March wholesale prices decelerate by 1.5%

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The growth of the general wholesale price in the Philippines declined by 1.5 percent in March from 0.2 percent in February, according to the General Wholesale Price Index (GWPI) of the National Statistics Office.

The NSO said that a negative annual rate was still observed in the indices of crude materials, inedible except fuels; mineral fuels, lubricants and related materials; and chemicals including animal and vegetable oils and fats.

It added that slowdowns in the annual hikes were also posted in the indices of food; beverages and tobacco; manufactured goods classified chiefly by materials; machinery and transport equipment; and miscellaneous manufactured articles.

Meanwhile, the GWPI in Luzon continued to drop as it recorded a rate of -2.3 percent in March from -0.4 percent in February.

The NSO added that all the commodity groups either posted negative annual rates or slower annual increments during the month.

An annual decline was noticed in crude materials, inedible except fuels index; mineral fuels, lubricants and related materials index; and chemicals including animal and vegetable oils and fats index.

In Visayas, the annual adjustment in the wholesale prices of commodities went down by 0.2 percent in March from 2.1 percent in February.

Annual decreases were noted in the indices of inedible except fuels and mineral fuels, lubricants and related materials index.

The NSO added that the annual increment in the GWPI in Mindanao moved at a slower pace of 4.3 percent in March from 4.6 percent in February.

The annual change in the mineral fuels, lubricants and related materials index further dropped by 0.8 percent from -0.1 percent.

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