General Wholesale Price Index (2012=100) : February 2020

23 April 2020

GENERAL WHOLESALE PRICE INDEX (GWPI)
(2012=100)

FEBRUARY 2020

Table A. Year-on-Year Changes of GWPI, in Percent
(2012=100)

Area February 2020 January 2020 February 2019 Year-to-Date
 Philippines 2.5p 2.9 0.8 2.7
 Luzon 2.4p 3.0 0.7 2.7
 Visayas 3.1 3.2 1.6 3.1
 Mindanao 1.3 1.5 2.1 1.4

                                               p-preliminary

                                               

Figure 1. Year-on-Year Changes of GWPI for All Items by Area, in Percent
February 2019 - February 2020
(2012=100)

GWPI

    

1. GWPI at the national level continues to move up at a slower pace

The annual increase of GWPI at the national level slowed down further to 2.5 percent in February 2020. In the previous month, the annual rate was posted at 2.9 percent and in February 2019, 0.8 percent. (Table A and Table 2)

The indices in February 2020 declined for mineral fuels, lubricants and related materials at annual rate of 0.9 percent; chemicals including animal and vegetable oils and fats, 2.8 percent; and miscellaneous manufactured articles, 1.9 percent. On the other hand, annual gains in the indices of other commodity groups decelerated, except for crude materials, inedible except fuels index, which had a higher annual rate of 13.5 percent during the month than in the same month of the previous year. (Table 2)

2. GWPI in Luzon in February 2020 slowly picks up

In Luzon, GWPI also posted a slower annual rate of 2.4 percent in February 2020. Its annual rate in January 2020 was recorded at 3.0 percent and in February 2019, 0.7 percent. (Table A and Table 2)

On an annual basis, the indices during the month went down for mineral fuels, lubricants and related materials at 0.7 percent; chemicals including animal and vegetable oils and fats, 3.2 percent; and miscellaneous manufactured articles, 2.2 percent. The annual increases in the indices of the rest of the commodity groups were slower, except for crude materials, inedible except fuels index, which recorded a higher annual rate of 13.3 percent during the month compared from the same month of 2019. (Table 2)

3. GWPI in Visayas slows down during the period

The GWPI in Visayas slid at an annual rate of 3.1 percent in February 2020. In the previous month, its annual rate was 3.2 percent and in February 2019, 1.6 percent. (Table A and Table 2)

The indices during the month went down for mineral fuels, lubricants and related materials at annual rate of 6.2 percent; manufactured goods classified by materials, 0.1 percent; and miscellaneous manufactured articles, 0.01 percent.  Moreover, the indices of food moved up slower at an annual rate of 5.7 percent; beverages and tobacco, 15.4 percent; and crude materials, inedible except fuels, 9.0 percent.

On the other hand, the index of chemicals including animal and vegetable oils and fats rose at an annual rate of 2.0 percent, from 1.3 percent annual drop in the previous month, while the machinery and transport equipment index retained its previous month’s annual rate of 0.3 percent. (Table 2)

4. GWPI in Mindanao, likewise, eases during the period in review

The GWPI in Mindanao slid further at an annual rate of 1.3 percent in February 2020. In the previous month, its annual rate was higher at 1.5 percent and in February 2019, 2.1 percent. (Table A and Table 2)

The index of chemicals including animal and vegetable oils and fats commodity group was still on a downtrend as it dropped at an annual rate of 0.9 percent during the month. In addition, annual add-ons during the month were slower in the indices in the following commodity groups:

  • Food, 1.0 percent;
  • Beverages and tobacco, 4.4 percent;
  • Mineral fuels, lubricants and related materials, 2.4 percent; and
  • Manufactured goods classified chiefly by materials, 2.0 percent.

However, the indices moved up faster for crude materials, inedible except fuels commodity group at 21.4 percent, and miscellaneous manufactured articles, 0.5 percent. Furthermore, the index of machinery and transport equipment also went up at an annual rate of 0.8 percent, from 0.8 percent annual decline in the previous month. (Table 2)
 

 

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