General Wholesale Price Index (2012=100) : June 2022

Table A. Year-on-Year Growth Rates of the GWPI by Area, All Items
in Percent
(2012=100)

_{* Year-on-year change of average GWPI for January to June, 2022 vs. 2021
Source: Survey of Wholesale Prices of Commodities for the GWPI, Philippine Statistics Authority}

Figure 1. Annual Growth Rates of the GWPI by Area, All Items
June 2021 - June 2022
(2012=100)

1. GWPI for the Philippines increased in June 2022

The annual growth rate of GWPI at the national level went up to 9.0 percent in June 2022, from 7.9 percent in May 2022. Its annual change in June 2021 was recorded at 2.2 percent. (Tables A and 2)

The increase was primarily brought about by double-digit annual increase in index for food at 11.4 percent, from 8.8 percent in the previous month. In addition, annual increments were higher in the indices of the following commodity groups during the month:

a. Beverages and tobacco, 7.4 percent;
b. Mineral fuels, lubricants and related materials, 59.9 percent; and
c. Manufactured goods classified chiefly by materials, 8.8 percent.

On the other hand, annual hikes slowed down in the indices of crude materials, inedible except fuels, and chemicals including animal and vegetable oils and fats at 8.4 percent and 5.9 percent, respectively. Moreover, an annual decrease of -0.6 percent was recorded in the index of miscellaneous manufactured articles.

The index of machinery and transport equipment retained its previous month's annual growth rate at 1.4 percent. (Table 2)

2. GWPI in Luzon also increased during the month

Similar with the trend of the national level, the annual growth rate of GWPI in Luzon moved up at a faster pace of 9.4 percent in June 2022, from an annual rate of 8.4 percent in May 2022. Annual growth rate in June 2021 was lower at 2.1 percent. (Tables A and 2)

The 12.1 percent increase in food index primarily caused the uptrend in the GWPI of Luzon. In addition, higher annual upticks were recorded in the indices of the following commodity groups:

a. Beverages and tobacco, 7.3 percent;
b. Mineral fuels, lubricants and related materials, 62.3 percent; and
c. Manufactured goods classified chiefly by materials, 9.7 percent.

On the other hand, annual increases eased in the indices for crude materials, inedible except fuels at 9.4 percent; chemicals including animal and vegetable oils and fats, 6.3 percent; and machinery and transport equipment, 1.4 percent. The index for miscellaneous manufactured articles dropped by -1.1 percent during the month. (Table 2)

3.Higher annual increment was recorded in the GWPI in Visayas in June 2022

The annual change of GWPI in Visayas rose further at an annual rate of 5.2 percent in June 2022, from 4.4 percent in the previous month. Its annual growth rate was observed at 0.4 percent in June 2021. (Tables A and 2)

The food index recorded an annual growth of 7.6 percent during the month, primarily driving the faster annual increment in the GWPI of the area. In addition, the mineral fuels, lubricants and related materials index also contributed with 53.9 percent annual increase. Moreover, positive year-on-year change were observed in the indices for beverages and tobacco at 4.7 percent, and chemicals including animal and vegetable oils and fats, 0.9 percent.

The rest of the commodity groups retained their previous month's annual growth rates. (Table 2)

4. GWPI in Mindanao continued to move up during the period

In Mindanao, the GWPI picked up further at an annual rate of 4.6 percent in June 2022, from 3.6 percent in the previous month. Its annual growth rate in June 2021 was registered at 4.8 percent. (Tables A and 2)

Annual upticks during the month were higher in the indices of food at 6.2 percent, and beverages and tobacco at 12.2 percent.

However, annual growths were slower the indices of the following commodity groups during the month:

a. Crude materials, inedible except fuels, 0.2 percent;
b. Mineral fuels, lubricants and related materials, 16.4 percent;
c. Chemicals including animal and vegetable oils and fats, 6.2 percent; and
d. Manufactured goods classified chiefly by materials, 1.7 percent.

The annual growth increments remained at their respective previous month's rates for the indices of machinery and transport equipment, and miscellaneous manufactured articles. (Table 2)

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