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

Reference Number: 2016-084
Release Date: 27 July 2016

 

 


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

         Month             Philippines            Luzon               Visayas           Mindanao    
 2016        
  May 0.3p 0.3p -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
  May -4.1 -4.8 -0.3 -1.8

              

                                 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 May. Last month, it was posted at -0.3 percent and in May 2015, -4.1 percent. This was due to higher annual increment registered in the heavily-weighted food index at 4.6 percent. Meanwhile, slower annual gains were recorded in the indices of the following commodity groups: beverages and tobacco, 1.9 percent; crude materials, inedible except fuels, 18.5 percent; chemicals including animal and vegetable oils and fats, 3.8 percent; and manufactured goods classified chiefly by materials, 0.6 percent. Moreover, the indices for mineral fuels, lubricants and related materials and machinery and transport equipment still exhibited negative rates of 12.9 percent and 0.2 percent, respectively. For three consecutive months now, the annual change in the manufactured goods classified chiefly by materials index remained at 2.1 percent (Table 1.2).

        

  • On an annual basis, the GWPI in Luzon inched up 0.3 percent in May 2016. It was pegged at -0.6 percent last month and -4.8 percent in May 2015.  Annual add-on was higher in food index at 5.3 percent; beverages and tobacco index, 2.2 percent; and miscellaneous manufactured articles index, 2.3 percent. However, slowdowns in the annual increases were correspondingly observed in the indices of crude materials, inedible except fuels and chemicals including animal and vegetable oils and fats at 19.1 percent and 4.7 percent. In addition, the indices for mineral fuels, lubricants and related materials and machinery and transport equipment fell by 12.9 percent and 0.3 percent, respectively. That for manufactured goods classified chiefly by materials index remained at 0.7 percent for three successive months now (Table 2.2).
     
  • The annual growth of the GWPI in Mindanao decelerated to 0.8 percent in May 2016. It picked up by 1.4 percent in April 2016 while it went down by 1.8 percent in May 2015. Negative annual rates were still registered in the indices of mineral fuels, lubricants and related materials at -9.7 percent and chemicals including animal and vegetable oils and fats, -0.2 percent. Moreover, slow-paced annual growths were seen in the indices of food at 3.3 percent; beverages and tobacco, 0.5 percent; manufactured goods classified chiefly by materials, 0.2 percent; and miscellaneous manufactured articles, 1.0 percent. Meanwhile, annual add-on in crude materials, inedible except fuels index was higher at 19.5 percent while that for machinery and transport equipment index had a flat growth (Table 4.2).
  • The annual change of the GWPI in Visayas declined by 0.8 percent in May 2016. Last month, it posted -0.5 percent and in May 2015, -0.3 percent  Annual decreases were observed in the indices of mineral fuels, lubricants and related materials at -15.0 percent and manufactured goods classified chiefly by materials, -0.1 percent. Moreover, the annual gain in beverages and tobacco index eased to 1.8 percent; crude materials, inedible except fuels index, 12.4 percent; and chemicals including animals and vegetable oils and fats and machinery and transport equipment indices, both at 0.1 percent. The food index, however, moved up at a faster pace of 1.8 percent. That for miscellaneous manufactured articles index retained its last month’s rate of 1.0 percent (Table 3.2).

     

  • By Commodity Group, Month-on-Month

              The month-on-month adjustment of the GWPI in the Philippines advanced by 1.0 percent in May 2016. Last month, it rose 0.8 percent. Increments were higher in the indices of food at 0.8 percent; mineral fuels, lubricants and related materials, 5.7 percent; and miscellaneous manufactured articles, 0.1 percent. On the other hand, the indices for crude materials, inedible except fuels dropped by 3.6 percent and chemicals including animal and vegetable oils and fats, -0.9 percent. For three consecutive months now, the index for manufactured goods classified chiefly materials moved at 0.1 percent. The rest of the commodity groups recorded a flat growth (Table 1.1).

    Price hikes in gasoline, diesel, kerosene, bunker and crude oil and LPG pushed up the index for mineral fuels, lubricants and related materials in Luzon by 6.3 percent; Visayas, 1.3 percent; and Mindanao, 1.9 percent. For the Philippines, the group’s index accelerated 5.7 percent.

    The food index in Luzon increased 0.9 percent in May. Higher prices of live weight chickens, selected milk and dairy products, fruits, vegetables, sugar, poultry feeds and desiccated coconut were noted during the month. In Mindanao, prices of canned meat products, selected bakery products, vegetables, sugar, rice bran and margarine moved upward during the month. Thus, the food index in the area picked up by 1.3 percent. However, the downward adjustments in the prices of rice, fruits and rice bran in Visayas pushed down its food index by 0.2 percent. For the Philippines, the group’s index advanced by 0.8 percent.

    The index for manufactured goods classified chiefly by materials in Luzon inched up 0.1 percent as cement, hollow blocks, marble chips, selected structural metal products, and G.I. wire were priced higher during the month. On the contrary, price reduction in cement in Visayas resulted to a 0.1 percent decline in its group’s index in the area. Similarly, lower prices in cement, hollow blocks, glass products, and paper products in Mindanao caused a 0.1 percent decrease in its group’s index during the period. At the country level, the index registered an increment of 0.1 percent.

    The 0.1 percent uptick in the miscellaneous manufactured articles index in Luzon was due to the upward adjustments in the prices of selected magazines, printed matters and office and school supplies. Likewise, the group’s index in Visayas gained by 0.1 percent as prices of some clothing items and selected office supplies went up during the month. In Mindanao, the group’s index recorded a flat growth during the month. At the national level, the group’s index rose 0.1 percent.

    The index for chemicals including animal and vegetable oils and fats in Luzon and Visayas fell by 1.1 percent and 0.1 percent, respectively brought about by lower price of coconut oil. Meanwhile, a 0.1 percent increase was registered in the group’s index in Mindanao as selected paints and vitamins were priced higher during the period. The group’s national index dropped by 0.9 percent.

    Lower prices of copra pushed down the index for crude materials, inedible except fuels in Luzon by 4.1 percent and in Visayas, by 2.4 percent. On the contrary, higher prices of charcoal in Mindanao raised its group’s index by 0.6 percent. For the Philippines, the index contracted by 3.6 percent.

     

    Note:

1. Price data from other agency was not yet received as of July 25, 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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