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

Reference Number: 2022-039
Release Date: 26 January 2022

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

Area November 2020 October 2021 November 2021 Year-to-Date*
 Philippines 2.3 3.9 4.2p 3.0
 Luzon 2.7 4.1 4.3p 3.1
 Visayas -0.9 0.8 1.4 0.3
 Mindanao 1.9 4.8 5.0 4.5

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

GWPI

    

1. The GWPI at the national level continued to move upward in November 2021

The GWPI for the Philippines picked up further at an annual rate of 4.2 percent in November 2021, from 3.9 percent in October 2021. Its annual growth in November 2020 was posted at 2.3 percent. (Tables A and 2)

The indices of the following commodity groups registered higher annual increases during the month:

  • Food, 2.7 percent;
  • Beverages and tobacco, 4.8 percent;
  • Mineral fuels, lubricants and related materials, 34.2 percent; and
  • Machinery and transport equipment, 1.4 percent.

On the other hand, annual increments decelerated in the indices of crude materials, inedible except fuels at 17.3 percent; and chemicals including animal and vegetable oils and fats at 3.8 percent.

The indices of manufactured goods classified chiefly by materials; and miscellaneous manufactured articles retained their previous month’s annual growth rates at 6.4 percent and 0.5 percent, respectively. (Table 2)

2. GWPI in Luzon picked up during the month

Following the trend of the national level, the year-on-year change of GWPI in Luzon went up further to 4.3 percent in November 2021, from 4.1 percent in October 2021. Its annual rate in November 2020 was observed at 2.7 percent. (Tables A and 2)

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

  • Food, 2.4 percent;
  • Beverages and tobacco, 4.7 percent;
  • Mineral fuels, lubricants and related materials, 36.7 percent;
  • Manufactured goods classified chiefly by materials, 7.2 percent; and
  • Machinery and transport equipment, 1.4 percent.

However, annual increments slowed down in the indices of crude materials, inedible except fuels at 18.0 percent; chemicals including animal and vegetable oils and fats at 4.1 percent; and miscellaneous manufacture articles at 0.2 percent. (Table 2)

3. GWPI in Visayas also went up at a faster pace in November 2021

The annual rate of GWPI in Visayas continued its uptrend as it moved up further to 1.4 percent in November 2021, from 0.8 percent in the previous month. Its annual growth rate in November 2020 was seen at -0.9 percent. (Tables A and 2)

Higher annual upticks during the month were recorded in the indices of food at 1.2 percent; beverages and tobacco at 6.2 percent; and mineral fuels, lubricants and related materials at 18.1 percent.

On the contrary, the index of crude materials, inedible except fuels during the month exhibited a slower annual rate of 0.4 percent, while the indices of the rest of the commodity groups retained their previous month’s annual growth rates. (Table 2)

4. Higher annual uptick was recorded in the GWPI of Mindanao in November 2021

The annual rate of GWPI in Mindanao, likewise, rose to 5.0 percent in November 2021, from 4.8 percent in October 2021. Its annual growth rate in November 2020 was registered at 1.9 percent. (Tables A and 2)

Annual hikes were higher in the indices of food at 7.8 percent; and beverages and tobacco at 5.7 percent. Moreover, the negative annual rate of -0.1 percent registered in the index of miscellaneous manufactured articles during the month was lower relative to its annual drop of -0.2 percent in the previous month.

On the other hand, annual increases were slower in the indices of crude materials, inedible except fuels at 20.8 percent; and mineral fuels, lubricants and related materials at 9.0 percent.

The same annual growth rates in the previous month were still noted in the indices of the rest of the commodity groups. (Table 2)

 

 

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