The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) inched up to 0.5 percent in April from 0.2 percent in March. Higher monthly price increments were registered in the beverages and tobacco index at 0.7 percent in April from 0.6 percent in March; crude materials, inedible except fuels, 1.7 percent from 0.1 percent; and mineral fuels, lubricants and related materials, 4.9 percent from -2.8 percent. On the other hand, a slower monthly positive rate was recorded in food index at 0.2 percent from 0.3 percent while no movement was seen in the miscellaneous manufactured articles index. The rest of the commodity groups posted negative rates.
Upward price adjustments were noted in selected food items such as chicken, canned meat, condensed and powdered milk, cheese, butter, selected fish species, vegetables and legumes. Likewise, prices of wines including cola drink and selected cigarettes were quoted higher during the month in review. Moreover, price hikes were also observed in gasoline, kerosene, gravel and sand.
On an annual basis, the growth rate of the GRPI in NCR further decelerated to 2.1 percent in April from 3.6 percent in March. Except for beverages and tobacco and crude materials inedible except fuels indexes whose annual price gains were higher at 5.3 percent and 4.6 percent respectively, from their last month's corresponding rates of 4.6 percent and 3.5 percent, all the other commodity groups either posted negative or slower annual growth rates. The annual price movement in the food index slowed to 4.9 percent in April from 7.0 percent in March; chemicals, including animal and vegetable oils and fats, 3.2 percent from 4.3 percent; manufactured goods classified chiefly by materials, 0.5 percent from 1.7 percent; and machinery and transport equipment, 1.1 percent from 1.8 percent. The miscellaneous manufactured articles index retained its previous month's rate.
Source: National Statistics Office
Page last revised: July 4, 2009