Year-on-Year Growth Rates, All Items
February 2015 - February 2016
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2016 | ||||
| February | -1.1 | -1.6 | 1.0 | 0.4 |
| January | 0.4 | 0.1 | 1.4 | 1.6 |
| 2015 | -3.9 | -4.3 | -1.4 | -2.0 |
| December | -0.7 | -1.0 | 1.0 | -0.6 |
| November | -2.1 | -2.4 | -0.7 | -1.4 |
| October | -3.1 | -3.5 | -1.4 | -1.0 |
| September | -4.3 | -4.9 | -2.2 | -1.6 |
| August | -4.1 | -4.4 | -2.8 | -2.5 |
| July | -3.7 | -4.1 | -1.9 | -2.2 |
| June | -3.7 | -4.2 | -1.0 | -2.1 |
| May | -4.1 | -4.8 | -0.3 | -1.8 |
| April | -4.4 | -4.9 | -0.5 | -2.9 |
| March | -4.7 | -5.2 | -1.9 | -3.0 |
| February | -4.9 | -5.4 | -2.4 | -2.1 |
Year-on-Year
On an annual basis, the country’s General Wholesale Price Index (GWPI) dropped by 1.1 percent in February. Last month, it moved up by 0.4 percent and in February 2015, -4.9 percent. This was mainly effected by the continuous decline recorded in mineral fuels, lubricants and related materials index at -18.6 percent. Moreover, the annual growth for food index eased to 3.2 percent; beverages and tobacco index, 3.5 percent; manufactured goods classified chiefly by materials index, 0.9 percent; and miscellaneous manufactured articles index, 1.8 percent. Higher annual gains were, however, posted in the indices of crude materials, inedible except fuels at 11.6 percent; chemicals including animal and vegetable oils and fats, 2.9 percent; and machinery and transport equipment, 0.2 percent (Table 1.2).
Following the same trend at the national level, the annual growth of GWPI in Luzon dropped by 1.6 percent in February. This was primarily due to the annual decrease registered in mineral fuels, lubricants and related materials index at -19.3 percent. Also contributing to the downtrend were slowdowns in the annual increments noted in the indices of the following commodity groups: food (2.9%); beverages and tobacco (3.4%), manufactured goods classified chiefly by materials (1.0%); and miscellaneous manufactured articles (2.0%). Meanwhile, annual gains were higher in the indices of crude materials, inedible except fuels index at 12.3 percent and chemicals including animal and vegetable oils and fats index, 3.5 percent. That for machinery and transport equipment index moved upward by 0.3 percent (Table 2.2).
The double-digit annual reduction of 14.2 percent in mineral fuels, lubricants and related materials index primarily resulted to a slower annual rate posted in the GWPI in Visayas at 1.0 percent during the month. Moreover, lower annual growths were noted in the indices of food at 5.8 percent and beverages and tobacco, 4.9 percent. On the contrary, crude materials, inedible except fuels index recorded a 2.2 percent annual gain compared to 8.2 percent decline last month. The rest of the commodity groups moved at their previous month’s rate with a flat growth still registering in manufactured goods classified chiefly by materials index (Table 3.2).
The annual growth of the GWPI in Mindanao likewise decelerated to 0.4 percent in February as the index for mineral fuels, lubricants and related materials exhibited a double-digit annual drop of 13.7 percent and chemicals including animal and vegetable oils and fats index, -0.1 percent. Moreover, slow-paced annual growths were seen in the indices of food at 2.9 percent and beverages and tobacco, 2.6 percent. Meanwhile, the annual add-on in crude materials, inedible except fuels index was higher at 18.2 percent. The other commodity groups retained their last month’s rate (Table 4.2).
By Commodity Group, Month-on-Month
On a monthly basis, the GWPI at the national level increased by 0.3 percent in February. Higher growths were noticed in the indices of food at 1.2 percent; crude materials, inedible except fuels, 5.3 percent; chemicals including animal and vegetable oils and fats, 1.0 percent; and machinery and transport equipment, 0.2 percent. On the other hand, increment in beverages and tobacco index slowed down to 0.1 percent. In addition, mineral fuels, lubricants and related materials index went down by 2.6 percent and manufactured goods classified chiefly by materials and miscellaneous manufactured articles indices, -0.2 percent (Table 1.1).
The food index in Luzon moved up by 1.5 percent in February as price mark-ups were observed in live weight chickens, eggs, beef, pork, selected meat products, dairy products, processed fish, rice, flour, fruits, sugar, copra meal, tonic drink, coffee beans and some miscellaneous food products. In Mindanao, prices of selected fruits and vegetables were higher during the month. Thus, the food index in the area went up by 0.4 percent. However, the downward adjustments in the prices of beef and rice in Visayas pushed down the group’s index in the area by 0.8 percent. For the Philippines, the group’s index, increased by 1.2 percent.
The index for crude materials, inedible except fuels in Luzon rose 4.9 percent as prices of copra, abaca fiber and pebbles were on the uptrend. Similarly, higher prices of copra raised the group’s index in Visayas by 11.2 percent. In Mindanao, it recorded a 2.4 percent growth during the month due to upward adjustments in the prices of firewood and bamboo poles. At the national level, the group’s index accelerated to 5.3 percent.
In Luzon, the index for chemicals including animal and vegetable oils and fats advanced by 1.3 percent. This was brought about by higher prices in coconut oil and laundry soap. Meanwhile, the increments in the prices of vitamins and selected medical and pharmaceutical preparations resulted to a 0.1 percent growth in the group’s index in Mindanao. In Visayas, the group’s index had a flat growth. At the country level, it picked up by 1.0 percent.
The 0.3 percent growth in machinery and transport equipment index in Luzon was due to the increases in the prices of selected electrical apparatus and appliances. A flat growth was noticed, however, in the group’s index in Visayas and Mindanao. For the Philippines, it moved up by 0.2 percent.
Add-ons in the prices of liquors during the month effected a 0.1 percent growth in beverages and tobacco index in Luzon. In Visayas, prices of liquors and cigarettes were on the uptrend. Hence, the group’s index in the area advanced by 0.7 percent. In Mindanao, the group’s index had a flat growth. The national index inched up 0.1 percent.
Lower prices of gasoline, diesel, kerosene, bunker fuel oil and LPG pushed down the index for mineral fuels, lubricants and related materials by 2.9 percent in Luzon and 4.5 percent in Mindanao. However, kerosene and diesel in Visayas were priced higher during the month. This factor raised the index in the area by 2.6 percent. For the Philippines, the group’s index fell by 2.6 percent.
Prices of selected tires and paper products, cement, glass and glass products and metal products in Luzon went down during the month. Thus, the index for manufactured goods classified chiefly by materials in the area declined by 0.2 percent. Meanwhile, price gains in selected inner tubes, paper, paper products, concrete products, metal containers and fabricated wire products caused a 0.1 percent growth in its group’s index in Mindanao. A flat growth was noticed in the group’s index in Visayas. At the national level, the index dropped by 0.2 percent.
Downward adjustments in the prices of bed mattress and selected clothing items pushed down the miscellaneous manufactured articles index in Luzon by 0.2 percent. On the other hand, higher prices of selected clothing products and footwear and some other printed materials were noted in Mindanao. Thus, a 0.1 percent growth in the group’s index in the area during the month. The group’s index in Visayas had a flat growth. At the country level, it contracted by 0.2 percent.
Note:
1. GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).
