Year-on-Year Growth Rates, All Items
June 2013 - June 2014
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2014 | ||||
| June | 5.0p | 5.0p | 4.6 | 5.6 |
| May | 5.2 | 5.1 | 4.7 | 6.8 |
| April | 5.3r | 5.0r | 5.2 | 7.0 |
| March | 4.6 | 4.2 | 4.4 | 7.8 |
| February | 4.0 | 3.6 | 3.1 | 6.7 |
| January | 4.8 | 4.4 | 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 |
p - preliminary
Year-on-Year
The annual growth of the General Wholesale Price Index (GWPI) in the Philippines improved to 5.0 percent in June. Last month, it was registered at 5.2 percent and in June 2013, 2.7 percent. The slowdown can be attributed to the lower annual increments in the indices of crude materials, inedible except fuels at 29.0 percent; mineral fuels, lubricants and related materials, 6.6 percent; chemicals including animal and vegetable oils and fats, 6.2 percent; and miscellaneous manufactured articles, 0.5 percent. Higher annual hikes were however noted in the food index at 5.5 percent; manufactured goods classified chiefly by materials index, 1.3 percent; and machinery and transport equipment index, 2.8 percent. The beverages and tobacco index moved at its last month’s rate of 5.0 percent.
In Luzon, the annual change in GWPI slowed to 5.0 percent in June. It resulted from the deceleration in the indices of the following commodity groups: crude materials, inedible except fuels, 30.6 percent; mineral fuels, lubricants and related materials, 6.7 percent; chemicals including animal and vegetable oils and fats, 7.1 percent; and miscellaneous manufactured articles, 0.2 percent. The rest of the commodity groups either had higher annual gains or retained their previous month’s rate.
Similarly, a slow-paced annual growth was recorded in the GWPI in Visayas at 4.6 percent in June. Lower rates were observed in mineral fuels, lubricants and related materials index at 5.0 percent and in chemicals including animal and vegetable oils and fats index, 3.6 percent. On the other hand, upward annual adjustments were seen in the indices of food at 6.2 percent; beverages and tobacco, 0.5 percent; crude materials, inedible except fuels, 23.5 percent; machinery and transport equipment, 1.9 percent; and miscellaneous manufactured articles, 1.1 percent. Movement in the manufactured goods classified chiefly by materials index remained at 3.2 percent.
Following the same trend of the two areas, the annual increase in the GWPI in Mindanao also eased to 5.6 percent in June. The heavily-weighted food index decelerated to 9.3 percent; mineral fuels, lubricants and related materials index, 6.9 percent; and miscellaneous manufactured articles index, 2.1 percent. Meanwhile, higher annual upticks were noted in the indices of beverages and tobacco at 5.1 percent; chemicals including animal and vegetable oils and fats index, 2.0 percent; and manufactured goods classified chiefly by materials index, 2.5 percent. The rest of the commodity groups moved at their last month’s rate.
By Commodity Group, Month-on-Month
Measured from a month ago level, the GWPI at the national level advanced 0.5 percent. Faster monthly rates were correspondingly posted in mineral fuels, lubricants and related materials index at 0.9 percent and in machinery and transport equipment index, 0.6 percent. On the other hand, declines were noticed in the indices of crude materials, inedible except fuels at -2.7 percent and in chemicals including animal and vegetable oils and fats, -0.2 percent. Moreover, the increase in manufactured goods classified chiefly by materials index slowed to 0.1 percent. The beverages and tobacco index had a zero growth while the food and miscellaneous manufactured articles indices moved at their respective last month’s rates of 1.0 percent and 0.1 percent.
Price hikes in gasoline raised the mineral fuels, lubricants and related materials index in Mindanao by 1.1 percent; Luzon, 0.9 percent; and Visayas, 0.6 percent. Higher prices of crude oil and fuel oil in Luzon also contributed to the increase. Thus, the group’s index at the national level went up 0.9 percent.
The machinery and transport equipment index in Luzon rose 0.8 percent as prices of electrical lamps and fixtures and insulated electrical wires were on the uptrend. In Visayas and Mindanao, price add-ons in some electrical appliances and electrical wires in the two areas resulted to a 0.1 percent growth in its index. At the national level, the group’s index gained 0.6 percent.
Lower prices of copra in Luzon pushed down the crude materials, inedible except fuels index in the area by 3.3 percent. On the contrary, the group’s index in Visayas climbed 2.9 percent. This was due to upward adjustments in the prices of copra. In Mindanao, prices of crude materials, inedible except fuels generally remained stable as its index posted a zero growth during the month. A 2.7 percent decline in its group’s index was noted in the Philippines.
The 0.3 percent drop in the chemicals including animal and vegetable oils and fats index in Luzon was triggered by the reductions in the prices of coconut oil in the area. However, price additions in paints, vitamins and other chemical products in Mindanao effected a 0.4 percent increase in the group’s index. In Visayas, the group’s index inched up 0.1 percent as prices of some medical preparations were higher during the month. Movement in the national index fell by 0.2 percent.
Price mark-ups were seen in rubber tires, hollow blocks, tiles, paperboards and glass products in Mindanao. Thus, the manufactured goods classified chiefly by materials index in the area grew by 0.2 percent. In Luzon and Visayas, prices of plywood and tiles went up. Likewise, cement, doors, other millworks, G.I. sheets, and other hardware items were priced higher in Luzon during the month. These factors caused a 0.1 percent gain in its index in the two areas. At the national level, the group’s index moved up by 0.1 percent.
Increased prices of rice, chicken, pork, beef, selected fish species, some vegetables, milk, garlic, sugar, and bakery products pushed up the food index in Luzon by 1.2 percent and in Visayas, 0.6 percent. Higher prices of rice were also observed in Mindanao. However, downward adjustments in the prices of beef, corn grains, instant noodles and selected fruits and vegetables pulled down its group’s index in the area by 0.4 percent. The monthly change in the group’s index in the Philippines was registered at 1.0 percent.
In Visayas, prices of some plumbing fixtures were on the uptrend. Thus, the miscellaneous manufactured articles index in the area and in the Philippines inched up 0.1 percent. In Luzon, prices of selected textbooks were higher while reduction in the prices of some sanitary fixtures was observed during the month. These offsetting price movements effected a zero growth in its group’s in the area. Meanwhile, prices of miscellaneous manufactured articles in Mindanao remained stable as its index had a zero growth.
A 0.1 percent increment in beverages and tobacco index in Visayas was brought about by price add-ons in selected cigarettes. In Luzon, Mindanao and in the Philippines, no movement was noticed in the group’s index during the month.
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).
