Wholesale Prices of Goods Up in April

Wholesale prices of goods in the country rose in April, mainly on upticks in the indices of mineral fuels and lubricants, manufactured goods, and food, the Philippine Statistics Authority (PSA) reported Friday.

The PSA said the General Wholesale Price Index (GWPI) at the national level climbed by 6.3 percent last April from 5.4 percent the previous month, and 5.1 percent in April 2017.

Higher annual increments were recorded in the indices of mineral fuels, lubricants and related materials (27.5 percent); manufactured goods classified chiefly by materials (2.8 percent); food (1.6 percent); and chemicals, including animal and vegetable oils and fats (0.6 percent).

Slower annual gains were noted in the indices of beverages and tobacco at 14.3 percent and machinery and transport equipment, 1 percent.

The index of crude materials, inedible, except fuels, continued to register a negative annual rate at -15.4 percent, while miscellaneous manufactured articles index sustained its previous month’s growth of 0.9 percent.

On an annual basis, the GWPI in Luzon accelerated by 6.1 percent in April from 5.2 percent the previous month; in Visayas to 7.1 percent from 5.8 percent; and in Mindanao to 8 percent from 6.4 percent.

The PSA said month on month, the GWPI at the national level rose by 0.9 percent last April after it posted a 0.3-percent decline in the previous month.

Higher growths were observed in the indices of beverages and tobacco; manufactured goods classified chiefly by materials; and crude materials, inedible, except fuels index. (PNA)