PREVIOUS RELEASE

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

Reference Number: 2021-359
Release Date: 17 September 2021

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

Area June 2020 May 2021 June 2021 Year-to-Date*
 Philippines 2.5 2.8 2.2p 2.5
 Luzon 2.8 3.0 2.1 2.7
 Visayas 0.8 0.8 0.4p -0.2
 Mindanao 1.6 4.2 4.8 4.3

                                                   p - preliminary
                                                       * Year-on-year change of average GWPI for January to June, 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
June 2020 - June 2021
(2012=100)

GWPI

    

1. GWPI at the national level moved up at a slower pace during the month

The annual increase of GWPI at the country level slowed down to 2.2 percent in June 2021. Its annual rate in the previous month was posted at 2.8 percent and in June 2020, 2.5 percent. (Tables A and 2)

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

          a. Food, 0.5 percent;
          b. Beverages and tobacco, 4.1 percent;
          c. Crude materials, inedible except fuels, 39.2 percent;
          d. Mineral fuels, lubricants and related materials, 15.9 percent;
          e. Chemicals including animal and vegetable oils and fats, 5.7 percent; and
          f.  Manufactured goods classified chiefly by materials, 0.8 percent.

Meanwhile, the indices of machinery and transport equipment; and miscellaneous manufactured articles exhibited higher annual upticks of 0.9 percent and 3.0 percent, respectively during the month. (Table 2)

2. GWPI in Luzon also picked up at a slower rate in June 2021

Similarly, the annual hike of GWPI in Luzon eased to 2.1 percent in June 2021, from an annual rate of 3.0 percent in May 2021. Its annual change in June 2020 was recorded at 2.8 percent. (Tables A and 2)

Annual add-ons slowed down during the month in the indices of the following commodity groups:

          a. Food, 0.1 percent;
          b. Beverages and tobacco, 3.9 percent;
          c. Crude materials, inedible except fuels, 41.5 percent;
          d. Mineral fuels, lubricants and related materials, 17.4 percent;
          e. Chemicals including animal and vegetable oils and fats, 6.3 percent; and
          f.  Manufactured goods classified chiefly by materials, 0.8 percent.

On the other hand, annual increases were higher in the indices of machinery and transport equipment; and miscellaneous manufactured articles at 0.9 percent and 3.5 percent, respectively. (Table 2)

3. GWPI in Visayas decelerated during the period

Following the same trend of the national level and Luzon, the annual growth rate of GWPI in Visayas slid to 0.4 percent in June 2021, from 0.8 percent in May 2021. It was also the same annual growth rate recorded in June 2020. (Tables A and 2)

The index of chemicals including animal and vegetable oils and fats continued to move downward as its annual rate dropped further by -1.5 percent. In addition, the index of food slowed down further at an annual rate of 0.4 percent in June 2021.

On the other hand, the index of mineral fuels, lubricants and related materials went up at an annual rate of 3.3 percent during the month, from an annual decline of -7.8 percent in the previous month.

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

4. Higher annual rate was, however, noted in the GWPI in Mindanao in June 2021

The annual change of GWPI in Mindanao rose by 4.8 percent in June 2021. Its annual rate in the previous month was observed at 4.2 percent and in June 2020, 1.6 percent. (Tables A and 2)

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

          a. Food, 7.7 percent;
          b. Mineral fuels, lubricants and related materials, 6.7 percent;
          c. Chemicals including animal and vegetable oils and fats, 4.0 percent; and
          d. Manufactured goods classified chiefly by materials, 0.5 percent.

On the contrary, annual hike decelerated during the month in the index of crude materials, inedible except fuels at 44.7 percent.

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

 

 

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