MANILA — Wholesale prices of commodities at the national level increased at a slower pace in October 2017 from the previous month due mainly to the decline in the prices of chemicals and fats index, the Philippine Statistics Authority (PSA) reported on Friday.
Data from the PSA indicated that the general wholesale price index (GWPI) decelerated to 3.4 percent from 4 percent in September and 3 percent in October 2017.
The annual hike of GWPI in Mindanao was higher at 4.
1 percent in October 2017, while that in Visayas was slower at 3.9 percent and Luzon at 3.3 percent.
The PSA attributed the slower annual gains in October to the indices of crude materials, inedible except fuels (5.9 percent); mineral fuels, lubricants and related materials (15.
3 percent); machinery and transport equipment (0.
8 percent); and miscellaneous manufactured articles (0.1 percent).
It said a higher annual increment of 9.3 percent was posted in beverages and tobacco index.
The food index also went up by 0.9 percent from a zero growth in the previous month.
On a monthly basis, the GWPI at the national level increased by 0.9 percent in October from 0.7 percent the previous month due to higher upward adjustments in the indices of food and beverage and tobacco.