PREVIOUS RELEASE

General Wholesale Price Index (2012=100) : January 2021

Reference Number: 2021-130
Release Date: 23 March 2021

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

Area January 2021 December 2020 January 2020 Year-to-Date
 Philippines 2.1p 2.4 2.9 2.1
 Luzon 2.3p 2.9 3.0 2.3
 Visayas -1.2 -0.8 3.2 -1.2
 Mindanao 2.8p 1.0 1.5 2.8

                                                   p - preliminary
                                                        Source: Survey of Wholesale Prices of Commodities for the GWPI, Philippine Statistics Authority

                                               

Figure 1. Growth Rates of the GWPI by Area, All Items
January 2020 - January 2021
(2012=100)

GWPI

    

1. GWPI at the national level moves up at a slower pace in January 2021

The annual increase of GWPI in the Philippines slowed down to 2.1 percent in January 2021. Its annual rate in the previous month was posted at 2.4 percent and in January 2020, 2.9 percent. (Tables A and 2)

The index of mineral fuels, lubricants and related materials registered an annual decline of -3.6 percent during the month. Moreover, annual hikes decelerated in the indices of food at 2.7 percent; chemicals including animal and vegetable oils and fats, 4.1 percent; and miscellaneous manufactured articles, 0.1 percent.

Meanwhile, the rest of the commodity groups exhibited higher annual upticks during the month. (Table 2)

2. Annual rate of GWPI in Luzon slowly picks up

The annual increment of GWPI in Luzon, likewise, eased to 2.3 percent in January 2021, from an annual rate of 2.9 percent in December 2020. Its annual change in January 2020 was recorded at 3.0 percent. (Tables A and 2)

Annual rate in the index of mineral fuels, lubricants and related materials was at -2.9 percent in January 2021. In addition, annual add-ons slowed down in the indices of food at 3.1 percent; chemicals including animal and vegetable oils and fats, 4.3 percent; and miscellaneous manufactured articles, 0.2 percent.

Meanwhile, other commodity groups had higher annual increases during the month. (Table 2)

3. GWPI in Visayas decreases further this month

The GWPI in Visayas continued to move downward as its annual rate declined further by -1.2 percent in January 2021. In the previous month, its annual rate was noted at -0.8 percent and in January 2020, 3.2 percent. (Tables A and 2)

The annual growth rates decreased in the indices of food at -2.9 percent; crude materials, inedible except fuels, -13.3 percent; and mineral fuels, lubricants and related materials, -15.2 percent. Moreover, a slower annual increase of 0.3 percent was observed in the index of manufactured goods classified chiefly by materials.

On the other hand, the annual growth rate in miscellaneous manufactured articles index inched up by 0.1 percent during the month. The rest of the commodity groups retained their previous month’s annual growth rates. (Table 2)

4. Higher annual increment is noted in the GWPI in Mindanao in January 2021

The annual change of GWPI in Mindanao rose by 2.8 percent in January 2021. Its annual rate in the previous month was 1.0 percent and in January 2020, 1.5 percent. (Tables A and 2)

Annual increases were higher in the indices of the following commdity groups:

          a. Food, 3.7 percent;
          b. Beverages and tobacco, 6.5 percent;
          c. Crude materials, inedible except fuels, 54.6 percent;
          d. Chemicals including animal and vegetable oils and fats, 3.3 percent; and
          e. Machinery and transport equipment, 3.5 percent.

The indices of the other three commodity groups, however, posted annual declines during the month. (Table 2)
 

 

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