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

Reference Number: 2022-026
Release Date: 20 January 2022

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

Area October 2020 September 2021 October 2021 Year-to-Date*
 Philippines 2.0 3.3 3.9 2.8
 Luzon 2.2 3.4 4.1 3.0
 Visayas -0.1 0.4 0.8 0.2
 Mindanao 1.9 4.9 4.8 4.5

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

GWPI

    

1. The Philippines’ GWPI continued its upward trend in October 2021

The GWPI at the national level rose further at an annual rate of 3.9 percent in October 2021, from 3.3 percent in September 2021. Its annual growth in October 2020 was observed at 2.0 percent. (Tables A and 2)

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

  • Food, 1.7 percent;
  • Crude materials, inedible except fuels, 34.4 percent;
  • Mineral fuels, lubricants and related materials, 30.1 percent;
  • Chemicals including animal and vegetable oils and fats 5.2 percent; and
  • Manufactured goods classified chiefly by materials, 6.4 percent.

On the other hand, the annual increase in the index of beverages and tobacco at 4.7 percent during the month was slower compared with its annual rate of 5.3 percent in the previous month.

Annual growth rates in the indices of machinery and transport equipment; and miscellaneous manufactured articles remained at 1.2 percent and 0.5 percent, respectively. (Table 2)

2. GWPI in Luzon also increased this month

Similar with the trend of the national level, the annual change of GWPI in Luzon moved up at a faster pace of 4.1 percent in October 2021. Its annual growth rate in September 2021 was noted at 3.4 percent and in October 2020, 2.2 percent. (Tables A and 2)

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

  • Food, 1.5 percent;
  • Crude materials, inedible except fuels, 37.3 percent;
  • Mineral fuels, lubricants and related materials, 32.5 percent;
  • Chemicals including animal and vegetable oils and fats, 5.6 percent; and
  • Manufactured goods classified chiefly by materials, 7.1 percent.

However, a lower annual uptick of 4.6 percent was, registered in the index of beverages and tobacco during the month.

The indices of machinery and transport equipment; and miscellaneous manufactured articles remained at their corresponding previous month’s annual growth rates of 1.3 percent and 0.3 percent. (Table 2)

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

The annual growth of GWPI in Visayas rose further to 0.8 percent in October 2021, from 0.4 percent in the previous month. Its annual rate was observed at -0.1 percent in October 2020. (Tables A and 2)

The index of food posted an annual increase of 0.2 percent in October 2021, from an annual drop of -0.4 percent in September 2021. Moreover, annual increments were higher in the indices of crude materials, inedible except fuels at 2.1 percent; and mineral fuels, lubricants and related materials at 11.5 percent.

However, a lower annual uptick of 5.4 percent was registered in the index of beverages and tobacco compared with its annual rate of 5.8 percent in the previous month.

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

4. GWPI in Mindanao went up at slower pace during the month

The annual hike of GWPI in Mindanao eased to 4.8 percent in October 2021, from 4.9 percent in September 2021. Its annual growth in October 2020 was recorded at 1.9 percent. (Tables A and 2)

The slowdown in the GWPI in Mindanao during the period was due to the lower annual growth rate registered in the index of food at 7.4 percent.

Meanwhile, annual upticks were higher in the indices of the following commodity groups:

  • Beverages and tobacco, 3.5 percent;
  • Crude materials, inedible except fuels, 22.5 percent;
  • Mineral fuels, lubricants and related materials, 10.6 percent; and
  • Manufactured goods classified chiefly by materials, 1.5 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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