PHL wholesale price growth slows down in January

Price growth of wholesale goods eased to an over six-year low of 1.6% in January dragged by slower annual increase in chemicals including animal and vegetable oils and fats, the Philippine Statistics Authority (PSA) reported on Friday.

Preliminary data from the PSA showed the general wholesale price index (GWPI) at the national level slowed down to 1.6% year on year in January from 2.9% a year earlier and 1.9% in December 2025.

This was the slowest growth in over six-years or since the 1.5% growth posted in July 2019.

The PSA attributed the slowdown in bulk price to the index of chemicals including animal and vegetable oils and fats at 2.5% in January from 5.1% in December 2025. The index accounts for 10.1% of the wholesale basket of goods.

The PSA also noted slower growths in beverages and tobacco (2.1% in January from 3.2% in December), crude materials, inedible except fuels (3.1% from 13.3%), and machinery and transport equipment (0.3% from 0.8%).

The mineral fuels, lubricants and related materials index saw a year-on-year decline of 0.4% from a 2.8% growth in December 2025.

Faster annual growths were recorded in food (2.7% in January from 2.2% in December), manufactured goods classified chiefly by materials (0.3% from 0.2%), and miscellaneous manufactured articles (0.6% from 0.4%).

GWPI by major island group were mixed in January.

The GWPI of Luzon eased to 1.5% in January from 3.2% a year earlier and 1.8% last December. This was also the slowest in over six years or since the 1.4% in July 2019.

In the Visayas, GWPI grew by 3.2% year on year from 1.6% in January 2025. However, it was slower than the 3.3% in December 2025.

Meanwhile, GWPI in Mindanao grew 2.3%, accelerating from 0.6% in January 2025 but easing from 2.7% in December last year. This was the slowest in five months or since the 2% in August 2025.– Isa Jane D. Acabal