Manila: Wholesale prices slowed down in May this year, mainly driven by easing price increases across several commodity groups, the Philippine Statistics Authority (PSA) said.

According to Philippines News Agency, PSA data released Thursday showed that the general wholesale price index (GWPI) slowed to 2.5 percent in May from 3.1 percent in April. Last year, the GWPI was at 3.5 percent. At the national level, the downtrend was mainly due to the faster annual decrease in the index of mineral fuels, lubricants, and related materials.

Faster annual declines were also recorded in the indices of crude materials, inedible except fuels, at 27.2 percent from 23.3 percent in April, and chemicals including animal and vegetable oils and fats at 3.1 percent in May 2026 from 3 percent in the previous month.

The PSA noted that in Luzon, the growth rate of the GWPI slowed to 2.4 percent from 3 percent in April. "The downtrend in the annual growth rate of the GWPI in Luzon was mainly caused by the slower annual increase in the index of mineral fuels, lubricants, and related materials at 37.9 percent in May 2026 from 63.6 percent in the previous month," the PSA said.

In Visayas, the PSA also recorded a slower GWPI at 5.1 percent in May from 5.2 percent in April, mainly due to the faster decrease in the index of food at 6 percent from 6.9 percent the previous month. The PSA said wholesale prices in Mindanao also posted a slower increase, with the GWPI continuing to slow down to 2.2 percent from 2.7 percent in April this year. This was due to the slower annual increase in the index of food at 4.8 percent in May 2026 from 5.6 percent in the previous month.

The GWPI measures the changes in the price levels of commodities that flow into the wholesale trade intermediaries. It aims to monitor the economic situation of the wholesale trade sector and serves as a guide in economic analysis and policy formulation. The PSA stated that the GWPI is also designed as a basis for forecasting business and economic conditions.