General Wholesale Price Index (1998=100) : October 2014

Reference Number: 2014-101
Release Date: 18 December 2014

 

 


Year-on-Year Growth Rates, All Items
October 2013 - October 2014

         Month             Philippines            Luzon               Visayas           Mindanao    
 2014        
  October 1.3p 1.1p 2.8p 1.5p
  September 1.7 1.6 3.3 1.9
  August 3.1 3.1 3.3 3.0
  July 3.4 3.3 3.5 3.8
  June 4.9 4.8 4.6 5.6
  May 5.2 5.1 4.7 6.8
 April 5.3 5.0 5.2 7.0
 March 4.6 4.2 4.4 7.8
 February 3.9 3.6 3.1 6.7
 January 4.6 4.4 3.7 7.6
 2013        
  December 5.3 4.9 4.7 9.2
  November 4.1 3.5 3.8 8.9
  October 2.9 2.3 2.0 8.9

                p - preliminary

 

 

 

 

 

Year-on-Year

          The annual increase in the General Wholesale Price Index (GWPI) at the national level continued to move at a slower pace of 1.3 percent in October. Last month, it was recorded at 1.7 percent and in October 2013, 2.9 percent. The slowdown resulted from an annual decline of 9.0 percent in mineral fuels, lubricants and related materials index. In addition, a slower annual gain was noted in the heavily-weighted food index at 5.9 percent. However, higher annual increments were observed in beverages and tobacco index (6.6%); crude materials, inedible except fuels index (14.5%); chemicals including animal and vegetable oils and fats index (5.5%); manufactured goods classified chiefly by materials index (2.3%); and miscellaneous manufactured articles index (0.4%). The machinery and transport equipment index retained its previous month’s rate of 3.2 percent.

 

  • In Luzon, the annual growth in the GWPI slowed to 1.1 percent in October. This was brought about by an annual drop of 9.3 percent in the mineral fuels, lubricants and related materials index and a slowdown in the annual add-on of the food index at 6.1 percent. On the other hand, higher upward adjustments were registered in the indices of the following commodity groups: beverages and tobacco, 7.9 percent; crude materials, inedible except fuels, 14.7 percent; chemicals including animal and vegetable oils and fats, 6.6 percent; manufactured goods classified chiefly by materials, 2.2 percent; and miscellaneous manufactured articles, 0.3 percent. That for machinery and transport equipment index remained at 3.9 percent.
     
  • Similarly, the annual gain in the GWPI in Visayas in October eased to 2.8 percent. This was mainly due to the 2.8 percent decrease in the mineral fuels, lubricants and related materials index. A lower annual growth of 18.5 percent in crude materials, inedible except fuels index also contributed to the downtrend. Higher annual hikes were, however, seen in the beverages and tobacco index at 0.8 percent; manufactured goods classified chiefly by materials index, 3.5 percent; and miscellaneous manufactured articles index, 1.3 percent. Movements in the indices of the rest of commodity groups remained at their previous month’s rates.

  • Following the same trend in the two areas, the annual change in the GWPI in Mindanao improved to 1.5 percent in October as the mineral fuels, lubricants and related materials index further went down by 9.3 percent. Moreover, slower annual growths were noted in the indices of crude materials, inedible except fuels at 3.3 percent and chemicals including animal and vegetable oils and fats, 1.4 percent. Meanwhile, the indices of the following commodity groups posted higher annual increments during the month: food, 5.4 percent; machinery and transport equipment, 0.1 percent; and miscellaneous manufactured articles, 0.4 percent. The indices of beverages and tobacco and manufactured goods classified chiefly by materials moved at their respective last month’s rates of 2.9 percent and 1.8 percent.
     

