General Wholesale Price Index (2012=100) : February 2022

Reference Number: 2022-163
Release Date: 29 April 2022

Table A. Year-on-Year Growth Rates of the GWPI by Area, All Items
in Percent
(2012=100)

Area February 2021 January 2022 February 2022p Year-to-Date*
 Philippines 2.5 4.6 5.6 5.1
 Luzon 2.8 4.7 5.9 5.3
 Visayas -1.2 3.2 3.5 3.4
 Mindanao 4.5 4.2 3.2 3.7

                                                        p - preliminary
                                                        * Year-on-year change of average GWPI for February to February, 2022 vs. 2021
                                                        Source: Survey of Wholesale Prices of Commodities for the GWPI, Philippine Statistics Authority

                                               

Figure 1. Annual Growth Rates of the GWPI by Area, All Items
February 2021 - February 2022
(2012=100)

GWPI

    

1. GWPI at the national level picked up in February 2022

On an annual basis, the GWPI at the national level went up at a faster pace of 5.6 percent in February 2022, from 4.6 percent in the previous month. Its annual rate in February 2021 was recorded at 2.5 percent. (Tables A and 2)

Higher annual upticks were seen in the indices of the following commodity groups during the month:

          a. Food, 4.9 percent;
          b. Crude materials, inedible except fuels, 26.7 percent;
          c. Mineral fuels, lubricants and related materials, 37.7 percent;
          d. Chemicals including animal and vegetable oils and fats, 6.1 percent;
          e. Manufactured goods classified chiefly by materials, 6.6 percent;
          f.  Machinery and transport equipment, 1.9 percent; and
          g. Miscellaneous manufactured articles, 0.9 percent.

On the other hand, annual hike slowed down in the index of beverages and tobacco at 4.1 percent. (Table 2)

2. GWPI in Luzon moved up further in February 2022

The annual growth rate of GWPI in Luzon climbed further to 5.9 percent in February 2022, from 4.7 percent in January 2022. In February 2021, its annual rate was observed at 2.8 percent. (Tables A and 2)

Annual increments were higher in the indices of the following commodity groups during the month:

          a. Food, 4.9 percent;
          b. Crude materials, inedible except fuels, 29.3 percent;
          c. Mineral fuels, lubricants and related materials, 40.0 percent;
          d. Chemicals including animal and vegetable oils and fats, 6.5 percent;
          e. Manufactured goods classified chiefly by materials, 7.3 percent;
          f.  Machinery and transport equipment, 2.1 percent; and
          g. Miscellaneous manufactured articles, 0.7 percent.

Meanwhile, annual increase was slower in the index of beverages and tobacco at 3.7 percent. (Table 2)

3. GWPI in Visayas also went up in February 2022

The year-on-year change of GWPI in Visayas rose to 3.5 percent in February 2022, from 3.2 percent in the previous month. Its annual rate in February 2021 was observed at -1.2 percent. (Tables A and 2)

Annual hikes were higher in the indices of food; and mineral fuels, lubricants and related materials at 5.8 percent and 24.6 percent, respectively.

On the contrary, an annual decrease of -0.5 percent was still recorded in the index of chemicals including animal and vegetable oils and fats, while the indices of the rest of the commodity groups retained their previous month’s annual growth rates. (Table 2)

4. Annual increment of GWPI in Mindanao eased during the month

The annual growth rate of GWPI in Mindanao slid to 3.2 percent in February 2022, from 4.2 percent in January 2022. Its annual growth rate in February 2021 was noted at 4.5 percent. (Tables A and 2)

The annual hikes slipped in the indices of the following commodity groups during the month:

          a. Food, 3.7 percent;
          b. Beverages and tobacco, 5.0 percent;
          c. Crude materials, inedible except fuels, 6.3 percent;
          d. Mineral fuels, lubricants and related materials, 9.1 percent; and
          e. Miscellaneous manufactured articles, 2.1 percent.

On the other hand, annual growth rates in the indices of chemicals including animal and vegetable oils and fats; and machinery and transport equipment went up at 6.4 percent and 0.7 percent, respectively.

The index of manufactured goods classified chiefly by materials retained its previous month’s annual growth rate at 1.7 percent. (Table 2)
 

 

 

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