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

Reference Number: 

2017-280

Release Date: 

Friday, November 10, 2017

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

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

Year/Month
(1)
Philippines
(2)
Luzon
(3)
Visayas
(4)
Mindanao
(5)
 2017        
  September 3.9p 4.0p 4.1 3.1
  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

                                                  
                              

 

 

 

 

• Year-on-Year
    
    The year-on-year growth of General Wholesale Price Index (GWPI) at the national level went up by 3.9 percent in September 2017. It was the same rate observed in the previous month and in September 2016, 1.9 percent. The index of mineral fuels, lubricant and related materials index further accelerated to 17.8 percent. Higher annual increments were likewise recorded in beverages and tobacco index at 8.9 percent and machinery and transport equipment index, 0.9 percent. Meanwhile, slower annual gains were noted in the indices of crude materials, inedible except fuels at 7.2 percent; chemicals including animal and vegetable oils and fats, 1.6 percent; and miscellaneous manufactured articles, 0.8 percent. Movement in manufactured goods classified chiefly by materials index remained at 0.8 percent while that for the food index had zero growth (see Table 1.1).

• The annual change of GWPI in Visayas rose by 4.1 percent in September 2017. Its annual growth in August 2017 was recorded at 3.3 percent and in September 2016, 2.6 percent. Higher annual upticks were posted in the indices of the following commodity groups:

  • Food (2.4%);
  • Crude Materials, Inedible Except Fuels (6.5%);
  • Mineral Fuels, Lubricants and Related Materials (12.8%);
  • Chemicals Including Animal and Vegetable Oils and   Fats (3.7%); and
  • Miscellaneous Manufactured Articles (0.4%).

Meanwhile, the annual increase of manufactured goods classified chiefly by materials index eased to 0.1 percent. Those for the indices of beverages and tobacco and machinery and transport equipment remained at 11.6 percent and 3.6 percent, respectively (see Table 3.1).
 

• The annual hike of GWPI in Mindanao was higher at 3.1 percent in September 2017. In the previous month, its annual growth was recorded at 1.9 percent and in September 2016, 1.3 percent. Annual add-ons were higher in the indices of the following commodity groups:

  • Food (3.3%);
  • Beverages and Tobacco (11.9%);
  • Crude Materials, Inedible Except Fuels (0.9%);
  • Mineral Fuels, Lubricants and Related Materials (6.6%);
  • Chemicals Including Animal and Vegetable Oils and   Fats (1.5%); and
  • Machinery and Transport Equipment (1.6%).

However, slowdowns in the annual increases were observed in the indices of manufactured goods classified chiefly by materials at 0.9 percent and miscellaneous manufactured articles, 0.4 percent (seeTable 4.1).
 

• On the other hand, the annual mark-up of the GWPI in Luzon decelerated to 4.0 percent in September 2017. The annual rate in August 2017 was recorded at 4.2 percent and in September 2016, 1.9 percent. The slowdown was primarily due to the annual decline noted in the heavily-weighted food index at -0.8 percent. In addition, slower annual rates were seen in the indices of crude materials, inedible except fuels at 7.6 percent; chemicals including animal and vegetable oils and fats,1.3 percent; and manufactured goods classified chiefly by materials and miscellaneous manufactured articles, 0.8 percent. On the contrary, the annual increase posted in the index of mineral fuels, lubricants and related materials was higher at 18.8 percent. Growth rates in the other commodity groups remained at their previous month’s level (see Table 2.1).