     

  • By Commodity Group, Month-on-Month

              Measured from a month ago level, the country’s GWPI continued to post a negative rate of 0.6 percent in October as monthly declines were still noticed in the indices of food and mineral fuels, lubricants and related materials at 0.3 percent and       4.0 percent, respectively. A slower monthly growth of 2.5 percent in beverages and tobacco index also caused the downtrend. On the other hand, faster monthly upticks were recorded in crude materials, inedible except fuels index at 2.6 percent; chemicals including animal and vegetable oils and fats index, 0.8 percent; manufactured goods classified chiefly by materials index, 0.7 percent; and miscellaneous manufactured articles index, 0.4 percent. The machinery and transport equipment index retained its previous month’s rate of 0.1 percent.

    A series of price rollbacks in gasoline and diesel oil was observed nationwide. Kerosene was priced lower in Luzon and Visayas during the month. In addition, downward adjustments were seen in the prices of crude oil in Luzon and LPG in Visayas. All these factors pushed down the mineral fuels, lubricants and related materials index in the Philippines by  4.0 percent; Luzon, -3.9 percent; Visayas, -3.4 percent; and Mindanao, -5.5 percent.

    The food index in Luzon fell by 0.5 percent and in the Philippines, -0.3 percent. This was brought about by price cuts in liveweight hogs, eggs, some milk products, ginger, calamansi, selected vegetables and copra meal during the month. On the other hand, price hikes in rice and selected fruits and vegetables pushed up the food index in Mindanao by 0.4 percent. In Visayas, the group’s index rose 0.2 percent as prices of milk, coffee, some fruits and desiccated coconut were on the uptrend.

    Upward adjustments in the prices of bamboo, charcoal, sand, gravel and pebbles raised the crude materials, inedible except fuels index in Luzon by 3.0 percent. In Visayas and Mindanao, prices of items under the crude materials, inedible except fuels index generally remained stable as it had a zero growth. At the national level, the group’s index advanced by 2.6 percent.

    A 1.0 percent increase in chemicals including animal and vegetable oils and fats index in Luzon was due to higher prices of selected industrial chemicals, fertilizers, some medicinal and pharmaceutical preparations, washing and cleaning compounds and other chemical products in the area. However, lower prices of fertilizers in Mindanao pulled down its index by 0.2 percent. In Visayas, movement in the group’s index was zero. These mixed price trends observed in the three areas effected the 0.8 percent growth in the group’s index at the national level.

    Add-ons in the prices of leather products, rubber tires, lumber, plywood, paper products, textile fabrics, cement, glass products, concrete products, G.I. sheets and angle bars pushed up the manufactured goods classified chiefly by materials index in Luzon by 0.8 percent. The group’s index in Visayas also grew by 0.2 percent as prices of plywood and knitted fabrics were on the uptrend. In Mindanao, price hikes in cement and some non-metallic manufactures were offset by the reductions in the prices of plywood and some paper products. Hence, a zero growth was posted in its group’s index in the area. At the national level, the group’s index increased by 0.7 percent.

    Higher prices of selected plumbing and sanitary fixtures, some undergarments, furniture and fixtures and miscellaneous manufactures raised the miscellaneous manufactured articles index in Luzon by 0.4 percent and in Visayas, 0.3 percent. Likewise, a 0.1 percent uptick in its index in Mindanao was brought about by the increments in the prices of selected footwear and miscellaneous manufactures. Thus, the group’s national index grew by 0.4 percent.

    Price gains in some softdrinks resulted to the 3.1 percent growth in beverages and tobacco index in Luzon and in Visayas, 0.3 percent. Upward adjustments in the prices of selected liquors were also seen in Visayas. In Mindanao, no change was noticed in the group’s index during the month. Movement in the group’s index in the Philippines was recorded at 2.5 percent.

    A 0.2 percent monthly growth in the index for machinery and transport equipment in Luzon was attributed to higher prices of some electrical apparatus and appliances in the area. Meanwhile, prices of machinery and transport equipment in Visayas and Mindanao generally remained stable during the month. Hence, the group’s national index inched up 0.1 percent.
     

    Notes:

GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level  are also available upon request at PSA, Industry and Trade Statistics Department, Economic Indices and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).


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