General Wholesale Price Index (1998=100) : August 2017

Reference Number: 

2017-252

Release Date: 

Friday, October 13, 2017

GENERAL WHOLESALE PRICE INDEX (GWPI)
(1998=100)

Year-on-Year Growth Rates, All Items
August 2016 - August 2017

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
  August 3.9 4.2 3.3 1.9
  July 2.7 2.9 2.3 1.5
  June 1.6 1.5 3.7 0.8
  May 3.4 3.6 4.7 0.1
 April 5.1 5.6 5.0 1.3
 March 6.0 6.5 4.6 2.9
 February 7.5 8.1 5.8 3.4
 January 7.4 8.2 5.3 3.1
 2016 1.1 1.1 1.6 1.2
  December 5.5 6.1 3.6 2.5
  November 3.1 3.3 2.6 1.7
  October 3.0 3.2 3.0 1.1
  September 1.9 1.9 2.6 1.3
  August 0.8 0.4 2.9 1.8

                                                  
                              

 

 

 

 

• Year-on-Year
    
    The annual adjustment of the General Wholesale Price Index (GWPI) at the national level further picked up by 3.9 percent in August 2017. In the previous month, its annual growth was recorded at 2.7 percent and in August 2016, 0.8 percent. Higher annual increments were noticed in the indices of the following commodity groups:

  • Beverages and Tobacco (8.8%);
  • Crude Materials, Inedible Except Fuels (10.8%);
  • Mineral Fuels, Lubricants and Related Materials (16.6%);
  • Chemicals Including Animal and Vegetable Oils and Fats (4.6%); and
  • Machinery and Transport Equipment (0.8%).

On the other hand, the food index continued to register a negative annual rate at -0.3 percent. The indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles retained their previous month’s rates of 0.8 percent and 0.9 percent, respectively (see Table 1.1).
 

• On an annual basis, the GWPI in Luzon likewise accelerated by 4.2 percent in August 2017. In July 2017, its annual growth was 2.9 percent and in August 2016, 0.4 percent. The annual mark-up in crude materials, inedible except fuels index was higher at 11.8 percent; mineral fuels, lubricants and related materials index, 17.9 percent; and chemicals including animal and vegetable oils and fats index, 5.2 percent. Meanwhile, the annual increase in miscellaneous manufactured articles index slowed down to 0.9 percent. That for the heavily-weighted food index fell by 0.9 percent. Other commodity groups moved at their previous month’s rate (see Table 2.1).

• In Visayas, the annual growth of the GWPI rose by 3.3 percent in August 2017. It was pegged at 2.3 percent in July 2017 and 2.9 percent in August 2016. Higher annual upticks were posted in the indices of the following commodity groups:

  • Food (1.7%);
  • Beverages and Tobacco (11.6%);
  • Crude Materials, Inedible Except Fuels (5.4%);
  • Mineral Fuels, Lubricants and Related Materials (8.9%);
  • Chemicals Including Animal and Vegetable Oils and Fats (3.5%); and
  • Machinery and Transport Equipment (3.6%).

• The annual movement of GWPI in Mindanao further climbed by 1.9 percent in August 2017. In the previous month, it annual rate was posted at 1.5 percent and in August 2016, 1.8 percent. Annual add-ons were higher in the indices of the following commodity groups:

  • Food (1.5%);
  • Beverages and Tobacco (11.2%);
  • Crude Materials, Inedible Except Fuels (0.6%);
  • Mineral Fuels, Lubricants and Related Materials (3.5%);
  • Chemicals Including Animal and Vegetable Oils and Fats (1.4%); and
  • Machinery and Transport Equipment (0.8%).

However, slowdowns in the annual increases were both observed in the indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles at 1.0 percent (see Table 4.1).

• By Commodity Group, Month-on-Month
 

   On a monthly basis, the GWPI at the national level increased by 0.9 percent in August 2017. In July 2017, its rate was 0.8 percent. A higher growth of 4.7 percent was noticed in mineral fuels, lubricants and related materials index. In addition, from zero growth in the previous month, the index of machinery and transport equipment inched up by 0.1 percent. Meanwhile, uptick in the index of manufactured goods classified chiefly by materials eased to 0.1 percent. Declines were also noted in the indices of crude materials, inedible except fuels at -0.1 percent and chemicals including animal and vegetable oils and fats, -0.2 percent. A zero growth was registered in the rest of the commodity groups (see Table 1.2).

  • Price hikes in petroleum products such as gasoline, kerosene, diesel oil, bunker fuel, lubricating oil, crude petroleum oil and LPG pushed up the index of mineral fuels, lubricants and related materials in Luzon by 4.9 percent. Similarly, the group’s index in Visayas rose by 2.6 percent due to upward adjustments in the prices of gasoline, kerosene and diesel oil. Higher prices of gasoline, diesel oil and LPG in Mindanao also raised its group’s index by 2.8 percent. For the Philippines, the group’s index went up by 4.7 percent.
     
  • Price mark-ups in liquors and cigarettes pushed up the index of beverages and tobacco in the three areas: Luzon, 0.3 percent; Visayas, 1.0 percent; and Mindanao, 1.1 percent. For the Philippines, the group’s index advanced by 0.4 percent.
     
  • The index for manufactured goods classified chiefly by materials in Luzon inched up by 0.1 percent. This can be attributed to higher prices of selected paper products, tiles, steel bars, electrical metal tubing, window frames, and barbed wire in the area during the month. Moreover, price gains in tires and inner tubes, angle and flat bars, G.I. pipe, cutlery, handtools and hardware and fabricated wire products resulted to a 0.2 percent growth in its group’s index in Mindanao. The group’s index in Visayas, however, had zero growth during the period. The group’s index at the country level rose by 0.1 percent.
     
  • The machinery and transport equipment index in Visayas went up by 0.2 percent as battery and electrical bulb were priced higher in the area. In Mindanao, upward adjustments in the prices of electrical wires and circuit breaker resulted to a 0.1 percent increase in its group’s index. On the other hand, a zero growth was posted in the group’s index in Luzon. At the national level, the group’s index moved upward by 0.1 percent.
     
  • A 0.1 percent decrease in the index of crude materials, inedible except fuels in Luzon was brought about by lower prices of copra. The group’s index in Visayas and Mindanao, however, had zero growth during the period. At the country level, the group’s index fell by 0.1 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Luzon fell by 0.3 percent. The downtrend was brought about by lower prices of industrial alcohol, coconut oil and fertilizer during the month. Meanwhile, medical and pharmaceutical preparations and toilet soap were priced higher in Mindanao. Thus, its group’s index inched up by 0.2 percent. In Visayas, its group’s index had a flat growth. For the Philippines, the group’s index decreased by 0.2 percent.
     
  • The food index in Visayas picked up by 0.3 percent In August 2017. Selected food items such as eggs, pork, beef, canned meat products, fresh fish, bakery products and processed animal feeds were priced higher during the month. In Mindanao, upward price adjustments in fresh milk, cheese, unmilled corn, rice, flour, noodles, fruits, margarine, ice, starch and salt raised its food index by 0.4 percent. On the other hand, lower prices of live weight chicken, selected canned fish, and fish sauces and extracts, copra meal and desiccated coconut in Luzon resulted to a 0.1 percent decrease in its food index. At the national level, the group’s index recorded zero growth.
     
  • The index of miscellaneous manufactured articles in the four areas registered zero growth in August 2017.

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