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General Wholesale Price Index (2012=100) : March 2020

Reference Number: 2020-089
Release Date: 01 June 2020

GENERAL WHOLESALE PRICE INDEX (GWPI)
(2012=100)

MARCH 2020

Table A. Year-on-Year Changes of GWPI, in Percent
(2012=100)

Area March 2020 February 2020 March 2019 Year-to-Date
 Philippines 2.1p 2.5p 1.1 2.5
 Luzon 2.2p 2.4p 0.9 2.5
 Visayas 2.4 3.1 1.8 2.9
 Mindanao 1.5 1.3 2.5 1.4

                                               p-preliminary

                                               

Figure 1. Year-on-Year Changes of GWPI for All Items by Area, in Percent
March 2019 - March 2020
(2012=100)

GWPI

    

1. Annual rate of the Philippines’ GWPI decelerates further

The GWPI at the country level continued to move at a slower pace during the month as it posted an annual rate of 2.1 percent, from an annual increase of 2.5 percent in February 2020. Its annual rate in March 2019 was registered at 1.1 percent. (Table A and Table 2)

Annual declines were still registered in the indices of mineral fuels, lubricants and related materials at 8.7 percent; and chemicals including animal and vegetable oils and fats, 1.3 percent. Moreover, annual hikes slid in the indices of food at 3.3 percent; manufactured goods classified chiefly by materials, 3.4 percent; and machinery and transport equipment, 1.3 percent.

On the other hand, annual increments were higher in the indices of beverages and tobacco at 6.9 percent; and crude materials, inedible except fuels, 13.9 percent. In addition, the index of miscellaneous manufactured articles picked up at an annual rate of 0.2 percent, from an annual decrease of 1.9 percent in the previous month. (Table 2)

2. GWPI in Luzon in March 2020 also moves up at a slower pace

The GWPI in Luzon, likewise, slowed down at an annual rate of 2.2 percent in March 2020. Its annual rate in February 2020 was noted at 2.4 percent and in March 2019, 0.9 percent. (Table A and Table 2)

On an annual basis, decreases were still recorded in the indices of mineral fuels, lubricants and related materials at 8.9 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 3.3 percent; manufactured goods classified chiefly by materials, 3.7 percent; and machinery and transport equipment, 1.4 percent.

Meanwhile, the indices moved up faster for beverages and tobacco at an annual rate of 6.6 percent; and crude materials, inedible except fuels, 14.1 percent. Similarly, the index of miscellaneous manufactured articles went up at an annual rate of 0.3 percent, from 2.2 percent annual drop recorded in the previous month. (Table 2)

3. Annual growth rate of GWPI in Visayas slows down

The GWPI in Visayas eased further at an annual rate of 2.4 percent in March 2020. In the previous month, its annual change was 3.1 percent and in March 2019, 1.8 percent. (Table A and Table 2)

The index of mineral fuels, lubricants and related materials declined further at an annual rate of 8.7 percent. Similarly, the index of miscellaneous manufactured articles went down at annual rate of 0.1 percent, from zero percent annual growth in the previous month. Moreover, an annual decrease of 0.1 percent was still observed in the index of manufactured goods classified by materials. Contributing also to the downtrend in the overall GWPI in the area were the deceleration in the annual increases posted in the indices of food at 4.6 percent; and beverages and tobacco, 11.7 percent.

On the other hand, the index of crude materials, inedible except fuels moved up faster at an annual rate of 10.5 percent, while the previous month’s annual rates were still observed in the indices of chemicals including animal and vegetable oils and fats at 2.0 percent; and machinery and transport equipment, 0.3 percent. (Table 2)

4. GWPI in Mindanao picks up in March 2020

The GWPI in Mindanao posted a higher annual rate of 1.5 percent in March 2020. In the previous month, its annual change was recorded at 1.3 percent and in March 2019, 2.5 percent. (Table A and Table 2)

Annual upticks were higher during the month in the indices of food at 2.1 percent; and beverages and tobacco, 6.6 percent.

Meanwhile, annual increases were slower in the indices of crude materials, inedible except fuels at 14.5 percent; manufactured goods classified chiefly by materials, 1.8 percent; and machinery and transport equipment, 0.6 percent. In addition, annual rates decreased in the indices of mineral fuels, lubricants and related materials at 5.6 percent; chemicals including animal and vegetable oils and fats, 0.7 percent; and miscellaneous manufactured articles, 0.6 percent. (Table 2)
 

 

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