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

Reference Number: 2022-158
Release Date: 20 April 2022

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

Area January 2021 December 2021 January 2022p Year-to-Date*
 Philippines 2.1 4.1 4.6 4.6
 Luzon 2.3 4.1 4.7 4.7
 Visayas -1.2 2.2 3.2 3.2
 Mindanao 2.8 5.0 4.2 4.2

                                                        p - preliminary
                                                        * Year-on-year change of average GWPI for January to January, 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
January 2021 - January 2022
(2012=100)

GWPI

    

1. GWPI for the Philippines further increased in January 2022

The annual growth rate of GWPI at the national level went up to 4.6 percent in January 2022, from 4.1 percent in December 2021. Its annual change in January 2021 was recorded at 2.1 percent. (Tables A and 2)

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

          a. Food, 3.9 percent;
          b. Crude materials, inedible except fuels, 16.3 percent;
          c. Mineral fuels, lubricants and related materials, 30.5 percent;
          d. Chemicals including animal and vegetable oils and fats, 4.4 percent;
          e. Manufactured goods classified chiefly by materials, 6.4 percent; and
          f.  Miscellaneous manufactured articles; 0.8 percent.

On the other hand, annual hikes slowed down in the indices of beverages and tobacco at 4.4 percent; and machinery and transport equipment at 1.2 percent. (Table 2)

2. GWPI in Luzon also increased during the month

Similar with the trend of the national level, the annual growth rate of GWPI in Luzon moved up at a faster pace of 4.7 percent in January 2022, from 4.1 percent in December 2021. Annual growth rate in January 2021 was lower at 2.3 percent. (Tables A and 2)

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

          a. Food, 3.7 percent;
          b. Crude materials, inedible except fuels, 17.8 percent;
          c. Mineral fuels, lubricants and related materials, 32.0 percent;
          d. Chemicals including animal and vegetable oils and fats, 4.7 percent; and
          e. Miscellaneous manufactured articles, 0.6 percent.

On the other hand, annual increases eased in the indices of beverages and tobacco at 4.0 percent; and machinery and transport equipment at 1.3 percent.

Meanwhile, the same annual growth rate in the previous month was recorded in the index of manufactured goods classified chiefly by materials at 7.1 percent.

3. Higher annual increment was recorded in the GWPI in Visayas in January 2022

The annual change of GWPI in Visayas rose to 3.2 percent in January 2022, from 2.2 percent in the previous month. Its annual rate was observed at -1.2 percent in January 2021. (Tables A and 2)

Higher annual increases were noted in the indices of the following commodity groups during the month:

          a. Food, 5.1 percent;
          b. Beverages and tobacco, 8.1 percent;
          c. Mineral fuels, lubricants and related materials, 22.3 percent;
          d. Manufactured goods classified chiefly by materials, 0.4 percent; and
          e. Miscellaneous manufactured articles, 3.3 percent.

Similarly, the annual rate of the index of machinery and transport equipment accelerated to 0.4 percent during the month, from a zero percent annual growth in the previous month.

In addition, an annual decrease of -0.5 percent recorded in the index of chemicals including animal and vegetable oils and fats was lower compared with its previous month’s annual decline of -0.7 percent.

The index of crude materials, inedible except fuels retained its previous month’s annual growth rate of 0.4 percent.

4. GWPI in Mindanao picked up at a slower rate during the period

The annual increase of GWPI in Mindanao slid to 4.2 percent in January 2022, from 5.0 percent in December 2021. Its annual rate in January 2021 was registered at 2.8 percent. (Tables A and 2)

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

          a. Food, 5.8 percent;
          b. Crude materials, inedible except fuels, 6.8 percent;
          c. Chemicals including animal and vegetable oils and fats, 6.2 percent; and
          d. Machinery and transport equipment, 0.6 percent.

On the other hand, annual upticks were higher in the indices of the following commodity groups:

          a. Beverages and tobacco, 7.2 percent;
          b. Mineral fuels, lubricants and related materials, 13.6 percent;
          c. Manufactured goods classified chiefly by materials, 1.7 percent; and
          d. Miscellaneous manufactured articles, 2.2 percent.
 

 

 

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