PREVIOUS RELEASE

General Wholesale Price Index (2012=100) : August 2019

Reference Number: 2019-352
Release Date: 13 December 2019

GENERAL WHOLESALE PRICE INDEX (GWPI)
(2012=100)

Year-on-Year Changes of General Wholesale Price Index (GWPI) for All Items
by Area, in Percent : August 2018 - August 2019

YEAR/MONTH
(1)
PHILIPPINES
(2)
LUZON
(3)
VISAYAS
(4)
MINDANAO
(5)
 2019        
 August 1.7p 1.8p 2.1 1.0
 July 1.5 1.4 2.3 1.2
 June 1.7 1.6 2.2 1.4
 May 1.2 0.9 2.4 2.2
 April 1.1 1.1 1.8 2.2
 March 1.1 0.9 1.8 2.5
 February 0.8 0.7 1.6 2.1
 January 1.3 1.1 2.1 3.1
 2018 1.9 1.8 2.6 4.1
 December 1.3 1.2 2.2 2.6
 November 1.9 1.9 2.3 3.3
 October 2.2 2.1 2.9 3.9
 September 2.2 1.9 2.8 4.6
 August 2.1 1.9 2.9 4.3

                                              p-preliminary
                                               

 

 

GWPI

 

 

YEAR-ON-YEAR
    

1. Higher annual increment of GWPI at the national level is noted during the month

     The year-on-year change of GWPI at the country level picked up by 1.7 percent in August 2019. In the previous month, the annual rate was posted at 1.5 percent and in August 2018, 2.1 percent. Higher annual mark-ups were observed in the indices of food at 3.2 percent; and miscellaneous manufactured articles, 1.6 percent. On the other hand, a slower annual gain of 13.5 percent was noted in the index of beverages and tobacco. Annual declines were noted in the indices of crude materials, inedible except fuels at 18.5 percent; mineral fuels, lubricants and related materials, 9.6 percent; and chemicals including animal and vegetable oils and fats, 4.3 percent. The indices of manufactured goods classified chiefly by materials, and machinery and transport equipment retained their previous month’s annual rates of 0.9 percent and 3.0 percent, respectively (see Table 1.1).

2. Annual change of GWPI in Luzon rises this month

     Following the same trend at the national level, the annual rate of GWPI in Luzon accelerated by 1.8 percent in August 2019. Its annual change in July 2019 was posted at 1.4 percent and in August 2018, 1.9 percent. Annual add-ons were higher in the indices of food at 3.2 percent; machinery and transport equipment, 3.3 percent; and miscellaneous manufactured articles, 1.6 percent. Meanwhile, annual increases decelerated in the index of beverages and tobacco at 15.2 percent. Annual decreases were still noticed in the indices of crude materials, inedible except fuels at 19.7 percent; mineral fuels, lubricants and related materials, 10.8 percent; and chemicals including animal and vegetable oils and fats, 4.8 percent. The index of manufactured goods classified chiefly by materials retained its previous month’s annual rate of 1.0 percent (see Table 2.1).

3. Annual increment of GWPI in Visayas is slower during the month

     The GWPI in Visayas moved up at a slower pace of 2.1 percent in August 2019. In the previous month, its annual rate was posted at 2.3 percent and in August 2018, 2.9 percent. Annual decreases were seen in the indices of crude materials, inedible except fuels at 12.5 percent; mineral fuels, lubricants and related materials, 0.7 percent; and machinery and transport equipment, 0.03 percent. Moreover, compared with their annual rates in the previous month, annual hikes slowed down in the indices of food, and beverages and tobacco at 4.8 percent and 4.6 percent, respectively. Meanwhile, from a zero growth in the previous month, the annual rates in the indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles inched up correspondingly by 0.02 percent and 0.04 percent. Annual movement of chemicals including animal and vegetable oils and fats index remained at 1.1 percent (see Table 3.1).

4. Annual rate of GWPI in Mindanao, likewise, eases during the period in review

     The annual gain of GWPI in Mindanao slid by 1.0 percent in August 2019. In the previous month, its annual uptick was higher at 1.2 percent and in August 2018, 4.3 percent. The indices of crude materials, inedible except fuels; and chemicals including animal and vegetable oils and fats exhibited annual declines of 5.4 percent and 1.7 percent, respectively. Compared with their annual growths in the previous month, annual hikes were slower in the indices of food at 0.01 percent; mineral fuels, lubricants and related materials, 2.4 percent; and miscellaneous manufactured articles, 4.9 percent. The rest of the commodity groups retained their previous month’s annual rates (see Table 4.1).
 

MONTH-ON-MONTH

1. GWPI at the country level increases this month

     On a monthly basis, GWPI at the national level moved upward by 0.4 percent in August 2019 from a 0.1 percent drop in the previous month. From a zero growth in the previous month, the indices of beverages and tobacco went up by 1.4 percent; and machinery and transport equipment, 0.2 percent. Moreover, the increment in the index of miscellaneous manufactured articles was higher at 0.3 percent. After registering declines in the previous month, the indices of food increased by 0.9 percent; crude materials, inedible except fuels, 1.2 percent; and manufactured goods classified chiefly by materials, 0.1 percent. On the other hand, declines were observed in the indices of mineral fuels lubricants and related materials at 0.8 percent and chemicals including animal and vegetable oils and fats at 0.001 percent (see Table 1.2).

2. Wholesale prices of food items pick up during the month

     The food index in Luzon rose by 1.0 percent in August 2019. This was brought about by higher prices of selected food items such as chicken, eggs, selected canned meat products, milk, fish, fruits, vegetables, and sugar. Similarly, the group’s index in Visayas went up by 0.3 percent due to the increases in the prices of chicken, pork, milk, cheese, and fish. In Mindanao, prices of fish and cupcakes went up during the period. Thus, the food index in the area inched up by 0.03 percent. The group’s index at the national level climbed by 0.9 percent.

3. Miscellaneous manufactured articles index moves upward during the month

     The index of miscellaneous manufactured articles in Luzon picked up by 0.4 percent as prices of metal sink, computer tables, selected ready-made garments, photographic goods, sporting and athletic goods, office and school supplies, and candles were higher during the month. On the other hand, the group’s index in Visayas and Mindanao had a zero growth. For the Philippines, the group’s index went up by 0.3 percent.

4. Manufactured goods classified chiefly by materials index posts a minimal increment this month

     The index of manufactured goods classified chiefly by materials in Luzon inched up by 0.1 percent as rubber tube, tiles, and G.I. sheets were priced higher during the month. In Visayas, the group’s index, likewise, went up by 0.01 percent. This was due to the increase in the price of lockset. The group’s index in Mindanao, however, had a zero growth. At the country level, the group’s index went up by 0.1 percent.

5. Crude materials, inedible except fuels index picks up during the month

     Higher prices of copra, charcoal, and white sand raised the index of crude materials, inedible except fuels in Luzon by 1.4 percent in August 2019. On the other hand, the price of copra went down in Visayas. Thus, the group’s index in the area dropped by 0.1 percent. Meanwhile, the group’s index in Mindanao had a zero growth. At the national level, the group’s index moved upward by 1.2 percent.

6. Machinery and transport equipment index increases during the month

     The machinery and transport equipment index in Luzon rose by 0.3 percent this month. This can be attributed to higher prices of television, batteries, fluorescent tube, insulated electrical wire, and electric fan. Meanwhile, the group’s index in Visayas and Mindanao had a zero growth. For the Philippines, the group’s index inched up by 0.2 percent.

7. Beverages and tobacco index climbs during the month

    Higher prices of alcoholic liquors and wine pushed up the index of beverages and tobacco in Luzon by 1.7 percent. Likewise, the group’s index in Mindanao went up by 0.1 percent due to increment in the price of bottled drinking water. On the other hand, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index picked up by 1.4 percent.

8. Mixed movements are also noted in the index of chemicals including animal and vegetable oils and fats

     The index of chemicals including animal and vegetable oils and fats in Mindanao went down by 0.1 percent in August 2019 as coconut oil was priced lower during the month. On the contrary, the group’s index in Luzon picked up by 0.1 percent due to higher prices of plastic products, basic industrial chemicals, selected medicinal and pharmaceuticals preparations, and cosmetic and toilet preparations. Similarly, the group’s index in Visayas slightly went up by 0.02 percent which was brought about by the increments in the prices of paint, medicinal and pharmaceuticals preparations, and vulcanizing cement. The group’s index at the national level sank by 0.001 percent.

9. Wholesale prices of petroleum products move downward

     Price decreases in petroleum products such as crude petroleum oil, gasoline, diesel, kerosene, bunker fuel oil, and LPG in Luzon resulted to a 0.9 percent drop in the index of mineral fuels, lubricants and related materials. On the other hand, the group’s index in Visayas gained by 0.6 percent which was brought about by higher prices of diesel oil and bunker fuel oil. Meanwhile, the group’s index in Mindanao had a zero growth. For the Philippines, the group’s index declined by 0.8 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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