The general wholesale price index (GWPI) continued its negative trend at -4.5 in March from -1.4 percent in February.

The National Statistics Office (NSO) noted declines in the annual growth rates of crude materials, inedible except fuels at -23.8 percent in March from -16.7 percent in February; mineral fuels, lubricants and related materials, -30.0 percent from -26.6 percent; and machinery and transport equipment, -0.7 percent from 1.9 percent.

Slower annual price adjustments were posted in the following commodity groups: Food, 7.0 percent from 10.8 percent; beverages and tobacco, 6.6 percent from 7.4 percent; chemicals, including animal and vegetable oils and fats, 0.6 percent from 3.5 percent; and manufactured goods classified chiefly by materials, 6.1 percent from 7.5 percent.

NSO said the annual price change in miscellaneous manufactured articles remained at its previous month's rate of 2.3 percent.
 
In Luzon, the annual price movement further dropped to -5.3 in March from -2.2 percent in February brought about by continuous decreases in the respective annual growth rates of crude materials, inedible except fuels and mineral fuels, lubricants and related materials at -25.5 percent and -32.9 percent.

Negative annual price hikes were correspondingly observed in chemicals, including animal and vegetable oils and fats and machinery and transport equipment at -1.3 percent and -1.4 percent from 2.3 percent and 2.0 percent, respectively.