Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

Wholesale price growth of general goods eases in April

PHILIPPINE STAR/ MICHAEL VARCAS

THE year-on-year growth in wholesale prices of general goods slowed in April compared to the rate recorded in March, the Philippine Statistics Authority (PSA) said Wednesday.

The general wholesale price index (GWPI) rose 2.7% year on year in April, against the 2.8% pickup in March, according to preliminary data.

Driving the April outcome were moderating price increases in the following: food (1.9% in April from 2.4% in March); crude materials, inedible except fuels (42.9% from 44.4%); and manufactured goods classified chiefly by materials (0.7% from 0.8%).

The PSA noted faster price growth in mineral fuels, lubricants and related materials (17.9% from 11.9%); chemicals including animal and vegetable oils and fats (5.4% from 5.2%); and machinery and transport equipment (0.6% from 0.5%).

Growth was steady for beverages and tobacco (7.4%) and miscellaneous manufactured articles (0.7%).

Wholesale prices in Luzon registered 2.8% growth in April, easing from 2.9% in March.

In the Visayas, wholesale prices grew 0.7%, reversing the 0.6% drop recorded the previous month.

In Mindanao, wholesale prices rose 4.6% in April from 4.5% previously.

In an e-mail, Security Bank Corp. Chief Economist Robert Dan J. Roces attributed the easing of wholesale prices to mobility restrictions caused by strict lockdowns imposed during the month.

Metro Manila and adjacent provinces were placed under enhanced community quarantine (ECQ) between March 29 and April 11 after a surge in coronavirus disease 2019 (COVID-19) cases. This was later relaxed to a lockdown setting of modified ECQ between April 12 and May 14.

“With the shift to looser community quarantines, expect the GWPI to trend higher in the months ahead,” he said.

The GWPI monitors wholesale trade sector and is among the indices used as a deflator in the PSA’s national accounts. — N. M. A. Bo

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Economy

Forbes 30-under-30 alumnus goes head-to-head with Amazon with smartphone-based retail checkout solution In 2015, MishiPay CEO Mustafa Khanwala waited 20 minutes in a...

Economy

Debenhams is to reopen 97 of its high street stores on Monday for a closing down sale to clear stock before they finally shut...

Editor's Pick

PHILSTAR/MIGUEL DE GUZMAN Singapore — India, South Korea, and Thailand faced mounting coronavirus infections on Thursday, undermining...

Editor's Pick

BW FILE PHOTO WASHINGTON – U.S. Secretary of State Antony Blinken and Philippine Foreign Affairs Secretary Teodoro...

Disclaimer: SecretsOfRichDads.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.

    Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!