• Wholesale prices up 2.8% in June

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    The annual growth of the general wholesale price in the Philippines picked up to 2.8 percent in June from 0.3 percent in May, according to the General Wholesale Price Index (GWPI) of the National Statistics Office (NSO).

    Increases were noted in the mineral fuels, lubricants and related materials index; chemicals including animal and vegetable oils and fats index; and miscellaneous manufactured articles index.

    The NSO data added that a slowdown was posted in the indices of food; beverages and tobacco; manufactured goods classified chiefly by materials; and machinery and transport equipment.

    Meanwhile, the crude materials, inedible except fuels index continued to register a negative annual rate of 7.4 percent from -14.1 percent.

    In Luzon, the GWPI advanced 2.4 percent in June from -0.4 percent in May.

    “Higher annual gains were correspondingly observed in the indices of mineral fuels, lubricants and related materials and miscellaneous manufactured articles at 4.3 percent and 0.8 percent from -7.4 percent and 0.6 percent, respectively,” it stated.

    The GWPI in Visayas also moved up by 2.2 percent in June from 0.8 percent in May.

    The NSO showed that food index rose 1.3 percent in June from 1.2 percent in May; mineral fuels, lubricants and related materials index, 4.6 percent from -3.8 percent; and chemicals including animal and vegetable oils and fats index, 1.1 percent from 0.7 percent.

    In Mindanao, the GWPI grew by 6.9 percent from 6.4 percent.

    The NSO said that higher annual increments were noted in the food index at 11.0 percent from 10.1; mineral fuels, lubricants and related materials index, 2.6 percent from 0.1 percent; and miscellaneous manufactured articles index, 3.7 percent from 3.5 percent. MAYVELIN U. CARABALLO

     

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