Year-on-Year Growth Rates, All Items
May 2013 - May 2014
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2014 | ||||
| May | 5.1p | 4.9p | 4.7 | 6.8 |
| April | 5.3 | 5.0 | 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 |
| May | 0.2 | -0.5 | 0.8 | 6.4 |
p - preliminary
Year-on-Year
The year-on-year growth of the General Wholesale Price Index (GWPI) at the national level eased to 5.1 percent in May. It was recorded at 5.3 percent last month and 0.2 percent in May 2013. Slower annual additions were posted in all the commodity groups except in the indices of food and crude materials, inedible except fuels which had higher annual gains of 4.1 percent and 39.8 percent, respectively.
- In Luzon, the annual increase in GWPI slowed down to 4.9 percent in May. Annual increments decelerated in the indices of beverages and tobacco (5.6%); crude materials, inedible except fuels (43.6%); mineral fuels, lubricants and related materials (7.9%); chemicals including animal and vegetable oils and fats (8.7%); manufactured goods classified chiefly by materials (0.8%); machinery and transport equipment (2.4%); and miscellaneous manufactured articles (0.4%). However, the food index moved up by 2.7 percent.
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A slowdown in the annual mark-up of the GWPI was also observed in Visayas at 4.7 percent in May. A slower annual uptick was noted in food index at 5.8 percent; mineral fuels, lubricants and related materials index, 6.8 percent; manufactured goods classified chiefly by naterials, 3.2 percent; and machinery and transport equipment index, 1.8 percent. Meanwhile, the annual rates in the indices of the following commodity groups were on the uptrend: beverages and tobacco, 0.4 percent; crude materials, inedible except fuels, 22.1 percent; and chemicals including animal and vegetable oils and fats, 3.9 percent. The miscellaneous manufactured articles index moved at its last month’s rate of 1.0 percent.
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The annual growth of GWPI in Mindanao improved to 6.8 percent in May. This was brought about by the slower annual increases in beverages and tobacco index at 5.0 percent; mineral fuels, lubricants and related materials index, 7.4 percent; machinery and transport equipment index, 1.2 percent; and miscellaneous manufactured articles index, 2.2 percent. The rest of the commodity groups registered higher annual gains during the month.
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By Commodity Group, Month-on-Month
On a monthly basis, wholesale prices of selected commodities at the national level generally remained stable as the GWPI posted a zero growth. This was due to the mixed price movements registered among the commodity groups. The crude materials, inedible except fuels index rose 1.6 percent; chemicals including animal and vegetable oils and fats, 0.2 percent; and machinery and transport equipment and miscellaneous manufactured articles indices, 0.1 percent. On the other hand, the mineral fuels, lubricants and related materials index further went down to 1.2 percent. Moreover, a slower monthly hike was noted in the food index at 0.5 percent. The beverages and tobacco index registered a zero growth while the manufactured goods classified chiefly by materials index moved at its last month’s rate of 0.2 percent.
Price roll backs in diesel oil, LPG, fuel oil, kerosene and lubricating oil further pushed down the mineral fuels, lubricants and related materials index in Luzon by 1.3 percent. Similarly, the 0.8 percent decrease in its group’s index in Mindanao was brought about by lower prices of LPG in the area. In Visayas, prices of mineral fuels, lubricants and related materials generally remained stable as its group’s index had a zero growth. At the national level, the group’s index went down by 1.2 percent during the month.
Higher prices of rice, corn, chicken, pork, selected fish species, some vegetables, garlic, milk, eggs, beef, wheat flour and bakery products, raised the food index in the three areas: Luzon, 0.6 percent; and Visayas and Mindanao, 0.3 percent. In the Philippines, movement in the group’s index was pegged at 0.5 percent.
Prices of copra went up in Visayas and in Luzon. Thus, the indices of crude materials, inedible except fuels in the two areas grew by 2.1 percent and 1.6 percent, respectively. Similarly, upward adjustment in the prices of charcoal effected a 0.6 percent increase in its group’s index in Mindanao during the month. All these factors caused a 1.6 percent growth in the group’s national index.
The chemicals including animal and vegetable oils and fats index in Mindanao inched up 0.3 percent as prices of some paints and other chemical products were up during the month. Meanwhile, higher prices of selected washing and cleaning compounds in Visayas and price hikes in paints, other chemical products and other medical and pharmaceutical preparations in Luzon pushed up the group’s index in the two areas by 0.2 percent. At the national level, the group’s index also gained 0.2 percent.
A 0.1 percent uptick in the index for machinery and transport equipment in Visayas was brought about by the price add-ons in some insulated electrical wires in the area. In Luzon and Mindanao, no price changes were seen in the machinery and transport equipment during the month. The group’s national index grew by 0.1 percent.
In Visayas, prices of selected sanitary fixtures were on the uptrend. Thus, a 0.1 percent add-on was posted in the miscellaneous manufactured articles index in the area and in the Philippines. Meanwhile, prices of miscellaneous manufactured articles in Luzon and in Mindanao remained stable as their indices had zero growths.
During the month, price mark-ups were seen in plywood, cement, rubber tires and other concrete products in Mindanao and Luzon. Thus, the manufactured goods classified chiefly by materials index in Mindanao rose 0.5 percent and in Luzon, 0.1 percent. Upward adjustment in the prices of other basic ferrous metals in Luzon also contributed to the increase. In Visayas, no price movement was seen in the manufactured goods classified chiefly by materials, thus, its index had a zero growth. At the national level, the monthly change in the group’s index was registered at 0.2 percent.
A zero growth was posted in the beverages and tobacco index in Luzon, Visayas, Mindanao and at the national level.
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).
