PREVIOUS RELEASE

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

Reference Number: 2017-159
Release Date: 18 July 2017

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

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

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
  May 3.4 3.6 4.7 0.1
 April 5.1 5.6 5.0 1.3
 March 6.0 6.5 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

                              
                              

 

 

 

 

• Year-on-Year
    
    The annual increase of the General Wholesale Price Index (GWPI) at the national level continued to move at a slower pace of 3.4 percent in May 2017. In the previous month, it picked up by 5.1 percent and in May 2016, 0.3 percent. Annual gains decelerated in the indices of food at 0.1 percent; mineral fuels, lubricants and related materials, 11.8 percent; and miscellaneous manufactured articles, 0.9 percent. Meanwhile, annual increment was higher in crude materials, inedible except fuels index at 12.4 percent; chemicals including animal and vegetable oils and fats index, 4.6 percent; and machinery and transport equipment index, 0.7 percent. The rest of the commodity groups retained their previous month’s rate (see Table 1.1).

• In Luzon, the annual growth in GWPI likewise eased to 3.6 percent in May 2017. It accelerated by 5.6 percent in April 2017 and 0.3 percent in May 2016. An annual decline of 0.3 percent was noted in the heavily-weighted food index. In addition, slower annual rates were seen in the indices of mineral fuels, lubricants and related materials at 12.7 percent; manufactured goods classified chiefly by materials, 1.2 percent; and miscellaneous manufactured articles, 1.0 percent. On the other hand, higher annual increases were posted in the indices of crude materials, inedible except fuels at 13.6 percent and chemicals including animal and vegetable oils and fats, 5.0 percent. Growth rates in the other commodity groups remained at their previous month’s levels (see Table 2.1).

• The same trend was also observed in GWPI in Visayas as its annual gain slowed down to 4.7 percent in May 2017. It picked up by 5.0 percent in April 2017 while it dropped by 0.8 percent in May 2016. Negative annual rates were still recorded in the indices of manufactured goods classified chiefly by materials at -1.4 percent and miscellaneous manufactured articles, -0.6 percent. Moreover, lower annual mark-ups were registered in the indices of beverages and tobacco at 8.3 percent and mineral fuels, lubricants and related materials, 11.9 percent. Meanwhile, higher annual increases were posted in the indices of the following commodity groups (see Table 3.1):

  • Food (5.2%)
  • Crude Materials, Inedible Except Fuels (7.2%)
  • Chemicals Including Animal and Vegetable Oils and Fats (4.4%)
  • Machinery and Transport Equipment (2.7%).

• The year-on-year growth of GWPI in Mindanao moved slowly at 0.1 percent in May 2017. In the previous month, the rate was pegged at 1.3 percent and in May 2016, 0.8 percent. The annual change in food index dropped by 1.4 percent and mineral fuels, lubricants and related materials index, -2.5 percent. In addition, a slower annual rate was seen in the index of chemicals including animal and vegetable oils and fats at 1.3 percent. On the other hand, annual upticks were higher in the indices of beverages and tobacco at 9.9 percent; manufactured goods classified chiefly by materials, 1.2 percent; and miscellaneous manufactured articles, 1.1 percent. Crude materials, inedible except fuels index retained its previous month’s rate of 0.7 percent and machinery and transport equipment index, 0.5 percent  (see Table 4.1).
 

 

• By Commodity Group, Month-on-Month
 

   Measured from a month ago level, the GWPI in the Philippines went down by 0.7 percent in May 2017 after it had a zero growth in April 2017. Declines were noted in the indices of food at -0.9 percent and mineral fuels, lubricants and related materials, -2.4 percent. A slower increment of 1.8 percent was also noticed in crude materials, inedible except fuels index. Meanwhile, the indices of chemicals including animal and vegetable oils and fats and manufactured goods classified chiefly by materials both inched up by 0.1 percent. Movement in the index of machinery and transport equipment remained at 0.1 percent while the rest of the commodity groups exhibited a flat growth during the month (see Table 1.2).

  • The food index in Luzon declined by 0.9 percent as prices of fruits, vegetables and sugar were lower during the period. Similarly, the group’s index in Mindanao dropped by 1.4 percent due to the price reductions in fish, rice, flour, fruits, vegetables, sugar, copra meal and starch. A zero growth was noticed, however, in the group’s index in Visayas due to the mixed price trends observed among the commodity groups. The food index at the country level went down by 0.9 percent.
     
  • Lower prices of gasoline, diesel oil, kerosene, LPG, bunker fuel oil and crude petroleum oil pushed down the index of mineral fuels, lubricants and related materials in Luzon by 2.5 percent. Likewise, the group’s index in Visayas fell by 2.8 percent brought about by the downward adjustments in the prices of gasoline, diesel oil and kerosene. However, the group’s index in Mindanao rose by 0.2 percent as prices of diesel oil went up in the area. For the Philippines, the group’s index dropped by 2.4 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon increased by 0.1 percent as coconut oil and laundry soap were priced higher in the area. In Visayas and Mindanao, the group index had zero growth. The group’s index in the Philippines inched up by 0.1 percent.
     
  • The machinery and transport equipment index in Visayas went up by 0.5 percent. This was due to higher prices in battery, electrical bulb and electric fan. The group’s index in Luzon and Mindanao, however, had zero growth during the period. At the national level, the group’s index moved upward by 0.1 percent.
     
  • Selected paper products, textile mill products, cement, glass products, flat and steel bars, fork and spoon, hinges and locksets in Mindanao were priced higher during the month. Thus, the index for manufactured goods classified chiefly by materials in the area gained by 0.4 percent. Meanwhile, a price decrease in cement resulted to a 0.3 percent decline in its group’s index in Visayas. In Luzon, it recorded a zero growth during the month due to offsetting price movements observed among the items. The national index inched up by 0.1 percent.
     
  • Higher prices of copra, abaca fiber and gravel pushed up the index of crude materials, inedible except fuels in Luzon by 1.9 percent. Similarly, upward adjustments in the prices of copra raised the group’s index in Visayas by 1.3 percent. Increments in the prices of stone, sand and gravel likewise resulted to a 0.5 growth in its group’s index in Mindanao. At the country level, the group’s index exhibited a growth of 1.8 percent during the month.
     
  • Increases in the prices of beer and selected liquors caused a 0.1 percent growth in beverages and tobacco index in Mindanao. A zero growth was, however, seen in the group’s index in Luzon and Visayas. The national index recorded zero growth during the month.
     
  • A 0.2 percent growth in miscellaneous manufactured articles index in Mindanao was due to higher prices of mattress, selected printed matters, office and school supplies. On the other hand, a zero growth was posted in the group’s index in Luzon and Visayas and at the country level.

Releases by Year Published

Infographics

Contact Us

Technical Inquiries:

Price Statistics Division
Economic Sector Statistics Service
+632 8376 1959