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

Reference Number: 

2017-228

Release Date: 

Friday, September 15, 2017

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

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

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
  July 2.7 2.9 2.3 1.5
  June 1.6 1.4 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
  July 0.2 -0.1 2.5 0.8

                                                  
                              

 

 

 

 

• Year-on-Year
    
    The year-on-year growth of General Wholesale Price Index (GWPI) at the national level went up by 2.7 percent in July 2017. In the previous month, its annual rate was pegged at 1.6 percent and in July 2016, 0.2 percent. Higher annual increment was recorded in beverages and tobacco index at 8.7 percent; mineral fuels, lubricants and related materials index, 9.5 percent; and manufactured goods classified chiefly by materials index, 0.8 percent. Slower annual gains were, however, noticed in the indices of crude materials, inedible except fuels at 8.8 percent and chemicals including animal and vegetable oils and fats, 3.8 percent. Moreover, the food index continued to register a negative annual rate at -0.2 percent. The indices of machinery and transport equipment and miscellaneous manufactured articles retained their previous month’s rates of 0.7 percent and 0.9 percent, respectively (see Table 1.1).

• On an annual basis, the GWPI in Luzon climbed by 2.9 percent in July 2017. The annual rate was 1.5 percent in June 2017, while it was posted at -0.1 percent in July 2016. A double-digit annual mark-up of 10.3 percent was noted in mineral fuels, lubricants and related materials index. On the other hand, the annual increase in crude materials, inedible except fuels index slowed down to 9.6 percent, while the annual growth of the heavily-weighted food index fell by 0.6 percent. Other commodity groups moved at their previous month’s rate (see Table 2.1).

• The annual increment of GWPI in Mindanao was higher at 1.5 percent in July 2017. Its annual movement in the previous month and in July 2016 was both recorded at 0.8 percent. The index of manufactured goods classified chiefly by materials index posted a higher annual mark-up of 1.2 percent. Moreover, the index of food increased by 1.1 percent from zero growth and mineral fuels, lubricants and related materials index, 0.4 percent from -2.5 percent. On the other hand, the annual hike in crude materials, inedible except fuels index was slower at 0.2 percent; chemicals including animal and vegetable oils and fats index, 1.2 percent; and miscellaneous manufactured articles index, 1.1 percent. Beverages and tobacco index retained its previous month’s rate of 10.0 percent and machinery and transport equipment index, 0.7 percent (see Table 4.1).

• The year-on-year growth of GWPI in Visayas decelerated to 2.3 percent in July 2017. The annual change in June 2017 was noted at 3.7 percent and in July 2016, 2.5 percent. Negative annual rates were still noticed in the indices of manufactured goods classified chiefly by materials at -0.8 percent and miscellaneous manufactured articles, -0.5 percent. In addition, slower annual mark-ups were seen in the indices of food at 1.4 percent; crude materials, inedible except fuels, 4.5 percent; and chemicals including animal and vegetable oils and fats, 0.4 percent. On the other hand, faster annual upticks were posted in the indices of beverages and tobacco at 10.5 percent; mineral fuels, lubricants and related materials, 6.6 percent; and machinery and transport equipment, 3.0 percent (see Table 3.1).

 

• By Commodity Group, Month-on-Month
 

   On a monthly basis, the GWPI at the national level increased by 0.8 percent in July 2017 from -1.0 percent in June 2017. A higher growth of 0.4 percent was recorded in the heavily-weighted food index. In addition, mineral fuels, lubricants and related materials index accelerated by 4.6 percent from -5.8 percent and manufactured goods classified chiefly by materials index, 0.2 percent from -0.2 percent. On the other hand, the index of beverages and tobacco moved up at a slower pace of 0.2 percent while that for crude materials, inedible except fuels index dropped by 3.5 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 5.0 percent. Similarly, the group’s index in Visayas rose by 0.7 percent due to upward adjustments in the prices of diesel oil and kerosene. Higher prices of gasoline and diesel oil in Mindanao also raised its group’s index by 2.3 percent. For the Philippines, the group’s index went up by 4.6 percent.
     
  • The food index in Visayas advanced by 0.6 percent from a 0.4 percent decrease in the previous month. This was effected by the price mark-ups observed in beef, pork, canned meat products, cheese, fresh fish, selected bakery products, fresh fruits, vegetables, processed animal feeds, coffee beans and cooking oil. In Luzon, live weight chicken, eggs, pork, fresh fruits, instant coffee, margarine and vinegar were priced higher during the month. Thus, the food index in the area went up by 0.4 percent. Price increments in live weight hogs, pork, beef, selected dairy products, fish, unmilled corn, rice, flour, selected bakery products, fresh vegetables, sugar, processed animal feeds, margarine and desiccated coconut pushed up the group’s index in Mindanao by 0.3 percent. The food index at the country level went up by 0.4 percent.
     
  • Prices of tires, lumber, window sash, angle bar, electrical metal tubing and fabricated wire products in Luzon were higher during the month. Hence, the index of manufactured goods classified chiefly by materials in the area moved up by 0.1 percent. Upticks in the prices of selected paper products, woven fabrics, abaca rope, G.I. sheets, G.I. pipe and barbed wire likewise raised the group’s index in Mindanao by 0.2 percent. The group’s index in Visayas, however, had zero growth during the period. The group’s index at the country level inched up by 0.2 percent.
     
  • Upward price adjustments in liquor and cigarettes effected the 1.9 percent growth in beverages and tobacco index in Visayas. On the contrary, the group’s index in Luzon and Mindanao had zero growth during the month. At the national level, the group’s index picked up by 0.2 percent.
     
  • The 3.7 percent decrease in the index of crude materials, inedible except fuels in Luzon was brought about by lower prices of copra and abaca fiber. Lower price of copra also pushed down the group’s index in Visayas by 5.6 percent. The group’s index in Mindanao, however, had zero growth during the period. At the country level, the group’s index fell by 3.5 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Visayas climbed by 0.3 percent as fertilizer, medical and pharmaceutical preparations and insecticides were priced higher in the area. In Luzon, prices of coconut oil and paint were lower during the month. Thus, the group’s index in the area dropped by 0.1 percent. Similarly, the group’s index in Mindanao declined by 0.2 percent due to lower price of fertilizer. At the national level, the index posted zero growth during the month.
     
  • The machinery and transport equipment index in Visayas went up by 0.6 percent. This was attributed to higher prices in battery and electrical bulb. In Luzon, downward adjustments in the prices of electrical wires resulted to a 0.1 percent decline in its group’s index. On the other hand, a zero growth was posted in the group’s index in Mindanao. At the country level, it had zero growth.
     
  • The index of miscellaneous manufactured articles in the four areas registered zero growth in July 2017.

Attachment: 

Tags: