PREVIOUS RELEASE

General Wholesale Price Index (1998=100) : November 2018

Reference Number: 2019-027
Release Date: 23 January 2019

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

Year-on-Year Changes in Percent of General Wholesale Price Index (GWPI) for
All Items by Area : November 2017 - November 2018

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 November 5.7p 6.2p 4.2 3.2
 October 8.5 9.0 6.8 6.2
 September 9.6 10.0 7.6 8.2
 August 8.9 9.2 8.3 7.5
 July 9.0 9.3 6.8 7.8
 June 9.8 10.1 7.7 8.7
 May 8.4 8.4 7.4 8.9
 April 6.3 6.1 7.1 8.0
 March 5.4 5.2 5.8 6.4
 February 4.9 4.7 5.5 6.0
 January 4.8 4.8 5.6 5.2
 2017 4.4 4.6 4.3 2.7
  December 3.5 3.2 4.2 5.2
  November 4.4 4.2 5.3 5.2

                                              
                                                p - preliminary

 

 

GWPI

 

 

• Year-on-Year
    

1. Annual increment of the GWPI at the national level continues to decelerate

     The annual increase of GWPI at the national level slowed down further to 5.7 percent in November 2018. In the previous month, the annual rate was pegged at   8.5 percent and in November 2017, 4.4 percent. The annual movement in crude materials, inedible except fuels index dropped by 24.8 percent. Slower annual gains were also noted in the indices of the following commodity groups:

  • Food, (1.9%);
  • Beverages and Tobacco, (17.6%);
  • Mineral Fuels, Lubricants and Related Materials, (21.8%);
  • Chemicals Including Animal and Vegetables Oils and Fats, (0.7%);
  • Machinery and Transport Equipment, (1.3%); and
  • Miscellaneous Manufactured Articles, (1.6%).

     On the other hand, a higher annual add-on of 2.7 percent was posted in manufactured goods classified chiefly by materials index (see Table 1.1).

2. Annual rate of GWPI in Luzon slowly picks up

     The annual growth of the GWPI in Luzon, likewise, eased to 6.2 percent in November 2018. Its annual change in October 2018 was posted at 9.0 percent and in November 2017, 4.2 percent. Annual declines were registered in the indices of crude materials, inedible except fuels at 26.7 percent, and chemicals including animal and vegetable oils and fats at 0.5 percent. Moreover, slower annual hikes were recorded in the indices of the following commodity groups:

  • Beverages and Tobacco, (16.7%);
  • Mineral Fuels, Lubricants and Related Materials, (22.7%); and
  • Both Machinery and Transport Equipment and Miscellaneous Manufactured Articles, (1.6%).

     Meanwhile, higher annual mark-ups were seen in the indices of food at 2.4 percent, and manufactured goods classified chiefly by materials at 2.6 percent (see Table 2.1).

3. GWPI in Visayas, likewise, moves up at a slower pace

     The GWPI in Visayas continued to decelerate as its annual growth was recorded at 4.2 percent in November 2018. Its annual rate in the previous month was pegged at 6.8 percent and in November 2017, 5.3 percent. The slowdown was primarily due to the 15.2 percent annual decline in crude materials, inedible except fuels index. Moreover, annual increases were slower in the indices of the following commodity groups:

  • Food, (1.2%);
  • Beverages and Tobacco, (17.0%);
  • Mineral Fuels, Lubricants and Related Materials, (17.4%);
  • Chemicals Including Animal and Vegetable Oils and Fats, (7.9%); and
  • Manufactured Goods Classified Chiefly by Materials, (1.1%).

     The indices of machinery and transport equipment, and miscellaneous manufactured articles both retained their previous month’s rate of 0.2 percent (see Table 3.1).

4. Increment of the GWPI in Mindanao is slower during the month

     The annual increase of GWPI in Mindanao slid to 3.2 percent in November 2018. In the previous month, its annual rate was posted at 6.2 percent and in November 2017, 5.2 percent. Annual declines were posted in the indices of food at 0.5 percent, and crude materials, inedible except fuels, 1.9 percent. Compared with their annual rates in the previous month, slower increases were observed in the indices of the following commodity groups:

  • Beverages and Tobacco, (24.7%);
  • Mineral Fuels, Lubricants and Related Materials, (10.3%);
  • Chemicals Including Animal and Vegetable Oils and Fats, (2.8%);
  • Manufactured Goods Classified Chiefly by Materials, (4.1%); and
  • Machinery and Transport Equipment, (0.9%).

     The miscellaneous manufactured articles index retained its previous month’s annual rate of 2.7 percent (see Table 4.1).

