Year-on-Year Growth Rates, All Items
January 2013 - January 2014
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2014 | ||||
| January | 4.8p | 4.6p | 3.7 | 7.6 |
| 2013 | ||||
| December | 5.3 | 4.9 | 4.7 | 9.2 |
| November | 4.1 | 3.5 | 3.8 | 8.9 |
| October | 2.9 | 2.3 | 2.0 | 8.9 |
| September | 2.2 | 1.5 | 1.6 | 8.7 |
| August | 1.5 | 0.8 | 2.0 | 7.5 |
| July | 3.6 | 3.1 | 3.1 | 8.2 |
| June | 2.7 | 2.4 | 2.2 | 6.9 |
| May | 0.2 | -0.5 | 0.8 | 6.4 |
| April | -1.4 | -2.2 | -0.8 | 5.7 |
| March | -1.5 | -2.3 | -0.2 | 4.3 |
| February | 0.2 | -0.4 | 2.1 | 4.6 |
| January | -0.4 | -1.1 | 1.7 | 3.9 |
p - preliminary
Year-on-Year
The year-on-year growth in the country’s General Wholesale Price Index (GWPI) decelerated to 4.8 percent at the beginning of the year 2014 from 5.3 percent in December 2013. Slower annual increases were posted in the indices of beverages and tobacco at 10.1 percent in January from 25.7 percent in December; crude materials, inedible except fuels, 32.4 percent from 32.5 percent; and chemicals including animal and vegetable oils and fats, 6.2 percent from 6.4 percent. However, higher annual increments were observed in mineral fuels, lubricants and related materials index at 6.5 percent from 6.4 percent; manufactured goods classified chiefly by materials index, 1.6 percent from 1.5 percent; machinery and transport equipment, 1.8 percent from 1.7 percent; and miscellaneous manufactured articles index, 1.5 percent from 1.4 percent. That for the heavily- weighted food index remained at 4.0 percent.
Following the trend at the national level, the annual gain of the GWPI in Luzon eased to 4.6 percent in January 2014 from 4.9 percent in December 2013. This can be attributed to slower annual rates in beverages and tobacco index at 11.5 percent from 24.8 percent; crude materials, inedible except fuels index, 36.8 percent from 37.1 percent; and chemicals including animal and vegetable oils and fats index, 7.4 percent from 7.5 percent. Meanwhile, a higher annual uptick was noted in the food index at 2.3 percent from 2.2 percent; mineral fuels,lubricants and related materials index, 6.9 percent from 6.7 percent; manufactured goods classified chiefly by materials index, 1.3 percent from 1.1 percent; and miscellaneous manufactured articles index, 1.1 percent from 1.0 percent. The machinery and transport equipment index retained its last month’s rate of 1.5 percent.
In Visayas, the annual mark-up in the GWPI likewise slowed down to 3.7 percent in January from 4.7 percent in December. This was due to the deceleration in the beverages and tobacco index at 2.2 percent in January from a double-digit figure of 25.7 percent in December; mineral fuels, lubricants and related materials index, 2.1 percent from 3.2 percent; and chemicals including animal an vegetable oils and fats index, 2.3 percent from 2.5 percent. On the other hand, higher annual rates were noticed in the indices of food at 5.8 percent from 5.4 percent and crude materials, inedible except fuels index, 6.1 percent from 3.8 percent. The rest of the commodity groups moved at their respective last month’s rate.
In Mindanao, the GWPI went up at a slower pace of 7.6 percent in January from 9.2 percent in December. The annual rate in the heavily-weighted food index improved to 14.2 percent from 15.9 percent; beverages and tobacco index, 8.7 percent from 32.6 percent; mineral fuels, lubricants and related materials index, 3.8 percent from 3.9 percent; and machinery and transport equipment index, 3.1 percent from 3.5 percent. However, annual growth in crude materials, inedible except fuels index advanced to 10.9 percent from 10.3 percent; chemicals including animal and vegetable oils and fats index, 1.4 percent from 1.2 percent; and miscellaneous manufactured articles index, 5.3 percent from 5.2 percent. The manufactured goods classified chiefly by materials index remained at its last month’s rate of 2.7 percent.
