Year-on-Year Growth Rates, All Items
March 2013 - March 2014
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2014 | ||||
| March | 4.5p | 4.1p | 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 |
| 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 |
p - preliminary
Year-on-Year
On an annual basis, the country’s General Wholesale Price Index (GWPI) went up by 4.5 percent in March as higher annual gains were posted in the indices of most of the commodity groups. The food index grew by 3.9 percent; beverages and tobacco index, 6.3 percent; crude materials, inedible except fuels index, 42.8 percent; mineral fuels, lubricants and related materials index, 4.9 percent; chemicals including animal and vegetable oils and fats index, 7.7 percent; and machinery and transport equipment index, 2.5 percent. A slower annual rate was noted in the miscellaneous manufactured articles index at 1.3 percent. In February, the miscellaneous manufactured index had a higher rate of 1.4 percent. The manufactured goods classified chiefly by materials index moved at its last month’s growth of 1.3 percent.
In Luzon, the increase in the annual change of the GWPI at 4.1 percent in March was a result of the annual hike in the heavily-weighted food index at 2.0 percent; beverages and tobacco index, 6.6 percent; crude materials inedible except fuels index, 48.2 percent; mineral fuels, lubricants and related materials index, 4.9 percent; chemicals including animal and vegetable oils and fats index, 9.3 percent; and machinery and transport equipment index, 2.7 percent. The annual increment in the miscellaneous manufactured articles index eased to 0.8 percent while movement in the manufactured goods classified chiefly by materials index remained at 0.9 percent.
Following the same trend at the national level, the annual increment in GWPI in Visayas also picked up to 4.4 percent in March. In February, it was posted at 3.1 percent. During the month, annual rates in the indices of the following commodity groups were on the uptrend: food, 6.3 percent ; crude materials, inedible except fuels, 14.6 percent; mineral fuels, lubricants and related materials, 4.2 percent; and chemicals including animal and vegetable oils and fats, 2.6 percent. A slow-paced growth of 3.6 percent was however, recorded in the index for manufactured goods classified chiefly by materials. The indices for beverages and tobacco; machinery and transport equipment and miscellaneous manufactured articles moved at their respective last month’s rates of 1.7 percent; 1.8 percent; and 1.2 percent.
Likewise, the annual adjustment in the GWPI in Mindanao rose 7.8 percent in March. This was mainly due to the annual increases in the corresponding indices of food and mineral fuels, lubricants and related materials at 14.6 percent and 5.8 percent. Slower annual mark-ups were registered in the indices of chemicals including animal and vegetable oils and fats at 1.3 percent; manufactured goods classified chiefly by materials, 2.0 percent; and machinery and transport equipment, 1.7 percent. The rest of the commodity groups retained their last month’s rate.
By Commodity Group, Month-on-Month
At the national level, the GWPI moved at its last month’s rate of 0.1 percent. Faster monthly rates were seen in the indices of food at 0.2 percent in March; manufactured goods classified chiefly by materials, 0.1 percent; and machinery and transport equipment, 0.7 percent. On the contrary, uptick in beverages and tobacco index slowed to 0.1 percent; crude materials, inedible except fuels index, 1.3 percent; and chemicals including animal and vegetable oils and fats index, 0.4 percent. Negative rates were posted in the indices of mineral fuels, lubricants and related materials at -0.5 percent and miscellaneous manufactured articles, -0.1 percent.
Upward adjustments in the prices of some communication equipment and apparatus, storage batteries and insulated electrical wires were observed in Luzon. Thus, the machinery and transport equipment index in the area grew by 0.9 percent in March. Meanwhile, prices of machinery and transport equipment in Visayas and Mindanao generally remained stable as its group’s index had a zero growth. At the national level, the group’s index rose 0.7 percent.
The food index in Mindanao jumped by 1.8 percent in March as higher prices of selected live animals chiefly for food, rice, corn, sugar, milk and shortening were noted during the month. Likewise, price mark-ups in milk and milk products, rice and some fruits and vegetables pushed up the group’s index in Visayas by 0.1 percent. In Luzon, price add-ons in calamansi, rice, selected live animals chiefly for food, milk and some spices and condiments were offsetted by the reductions in the prices of selected fish species, fruits and vegetables and the downward trend in the prices of copra meal. Hence, a zero growth was recorded in its group’s index in the area. In the Philippines, the group’s index advanced 0.2 percent. In February, the group’s national index moved at -0.1 percent.
A 0.1 percent increment in manufactured goods classified chiefly by materials index in Luzon was due to higher prices of lumber, G.I. sheets and some fabricated wire products. Meanwhile, no price movements were registered in the manufactured goods classified chiefly by materials in Visayas and Mindanao. A 0.1 percent increase was posted in the group’s national index.
Price hikes in copra effected a 2.1 percent gain in the index for crude materials, inedible except fuels in Visayas. The group’s index in Luzon also went up 1.3 percent as prices of copra, rattan, gravel and sand were on the uptrend. In Mindanao, the 0.4 percent growth in the index was also due to price increases in gravel and sand during the period. These factors raised the group’s index in the Philippines by 1.3 percent.
The 0.4 percent uptick in the index for chemicals including animal and vegetable oils and fats was observed in Luzon, Visayas and at the national level. This was brought about by price additions in coconut oil and selected washing and cleaning compounds in Visayas and the price mark-ups in some industrial chemicals, coconut oil and paints in Luzon. In Mindanao, prices of chemicals including animal and vegetable oils and fats generally remained stable during the month as its index had a zero growth.
Higher prices of selected liquors raised the beverages and tobacco index in Luzon by 0.1 percent while in Visayas and Mindanao, no price movement was seen in the group’s index. At the national level, the index moved up by 0.1 percent.
The mineral fuels, lubricants and related materials index in Mindanao rose 1.1 percent as higher prices of gasoline and diesel oil were noticed during the period. In Visayas, the 0.2 percent growth was effected by increments in the prices of LPG and diesel oil during the month. On the other hand, downward adjustments in the prices of crude petroleum oil along with the price rollbacks in some petroleum products pushed down its index in Luzon by 0.6 percent. Thus, the national index decreased by 0.5 percent.
Lower prices of some furniture and fixtures resulted to a 0.1 percent decline in the miscellaneous manufactured articles index in Luzon. In Visayas and Mindanao, no price changes were observed in the miscellaneous manufactured articles during the month. At the national level, the group’s index dropped by 0.1 percent.
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).
