Wholesale price index up 1.7% in August

THE general wholesale price index (GWPI) at the country level went up by 1.7 percent in August from 1.5 percent in July, the Philippine Statistics Authority (PSA) said.

In a report, PSA said the GWPI in August 2018 was still higher at 2.1 percent, and higher annual markups were observed in the indices of food at 3.2 percent and miscellaneous manufactured articles at 1.6 percent.

Slower annual gains, however, were seen in the indices of beverages and tobacco at 13.5 percent, while annual declines were noted in the indices of crude materials, inedible except fuels at 18.5 percent; mineral fuels, lubricants and related materials, 9.6 percent; and chemicals including animal and vegetable oils and fats, 4.3 percent.

Month-on-month, the general GWPI at the national level increased by 0.4 percent in August from 0.1 percent in July.

“From a zero growth in the previous month, the indices of beverages and tobacco went up by 1.4 percent; and machinery and transport equipment, 0.2 percent,” PSA said.

PSA also said that the increase in the index of miscellaneous manufactured articles was higher at 0.3 percent.

After registering declines in the previous month, the indices of food increased by 0.9 percent; crude materials, inedible except fuels, 1.2 percent; and manufactured goods classified chiefly by materials, 0.1 percent.

PSA, however, said that declines were observed in the indices of mineral fuels, lubricants and related materials at 0.8 percent; and chemicals including animal and vegetable oils and fats at 0.001 percent.