanwhile, higher prices of pork, canned meat, milk, fish, selected bakery products, coffee and cooking oil resulted to a 0.1 percent growth in its group’s index in Visayas. The food index at the country level dropped by 0.8 percent.
     
  • Lower prices of gasoline, diesel oil, kerosene, LPG, bunker fuel oil and crude petroleum oil pushed down the index for mineral fuels, lubricants and related materials in Luzon by 1.7 percent. Likewise, the group’s index in Visayas fell by 3.6 percent due to downward adjustments in the prices of gasoline, diesel oil and kerosene. In Mindanao, prices of gasoline, diesel oil and lubricating oil were also lower during the month. Hence, the group’s index in the area went down by 2.3 percent.  For the Philippines, the group’s index declined by 1.9 percent.
     
  • The 3.1 percent decrease in the index of crude materials, inedible except fuels in Luzon was brought about by lower prices of copra and abaca fiber. Likewise, downward adjustments in the prices of copra resulted to a 6.0 percent decline in its group’s index in Visayas. Meanwhile, higher prices of bamboo pole and charcoal in Mindanao raised the group’s index in the area by 0.5 percent. At the country level, the group’s index contracted by 3.2 percent.
     
  • Upticks in the prices of beer and cigarettes during the month effected the 2.3 percent growth in beverages and tobacco index in Mindanao. In Visayas, prices of liquors were on the uptrend. Hence, the group’s index in the area advanced by 0.2 percent. Meanwhile, the group’s index in Luzon posted a zero growth during the month. The national index inched up by 0.3 percent.
     
  • The machinery and transport equipment index in Visayas picked up by 0.5 percent as prices of battery and electrical appliances were higher during the month. Likewise, a 0.2 percent growth in its group’s index in Mindanao was brought about by higher prices of electrical wire and some electrical appliances. On the other hand, the group’s index in Luzon posted a zero growth during the period. At the national level, the group’s index moved upward by 0.1 percent.
     
  • Prices of lumber, hollow blocks, selected glass and glass products and fabricated wire products in Luzon were higher during the month. Thus, the index of manufactured goods classified chiefly by materials in the area rose by 0.1 percent. Higher prices of selected leather products, cement, selected glass and glass products and G.I. sheets likewise raised the group’s index in Visayas by 0.1 percent. Moreover, increments in the prices of lumber, selected textile mill products, cement, hollow blocks, copper tubes or pipes, selected hardware products and fabricated wire products caused a 0.2 percent growth in its group’s index in Mindanao. The group’s index at the country level inched up by 0.1 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon advanced by 0.5 percent brought about by higher prices of coconut oil and selected medical and pharmaceutical preparations. In Visayas, upward price adjustments were noted in coconut oil, fertilizer, selected medical and pharmaceutical preparations, selected cosmetics and toilet preparations and vulcanizing cement. Thus, the group’s index in the area moved up by 1.0 percent. Similarly, the group’s index in Mindanao advanced by 0.9 percent due to higher prices of basic industrial chemicals, paints, selected medical and pharmaceutical preparations and cosmetics and toilet preparations and soap. For the Philippines, the group’s index went up by 0.6 percent.
     
  • A 0.2 percent growth in the miscellaneous manufactured articles index in Visayas was due to higher price of bed mattress. The group’s index in Luzon and Mindanao, however, had a zero growth during the period. At the national level, the index posted a zero growth during the month.

Releases by Year Published

Infographics

Contact Us

Technical Inquiries:

Price Statistics Division
Economic Sector Statistics Service
+632 8376 1959