By Commodity Group, Month-on-Month
On a monthly basis, increments in wholesale prices at the national level slowed to 0.3 percent in January 2014 from 1.0 percent in December 2013. The monthly increase in the food index eased to 0.2 percent from 0.4 percent; crude materials, inedible except fuels index, 2.3 percent from 5.9 percent; mineral fuels, lubricants and related materials index, 0.5 percent from 2.5 percent; and chemicals including animal and vegetable oils and fats index, 0.5 percent from 0.9 percent. However, a higher monthly gain was seen in beverages and tobacco index at 0.4 percent from 0.1 percent. The rest of the commodity groups either retained their respective last month’s rate or had a zero growth.
The crude materials, inedible except fuels index in Mindanao climbed to 0.5 percent from 0.1 percent. This was due to the upward adjustments in the prices of firewood, charcoal and bamboo in the area during the month. From zero growth, the group’s index in Visayas went up 0.3 percent as prices of charcoal were also on the uptrend. In Luzon, higher prices of copra, abaca, sand, gravel and pebbles raised its group’s index by 2.6 percent. This was however slower than the 6.9 percent growth last month. At the national level, the group’s index moved at 2.3 percent from 5.9 percent.
Higher prices of crude petroleum oil, gasoline and LPG pushed up the mineral fuels, lubricants and related materials index in Luzon by 0.6 percent. Likewise, price hikes in gasoline and LPG resulted to a 0.1 percent growth in its group’s index in Visayas. On the other hand, the 0.8 percent decline in the group’s index in Mindanao was brought about by lower prices of LPG during the period. These mixed movements effected a slower increase of 0.5 percent from 2.5 percent at the national level.
The 0.5 percent uptick in chemicals including animal and vegetable oils and fats index in Luzon was attributed to price gains in coconut oil, selected paints, some vitamins and antibiotics. Moreover, the group’s index in Mindanao grew by 0.1 percent as prices of fertilizers, paints and selected soap and other washing compounds were on the uptrend. However, prices of chemicals including animal and vegetable oils and fats in Visayas generally remained stable as the group’s index recorded a zero growth. The group’s national index advanced 0.5 percent.
The food index in Visayas and Mindanao went up 0.5 percent from 0.1 and 2.2 percent, respectively. This was due to price mark-ups in selected fish species, eggs, meat products, some fruits and vegetables in the two areas. Moreover, milk, canned goods and rice also were priced higher in Mindanao. Likewise, the group’s index in Luzon inched up by 0.1 percent as higher prices of vegetables, rice, sugar, meat products and desiccated coconut in the area were noted during the month. In the Philippines, the group’s index went up 0.2 percent. This was however, slower than the 0.4 percent growth last month.
Higher prices of some brewery and malt products effected the 2.7 percent gain in the beverages and tobacco index in Mindanao. Upward adjustments in the prices of selected liquors in Luzon also raised its group’s index in the area by 0.1 percent. In Visayas, no price change was noted in the group’s index while at the national level, it moved up by 0.4 percent.
A 0.2 percent monthly hike in the manufactured goods classified chiefly by materials index in Luzon was triggered by the price increments in lumber, plywood, cement, G.I. sheets and floor tiles during the month. The group’s index in Mindanao grew by 0.1 percent as prices of lumber, plywood, fabricated wire products and non-ferrous metals rose. On the other hand, the group’s index in Visayas recorded a zero growth while movement in the group’s index at the national level was pegged at 0.2 percent.
Price additions on selected magazines and periodicals slightly increased the miscellaneous manufactured articles index in Mindanao by 0.1 percent. In Luzon, higher prices of some undergarments and miscellaneous manufactures noticed during the month were offset by downward adjustments in the prices of sanitary fixtures. These resulted to a zero growth in the group’s index in the area. Meanwhile, prices of miscellaneous manufactured articles generally remained stable in Visayas. In the Philippines, the group’s index retained its previous month’s rate of 0.1 percent.
A zero growth was seen in the machinery and transport equipment index in the four areas during the period.
Notes:
GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