• By Commodity Group, Month-on-Month
 

   On a monthly basis, the growth of GWPI at the national level eased to 0.6 percent in September 2017. In August 2017, the rate of GWPI was posted at 0.9 percent. The index of crude materials, inedible except fuels dropped by 2.1 percent. Moreover, upticks in the indices of beverages and tobacco slowed down to 0.1 percent and mineral fuels, lubricants and related materials, 3.1 percent. From a zero growth in the previous month, the index of food rose by 0.3 percent. In addition, a higher gain of 0.2 percent was noticed in machinery and transport equipment index. Movement in the index of manufactured goods classified chiefly by materials remained at 0.1 percent while the rest of the commodity groups had zero growth (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 3.1 percent. Similarly, the group’s index in Visayas rose by 3.8 percent due to upward adjustments in the prices of gasoline, kerosene and diesel oil. Higher pricesof gasoline, diesel oil and LPG in Mindanao also raised its group’s index by 3.0 percent. For the Philippines, the group’s index went up by 3.1 percent.
     
  • The food index in Luzon increased by 0.3 percent in September 2017 after it posted a 0.1 percent drop in the previous month. Price mark-ups were observed in canned fish, rice, sotanghon, noodles, fresh fruits and vegetables. In Visayas, prices of pork, fresh milk, canned fish, fresh vegetables, processed animal feeds and cooking oil were higher during the month. Thus, the food index in the area went up by 0.3 percent. Meanwhile, increments in the prices of eggs, pork, beef, milk, fresh fish,unmilled corn, rice, flour, fresh fruits and vegetables, rice bran, processed animal feeds and cooking oil resulted to 1.1 percent growth in its group’s index in Mindanao. For the Philippines, the group’s index picked up by 0.3 percent.
     
  • The machinery and transport equipment index in Luzon inched up by 0.1 percent as prices of electrical wires and convenient electrical outlet were higher during the month. Likewise, the group’s index in Visayas rose by 0.2 percent as battery was priced higher in the area. Moreover, higher prices of electrical wires and circuit breaker and switch pushed up its group’s index in Mindanao by 0.8 percent. At the national level, the group’s index moved upward by 0.2 percent.
     
  • Prices of inner tubes, door jamb, manila paper, cement, flat bar, machine nuts and bolts and fabricated wire products in Luzon were higher during the month. Hence, the index of manufactured goods classified chiefly by materials inthe area advanced by 0.1 percent. Higher prices of plywood and G.I. sheets likewise raised the group’s index in Visayas by 0.1 percent. Moreover, price gains in selected paper products, thread, hollow blocks, deformed and angle bars, machine bolts and fabricated wire products resulted to a 0.2 percent growth in its group’s index in Mindanao. The group’s index at the country level rose by 0.1 percent.
     
  • Upward price adjustments in cigarettes effected the 0.7 percent growth in beverages and tobacco index in Mindanao. On the contrary, the group’s index in Luzon and Visayas had zero growth during the month. For the Philippines, the group’s index went up by 0.1 percent.
     
  • The decline in the index of crude materials, inedible except fuels in Luzon at -2.9 percent was brought about by lower prices of copra, abaca fiber and gravel. However, the group’s index in Visayas accelerated by 4.6 percent due to price increment in copra. Similarly, the group’s index in Mindanao picked up by 0.1 percent due to higher prices of charcoal and gravel. At the country level, the group’s index fell by 2.1 percent.
     
  • The index of chemicals including animal and vegetable oils and fats in Visayas went up by 0.1 percent as fertilizer, selected medical and pharmaceutical preparations and laundry soap were priced higher in the area. In Mindanao, selected medical and pharmaceutical preparations were priced higher. Thus, its group’s index increased by 0.1 percent. In Luzon, upward adjustments in the prices of rice, fresh fruits and vegetables were tempered by the decreases in prices of live weight chicken, eggs, pork, sugar, copra meal, coffee beans and desiccated coconut. Hence, the group’s index in the area recorded zero growth. The national index had zero growth during the month.
     
  • A 0.1 percent uptick in miscellaneous manufactured articles index in Visayas was due to higher price of PVC electrical pipe. In Mindanao, prices of water closet and selected printed matters were on the uptrend. Thus, the group’s index in the area inched up by 0.1 percent. The group’s index in Luzon, however, had zero growth during the period. The group’s index at the national level posted zero growth during the month.

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