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

Reference Number: 2020-061
Release Date: 13 February 2020

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

DECEMBER 2019

Table A. Year-on-Year Changes of GWPI, in Percent
(2012=100)

Area December 2019 November 2019 December 2018 Year-to-Date
 Philippines 3.1 2.3 1.3 1.6
 Luzon 3.0 2.1 1.2 1.6
 Visayas 2.9 3.1 2.2 2.2
 Mindanao 3.0 1.5 3.6 1.9

                                     
                                               

Figure 1. Year-on-Year Changes of GWPI for All Items by Area, in Percent
December 2018 - December 2019
(2012=100)

GWPI

    

1. Higher annual increment of GWPI at the national level is noted in December 2019

     The year-on-year change of GWPI at the country level climbed by 3.1 percent in December 2019. In the previous month, the annual rate was 2.3 percent and in December 2018, 1.3 percent. (Table A and Table 2)

     Higher annual growth rates were observed in the indices of food at 4.3 percent; crude materials, inedible except fuels, 10.8 percent; and manufactured goods classified chiefly by materials, 4.6 percent. In addition, the index of mineral fuels, lubricants and related materials rose by 3.2 percent from an annual drop of 9.9 percent in the previous month. On the other hand, slower annual increases were registered in the indices of beverages and tobacco, and machinery and equipment at 11.8 percent and 2.1 percent, respectively. The indices of chemicals including animal and vegetable oils and fats, and miscellaneous manufactured articles correspondingly posted annual decreases of 3.8 percent and 2.0 percent.

2. The average annual change of GWPI at the national level for the year 2019 moves downward

     The average annual growth rate of GWPI at the national level slowed down to 1.6 percent in 2019 compared with its average annual increment of 1.9 percent in 2018.

     The average annual rates of increase in the indices of crude materials, inedible except fuels declined by 18.3 percent; mineral fuels, lubricants and related materials, 7.2 percent; and chemicals including animal and vegetable oils and fats, 3.1 percent. Contributing also to the downtrend was a slower average annual increase of 0.7 percent in the index of manufactured goods classified chiefly by materials. Meanwhile, higher average annual increments were registered in the indices of the following commodity groups:

  • Food, 2.9 percent;
  • Beverages and tobacco, 12.2 percent;
  • Machinery and transport equipment, 2.5 percent; and
  • Miscellaneous manufactured articles, 1.9 percent. (Table 2)

3. Annual rate of increase of GWPI in Luzon during the month is faster than previous month

     The annual growth rate of GWPI in Luzon, likewise, accelerated by 3.0 percent in December 2019. Its annual rate of change in November 2019 was posted at 2.1 percent and in December 2018, 1.2 percent. (Table A and Table 2)

     Annual add-ons were higher in the indices of food at 4.3 percent; crude materials, inedible except fuels, 12.4 percent; and manufactured goods classified chiefly by materials, 5.0 percent. Moreover, the index of mineral fuels, lubricants and related materials picked up by 3.3 percent, from -11.1 percent in November 2019. Meanwhile, annual gains decelerated in the indices of beverages and tobacco at 11.7 percent, and machinery and transport equipment, 2.2 percent. Annual movements in the indices of chemicals including animal and vegetable oils and fats, and miscellaneous manufactured articles dropped by 4.0 percent and 2.6 percent, respectively.

4. GWPI in Luzon exhibits lower average annual rate in 2019

     The average annual mark-up of GWPI in Luzon eased to 1.6 percent from 1.8 percent in 2018.

     Negative average annual rates of increase were recorded in the indices of crude materials, inedible except fuels at 19.4 percent; mineral fuels, lubricants and related materials, 8.3 percent; and chemicals including animal and vegetable oils and fats, 3.5 percent. A slower average annual rate of 0.6 percent was also seen in the index of manufactured goods classified chiefly by materials. On the other hand, higher average annual growth rates were registered in the indices of the following commodity groups:

  • Food, 2.8 percent;
  • Beverages and tobacco, 13.2 percent;
  • Machinery and transport equipment, 2.6 percent; and
  • Miscellaneous manufactured articles, 1.9 percent.

(Table 2)

5. Annual growth rate of GWPI in Visayas moves up at a slower pace

     In Visayas, the annual increase in GWPI was slower at 2.9 percent. Its annual change in the previous month was noted at 3.1 percent and in December 2018, 2.2 percent. (Table A and Table 2)

     Annual movements continued to decline in the indices of the following commodity groups:

  • Crude materials, inedible except fuels, 2.5 percent;
  • Mineral fuels, lubricants and related materials, 1.6 percent;
  • Chemicals including animal and vegetable oils and fats, 1.2 percent; and
  • Manufactured goods classified chiefly by materials, 0.3 percent.

Moreover, the annual increment in food index slowed down to 5.9 percent. The rest of the commodity groups retained their previous month’s annual growth rates.

6. Average annual growth rate of GWPI in Visayas is slower in 2019

     The average annual growth rate of GWPI in Visayas, likewise, slid to 2.2 percent in 2019, from 2.6 percent in 2018.

     Average annual rates in the indices of crude materials, inedible except fuels decreased by 14.5; mineral fuels, lubricants and related materials, 0.3 percent; and manufactured goods classified chiefly by materials, 0.01 percent. In addition, the average annual hikes decelerated in the indices of the following commodity groups:

  • Beverages and tobacco, 8.1 percent;
  • Chemicals including animal and vegetable oils and fats, 1.1 percent;
  • Machinery and transport equipment; 0.2 percent; and
  • Miscellaneous manufactured articles, 0.01 percent.

On the contrary, the annual growth rate of food index was higher at 4.6 percent during the month. (Table 2)

7. Annual movement of GWPI in Mindanao picks up further this month

     The annual change of GWPI in Mindanao rose further by 3.0 percent in December 2019. Its annual growth rate in November 2019 was recorded at 1.5 percent and in December 2018, 2.6 percent. (Table A and Table 2)

     Higher annual rates of increases were seen in the indices of the following commodity groups:

  • Food, 2.8 percent;
  • Beverages and tobacco, 7.7 percent;
  • Crude materials, inedible except fuels, 1.1 percent;
  • Mineral fuels, lubricants and related materials, 9.5 percent;
  • Manufactured goods classified chiefly by materials, 3.1 percent; and
  • Miscellaneous manufactured articles, 4.8 percent.

Meanwhile, a 1.5 percent annual drop was posted in chemicals including animal and vegetable oils and fats index during the month. The machinery and transport equipment index retained its previous month’s annual rate of 2.9 percent.

8. Average annual growth rate of GWPI in Mindanao slowly picks up in 2019

     The average annual mark-up of GWPI in Mindanao slipped to 1.9 percent in 2019, from 4.1 percent in 2018.

     The slowdown was effected by the 3.1 percent average annual decline in crude materials, inedible except fuels index. Similarly, the average annual rate of chemicals including animal and vegetable oils and fats index went down by 0.6 percent. Lower average annual increments were also noted in the indices of the following commodity groups:

  • Food, 0.9 percent;
  • Beverages and tobacco, 2.3 percent;
  • Mineral fuels, lubricants and related materials, 5.2 percent; and
  • Manufactured goods classified chiefly by materials, 2.5 percent.

Higher average annual growth rates, were, however, noticed in the indices of machinery and transport equipment at 3.0 percent, and miscellaneous manufactured articles at 5.0 percent. (Table 2)

 

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