PREVIOUS RELEASE

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

Reference Number: 2019-313
Release Date: 31 October 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 : July 2018 - July 2019

YEAR/MONTH
(1)
PHILIPPINES
(2)
LUZON
(3)
VISAYAS
(4)
MINDANAO
(5)
 2019        
 July 1.5p 1.4p 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
 July 1.8 1.6 2.8 4.3

                                              p-preliminary
                                               

 

 

GWPI

 

 

YEAR-ON-YEAR
    

1. Annual rate of change of GWPI at the national level in July 2019 moves up at a slower pace

     The annual increase of GWPI at the national level slowed down to 1.5 percent in July 2019. The annual rate in the previous month was higher at 1.7 percent and in July 2018, 1.8 percent. Annual declines were observed in the indices of crude materials, inedible except fuels at 18.4 percent; mineral fuels, lubricants and related materials, 8.8 percent; and chemicals including animal and vegetable oils and fats, 4.4 percent. Moreover, slower annual gains were noted in the indices of food at 2.7 percent; and manufactured goods classified chiefly by materials, 0.9 percent. Other commodity groups retained their previous month’s annual rates (see Table 1.1).

2. Annual change of GWPI in Luzon in July 2019 slowly picks up

     The annual movement of GWPI in Luzon, likewise, eased to 1.4 percent in July 2019. Its annual rates in the previous month and in July 2018 were both posted at 1.6 percent. Annual decreases were registered in the indices of crude materials, inedible except fuels at 19.5 percent; mineral fuels, lubricants and related materials, 9.9 percent; and chemicals including animal and vegetable oils and fats, 5.0 percent. In addition, annual hikes recorded in the indices of food slowed down to 2.5 percent; and manufactured goods classified chiefly by materials, 1.0 percent.  The rest of the commodity groups retained their previous month’s annual rates (see Table 2.1).

3. Year-on-year change of GWPI in Visayas climbs in July 2019

     The annual rate of change of GWPI in Visayas went up by 2.3 percent in July 2019. In the previous month, its annual rate was recorded at 2.2 percent and in July 2018, 2.8 percent. Annual uptick in food index was higher at 5.3 percent during the month. Meanwhile, annual increases were slower in the indices of beverages and tobacco at 5.3 percent; and chemicals including animal and vegetable oils and fats, 1.1 percent. The annual movements in the indices of crude materials, inedible except fuels; and mineral fuels, lubricants and related materials were still on the downtrend as their rates decreased by 13.3 percent and 1.0 percent, respectively. The rest of the commodity groups retained their previous month’s annual rates (see Table 3.1).

4. Annual increment of GWPI in Mindanao is slower during the month

     The GWPI in Mindanao moves up at a slower pace of 1.2 percent in July 2019. In the previous month, its annual increment was posted at 1.4 percent and in July 2018, 4.3 percent. Annual decreases were seen in the indices of crude materials, inedible except fuels at 5.4 percent; and chemicals including animal and vegetable oils and fats, 1.6 percent. Compared with their annual rates in the previous month, annual hikes were slower in the indices of food at 0.3 percent; and manufactured goods classified chiefly by materials, 1.9 percent. Meanwhile, a higher annual gain of 3.3 percent was noted in the index of mineral fuels, lubricants and related materials. Annual movements in the indices of beverages and tobacco remained at 0.3 percent; machinery and transport equipment, 2.9 percent; and miscellaneous manufactured articles 5.0 percent (see Table 4.1).

 

MONTH-ON-MONTH

1. GWPI at the country level drops during the period

     Measured from a month ago level, the GWPI in the Philippines decreased by 0.1 percent in July 2019. In June 2019, its rate inched up by 0.1 percent. Declines were registered in the indices of the following commodity groups during the month:

  • Food, 0.1 percent;
  • Crude materials, inedible except fuels, 2.0 percent;
  • Chemicals including animal and vegetable oils and fats, 0.5 percent; and
  • Manufactured goods classified chiefly by materials, 0.3 percent.

Moreover, a slower monthly increment of 0.01 percent was recorded in the indices of beverages and tobacco and machinery and transport equipment. Meanwhile, the indices of mineral fuels, lubricants and related materials rose by 1.6 percent, and miscellaneous manufactured articles, 0.1 percent (see Table 1.2).

2. Wholesale prices of food items generally decline during the month

     The food index in Luzon went down by 0.1 percent in July 2019. Prices of liveweight chicken, selected dairy products, and fish in the area were lower during the month. Similarly, the group’s index in Mindanao dropped by 0.7 percent due to the decreases in the prices of hogs, fruits, vegetables, and sugar. In Visayas, the group’s index in the area, however, rose by 0.1 percent due to upward price movements in milk, fish, fruits, and vegetables. The food index for the Philippines fell by 0.1 percent.

3. Crude materials, inedible except fuels index drops this month

     Lower prices of copra pushed down the group’s index of crude materials, inedible except fuels in Luzon and Mindanao by 2.1 percent and 1.6 percent, respectively. Meanwhile, the group’s index in Visayas had a zero growth. At the country level, the group’s index moved downward by 2.0 percent.

4. The index of chemicals including animal and vegetable oils and fats is still on a downtrend during the month

     The index of chemicals including animal and vegetable oils and fats in Luzon went down by 0.6 percent in July 2019 as coconut oil and selected cosmetic and toilet preparations were priced lower during the month. Similarly, the group’s index in Mindanao plunged by 0.1 percent, brought about by the decrease in the price of coconut oil. Meanwhile, the group’s index in Visayas had a zero growth. The group’s index at the national level sank by 0.5 percent.

5. Wholesale prices of selected manufactured goods classified chiefly by materials decrease during the period

     The index of manufactured goods classified chiefly by materials in Luzon fell by 0.3 percent. Lower prices of selected paper products, textile fashion bags, selected non-metallic mineral manufactures, and G.I. pipes were noted during the month. On the other hand, the group’s index in Mindanao went up by 0.1 percent. This was effected by the upward movement in the price of G.I. pipe. The group’s index in Visayas, however, had a zero growth. At the country level, the group’s index dropped by 0.3 percent.

6. Beverages and tobacco index picks up in July 2019

     Higher prices of bottled drinking water slightly raised the index of beverages and tobacco in Luzon by 0.01 percent. Similarly, the group’s index in Mindanao increased by 0.01 percent, brought about by the increase in the price of gin. On the other hand, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index rose by 0.01 percent.

7. Wholesale prices of petroleum products are higher during the month

    Price hikes in petroleum products pushed up the indices of mineral fuels, lubricants and related materials in Luzon by 1.7 percent; Visayas, 0.1 percent; and Mindanao, 2.4 percent. For the Philippines, the group’s index moved upward by 1.6 percent.

8. Machinery and transport equipment index increases during the month

     The machinery and transport equipment index in Luzon inched up by 0.01 percent due to higher prices of selected current-carrying wiring devices. Meanwhile, the group’s index in Visayas and Mindanao had a zero growth. For the Philippines, the group’s index increased by 0.01 percent.

9. Miscellaneous manufactured articles index moves upward

     The index of miscellaneous manufactured articles in Luzon inched up by 0.1 percent as prices of sporting and athletic goods were higher during the month. In Mindanao, the group’s index rose by 0.01 percent due to uptick in the price of paper clip. On the other hand, the group’s index in Visayas had a zero growth. For the Philippines, the group’s index went up by 0.1 percent (see Tables 1.2, 2.2, 3.2 and 4.2).

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