PREVIOUS RELEASE

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

Reference Number: 2019-016
Release Date: 11 January 2019

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

Year-on-Year Changes in Percent of General Wholesale Price Index (GWPI) for
All Items (October 2017 - October 2018)

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2018        
 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
  October 3.6 3.6 3.9 4.1

                                              
                                               

 

 

GWPI

 

 

• Year-on-Year
    

1. Annual increment of the GWPI at the national level decelerates

     The annual increase of GWPI at the national level slowed down to 8.5 percent in October 2018. In the previous month, the annual rate was pegged at 9.6 percent and in October 2017, 3.6 percent. The annual movement in crude materials, inedible except fuels index dropped by 19.0 percent. Moreover, slower annual gains were noted in the indices of food at 2.3 percent, and mineral fuels, lubricants and related materials, 35.1 percent. Meanwhile, annual add-ons were higher in the indices of beverages and tobacco at 18.0 percent; chemicals including animal and vegetable oils and fats, 1.1 percent; and manufactured goods classified chiefly by materials, 2.5 percent. Annual changes in the indices of machinery and transport equipment, and miscellaneous manufactured remained at 1.9 percent and 1.7 percent, respectively (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 9.0 percent in October 2018. Its annual change in September 2018 was posted at 10.0 percent and in October 2017, 3.6 percent. Annual declines were registered in the indices of crude materials, inedible except fuels at 20.4 percent, and chemicals including animal and vegetable oils and fats at 0.1 percent. Moreover, annual hikes recorded in the indices of food slowed to 2.0 percent, and mineral fuels, lubricants and related materials, 36.1 percent. Meanwhile, higher annual mark-ups were noted in the indices of beverages and tobacco at 16.9 percent, and manufactured goods classified chiefly by materials, 2.3 percent. Annual movements in the indices of machinery and transport equipment remained at   2.2 percent, and miscellaneous manufactured articles at 1.7 percent (see Table 2.1).

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

     The annual hike of GWPI in Visayas decelerated to 6.8 percent in October 2018. Its annual growth in the previous month was pegged at 7.6 percent and in October 2017, 3.9 percent. The slowdown was primarily due to the 12.8 percent annual decline in crude materials, inedible except fuels index. Moreover, annual increases were slower in the indices of food at 3.0 percent, and beverages and tobacco at 17.2 percent. On the other hand, higher annual rates were observed in the indices of mineral fuels, lubricants and related materials at 31.1 percent; chemicals including animal and vegetable oils and fats, 8.7 percent; and manufactured goods classified chiefly by materials, 1.2 percent. 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 6.2 percent in October 2018. In the previous month, its annual rate was posted at 8.2 percent and in October 2017, 4.1 percent. An annual drop of 1.9 percent was registered in the index of crude materials, inedible except fuels. Compared with their annual rates in the previous month, slower annual increases were observed in the indices of the following commodity groups:

  • Food, (4.0%);
  • Beverages and Tobacco, (25.9%);
  • Chemicals Including Animal and Vegetable Oils and Fats (3.0%); and
  • Miscellaneous Manufactured Articles, (2.7%)

     On the contrary, annual gain in the index of mineral fuels, lubricants and related materials was higher at 20.1 percent; and in manufactured goods classified chiefly by materials index at 4.3 percent. The machinery and transport equipment index retained its previous month’s rate of 1.4 percent (see Table 4.1).

 

• Month-on-Month

1. GWPI at the country level generally picks up at lower rate during the period

     On a monthly basis, the rate of increase of GWPI at the national level eased to 0.2 percent in October 2018. In September 2018, its monthly rate was registered at 1.3 percent. The indices of the following commodity groups declined during the month:

  • Food, (1.1%);
  • Crude Materials, Inedible Except Fuels, (2.5%);
  • Machinery and Transport Equipment, (0.03%); and
  • Miscellaneous Manufactured Articles, (0.001%).

     Moreover, upticks in the indices of mineral fuels, lubricants and related materials slowed down to 2.2 percent; and chemicals including animal and vegetable oils and fats, 0.03 percent. On the other hand, the index of beverages and tobacco moved up at a faster pace of 2.6 percent. Similarly, the index of manufactured goods classified chiefly by materials inched up by 0.2 percent from a decline of 0.4 percent in the previous month (see Table 1.2).

2. Wholesale prices of petroleum products increase at lower rates during the period

     Compared with the previous month, increments in the index for mineral fuels, lubricants and related materials rose by 2.2 percent in Luzon; by 3.4 percent in Visayas; and by 0.4 percent in Mindanao. This was due to the price hikes recorded in crude petroleum oil, gasoline, kerosene, diesel oil, bunker fuel oil, and LPG. At the national level, the group’s index went up by 2.2 percent.

3. Beverages and tobacco index picks up in during the month

     Price gains in liquors, softdrinks and cigarettes effected the 3.4 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of liquors were also higher during the month. Hence, the group’s index in the area inched up by 0.02 percent. Moreover, increases in the prices of cigarettes pushed up the group’s index in Mindanao by 0.03 percent. For the Philippines, the group’s index rose by 2.6 percent.

4. Manufactured goods classified chiefly by materials index moves upward

     The index of manufactured goods classified chiefly by materials in Luzon went up by 0.2 percent due to the increments in the prices of lumber, plywood, hollow blocks, concrete pipe, jalousie glass, marble chips, G.I. sheets and barbed wire. Meanwhile, higher prices in selected glass and glass products, and glazed tile in Visayas resulted to a 0.1 percent growth in its group’s index. In Mindanao, the group’s index, likewise, rose by 0.05 percent. This can be attributed to higher prices of paper and selected paper products. The group’s index at the country level recorded an increase of 0.2 percent.

5. Chemicals including animal and vegetable oils and fats index posts minimal growth

     A 0.4 percent uptick in chemicals including animal and vegetable oils and fats index in Visayas was brought about by higher prices of fertilizers and vulcanizing cement. Decreases in the prices of coconut oil and selected laundry soap, however, pushed down the group’s index in Luzon by 0.01 percent. Meanwhile, the group’s index in Mindanao had a zero growth. For the Philippines, the group’s index inched up by 0.03 percent.

6. Index of crude materials, inedible expect fuels drops during the period

     The index of crude materials, inedible except fuels fell by 2.6 percent in Luzon and by 3.8 percent in Visayas. Prices of copra in these areas 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 2.5 percent.

7. Food index declines during the month

     The food index in Luzon went down by 0.8 percent as vegetables, unprocessed animal feeds, vetsin and vinegar were priced lower during the month. Similarly, the group’s index in Visayas plunged by 1.2 percent, brought about by the decreases in the prices of fish, vegetables, margarine and starch. In Mindanao, prices of liveweight hogs, eggs, fish, unmilled corn, rice, cereal preparations, vegetables and sugar decreased during the month. Thus, the food index in the area fell by 2.4 percent. The group’s index at the national level sank by 1.1 percent.

8. Machinery and transport equipment index for Luzon decreases

     The machinery and transport equipment index in Luzon went down by 0.04 percent as prices of selected electrical wire were lower during the period. Meanwhile, the group’s index in Visayas and Mindanao had zero growth. For the Philippines, the group’s index declined by 0.03 percent.

9. Miscellaneous manufactured articles index generally shrinks during the month

     The index of miscellaneous manufactured articles in Mindanao fell by 0.01 percent, brought about by lower prices of selected office supplies. On the other hand, the group’s index in Luzon and Visayas had zero growth. For the Philippines, the increase in the group’s index decelerated to 0.001 percent. (see Tables 1.2, 2.2, 3.2 and 4.2).

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