PREVIOUS RELEASE

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

Reference Number: 2021-401
Release Date: 23 September 2021

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

Area July 2020 June 2021 July 2021 Year-to-Date*
 Philippines 2.7 2.2 2.9 2.6
 Luzon 3.0 2.1 3.0 2.7
 Visayas 0.8 0.4 0.6 -0.1
 Mindanao 1.7 4.8 4.4 4.3

                                                       * Year-on-year change of average GWPI for January to July, 2021 vs. 2020
                                                        Source: Survey of Wholesale Prices of Commodities for the GWPI, Philippine Statistics Authority

                                               

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

GWPI

    

1. GWPI for the Philippines picked up in July 2021

The annual growth rate of GWPI at the national level went up to 2.9 percent in July 2021, from 2.2 percent in June 2021. Its annual change in July 2020 was recorded at 2.7 percent. (Tables A and 2)

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

  • Food, 1.2 percent;
  • Beverages and tobacco, 4.3 percent;
  • Mineral fuels, lubricants and related materials, 18.2 percent; and
  • Manufactured goods classified chiefly by materials, 3.9 percent.

On the other hand, annual hikes slowed down in the indices of crude materials, inedible except fuels at 38.5 percent; chemicals including animal and vegetable oils and fats, 5.3 percent; and miscellaneous manufactured articles, 0.3 percent.

The index of machinery and transport equipment remained at its previous month’s annual rate of 0.9 percent. (Table 2)

2. GWPI in Luzon also increased this month

Similar with the trend of the national level, the annual growth rate of GWPI in Luzon moved up at a faster pace of 3.0 percent in July 2021, which was the same rate as that of July 2020.  Annual growth rate in June 2021 was lower at 2.1 percent. (Tables A and 2)

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

  • Food, 1.0 percent;
  • Beverages and tobacco, 4.2 percent;
  • Mineral fuels, lubricants and related materials, 19.6 percent; and
  • Manufactured goods classified chiefly by materials, 4.4 percent.

On the other hand, annual increases eased in the indices of crude material, inedible except fuels at 40.8 percent; chemicals including animal and vegetable oils and fats, 5.8 percent; and miscellaneous manufactured articles, 0.1 percent.

The index of machinery and transport equipment retained its previous month’s annual rate of 0.9 percent. (Table 2)

3. Higher annual increment was noted in the GWPI in Visayas in July 2021

The annual change of GWPI in Visayas rose by 0.6 percent in July 2021, from 0.4 percent in the previous month. Its annual rate was observed at 0.8 percent in July 2020. (Tables A and 2)

A higher annual increase of 4.8 percent was noted in the index of mineral fuels, lubricants, and related materials during the month. Similarly, the annual rate of the index of miscellaneous manufactured articles accelerated to 4.2 percent during the month, from a zero percent annual growth in the previous month.

In addition, the annual decrease of -1.1 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 -1.5 percent.

On the other hand, annual hike decelerated in the index of food at 0.1 percent. Moreover, the index of manufactured goods classified chiefly by materials dropped by -0.1 percent during the month.

The indices of the rest of the commodity groups remained at their previous month’s annual growth rates or had a zero percent annual growth rate during the month. (Table 2)

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

The annual increase of GWPI in Mindanao slid to 4.4 percent in July 2021, from 4.8 percent in June 2021. Its annual rate in July 2020 was registered at 1.7 percent. (Tables A and 2)

The annual hike decelerated in the index of food at 6.7 percent during the month, from 7.7 percent in the previous month.

On the other hand, annual upticks were higher in the indices of crude materials, inedible except fuels at 45.6 percent; mineral fuels, lubricants, and related materials, 7.2 percent; and chemicals including animal and vegetable oils and fats, 5.1 percent.

The indices of the rest of the commodity groups retained their previous month’s annual growth rates. (Table 2)

 

 

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