 

• Month-on-Month

1. GWPI at the country level drops during the period

     Measured from a month ago level, the GWPI in the Philippines decreased by 1.7 percent in November 2018. In October 2018, its rate was noted at 0.2 percent. Declines were registered in the monthly indices of the following commodity groups:

  • Food, (0.04%);
  • Beverages and Tobacco, (0.1%);
  • Crude Materials, Inedible Except Fuels, (4.3%);
  • Mineral Fuels, Lubricants and Related Materials, (6.5%); and
  • Chemicals Including Animal and Vegetable Oils and Fats, (0.1%).

     Meanwhile, higher increases were noted in the indices of manufactured goods classified chiefly by materials at 0.3 percent; machinery and transport equipment, 0.02 percent; and miscellaneous manufactured articles, 0.01 percent (Table 1.2).

2. Wholesale prices of petroleum products decrease during the period

     Prices of petroleum products such as crude petroleum oil, gasoline, kerosene, diesel oil, bunker fuel oil, and LPG went down during the month. This factor pushed down the index of mineral fuels, lubricants and related materials by 6.4 percent in Luzon; by 7.6 percent in Visayas; and by 7.1 percent in Mindanao. For the Philippines, the group’s index fell by 6.5 percent.

3. The month-on-month change of crude materials, inedible except fuels index is lower during the period

     The index of crude materials, inedible except fuels fell by 4.7 percent in Luzon and by 2.7 percent in Visayas. Prices of copra and abaca fiber in Luzon and copra in Visayas were lower during the month. Meanwhile, the group’s index in Mindanao had zero growth. At the country level, the group’s index dropped by 4.3 percent.

4. Food index declines during the month

     The food index in Visayas went down by 0.3 percent as canned meat products, fish, fruits, sugar, coffee and desiccated products were priced lower during the month. Similarly, the group’s index in Mindanao plunged by 2.0 percent, brought about by the decreases in the prices of eggs, milk, fish, unmilled corn, rice, vegetables, sugar and cube ice. In Luzon, prices of beef, canned meat products, milk, canned fish, rice, cereal preparations, fruits and copra meal went up during the month. Thus, the food index in the area rose by 0.3 percent. The group’s index at the national level went down by 0.04 percent.

5. Chemicals including animal and vegetable oils and fats index in Luzon drops this month

     The index of chemicals including animal and vegetable oils and fats in Luzon fell by 0.2 percent as prices of coconut oil, paints, and selected medicinal and pharmaceutical preparations were lower during the month. On the contrary, vulcanizing cement was priced higher in Visayas. Thus, the group’s index in the area inched up by 0.1 percent. In Mindanao, the group’s index increased by 0.04 percent due to higher prices in selected medical and pharmaceutical preparations, and cosmetics and toilet preparations. At the national level, the group’s index declined by 0.1 percent.

6. Beverages and tobacco index moves downward

     The index of beverages and tobacco in Visayas went down by 0.1 percent as liquors were priced lower during the month. Similarly, the group’s index in Mindanao dropped by 1.0 percent due to price declines noted in liquors, beers and cigarettes. Meanwhile, the group’s index in Luzon had zero growth. For the Philippines, the group’s index declined by 0.1 percent.

7. Miscellaneous manufactured articles index posts minimal growth

     The index of miscellaneous manufactured articles in Luzon rose by 0.1 percent. This was brought about by higher prices of PVC electrical pipe and matches during the period. On the other hand, the decline in the price of selected men’s and ladies’ watch pushed down the group’s index in Visayas by 0.01 percent. Moreover, the group’s index in Mindanao went down by 0.01 percent due to the decrease in the price of PVC sewer pipe. For the Philippines, the group’s index gained by 0.01 percent.

8. Machinery and transport equipment index picks up during the month

     The machinery and transport equipment index in Luzon inched up by 0.1 percent as television set and battery were priced higher during the period.  Meanwhile, the group’s index in Visayas and Mindanao had zero growth. For the Philippines, the group’s index rose by 0.02 percent.

9. Manufactured goods classified chiefly by materials index moves upward

     A 0.4 percent uptick in manufactured goods classified chiefly by materials index in Luzon can be attributed to higher prices of rubber tubes, plywood, door jamb, cement, hollow blocks, glazed tile, steel bars and G.I. sheets. In Mindanao, the group’s index, likewise, rose by 0.1 percent. This was effected by the increments in the prices of fish net and lockset. On the other hand, lower prices of plywood and G.I. sheets pushed down the group’s index in Visayas by 0.1 percent. The group’s index at the country level recorded an increase of 0.3 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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