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  • Writer's pictureZiggurat Realestatecorp

GWPI at the national level picked up at a slower rate in February 2023

The annual increase of GWPI (General Wholesale Price Index ) at the national level eased to 6.8 percent in February 2023 from 7.0 percent in January 2023. Its annual growth rate in February 2022 was noted at 5.6 percent.

The lower annual growth in GWPI in February 2023 was primarily brought about by the downtrend in the mineral fuels, lubricants and related materials index at 5.6 percent from 14.2 percent in January 2023. In addition, annual upticks slowed down in the indices of beverages and tobacco at 6.2 percent; machinery and transport equipment, 0.6 percent; and miscellaneous manufactured articles, 2.5 percent.

Moreover, the annual change in the index of crude materials, inedible except fuels dropped further to -31.2 percent in February 2023 from -27.2 percent in the previous month. The index of chemicals including animal and vegetable oils and fats recorded a decline of -1.2 percent in February 2023 from an annual hike of 0.1 percent in the previous month.

Meanwhile, higher annual uptick was exhibited in the index of manufactured goods classified chiefly by materials at 6.1 percent. The index of food retained its January 2023 annual growth rate of 14.2 percent.

Source: PSA

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