August 2007

• Month-on-Month

            The month-on-month inflation rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) registered at 0.4 percent in July was slower than the 0.7 percent growth in June. Increases in the prices of the heavily weighted food items slowed down to 0.5 percent in July from 0.6 percent in June; beverages and tobacco, 0.1 percent from 0.2 percent; mineral fuels, lubricants and related materials, 0.4 percent from 3.7 percent; and miscellaneous manufactured articles, negative -0.1 percent from zero growth. Meanwhile, price movement in crude materials, inedible except fuels was recorded at zero. Price additions in chemicals, including animal and vegetable oils and fats remained at 0.1 percent. On the other hand, prices of manufactured goods classified chiefly by materials and machinery and transport equipment correspondingly increased to 0.3 percent and 0.1 percent from their respective last monthÒ³ rates of 0.2 percent and negative -0.1 percent.

            Downward price adjustments were noted in fruits and vegetables, whiskey, LPG, selected men's outer garments and slippers.
   

• Year-on-Year

            On an annual basis, the inflation rate of the GRPI in NCR decelerated to 1.6 percent in July from 2.2 percent in June. Slowdowns were registered in the price increases of food items at 2.5 percent in July from 3.0 percent in June; beverages and tobacco, 1.7 percent from 1.9 percent; manufactured goods classified chiefly by materials, 3.3 percent from 3.6 percent; machinery and transport equipment, 1.2 percent from 1.3 percent; and miscellaneous manufactured articles, 1.6 percent from 1.7 percent. Prices of mineral fuels, lubricants and related materials continued to decline at negative -7.1 percent from negative -4.6 percent while inflation for crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats remained at their rates of 2.2 percent and 2.1 percent, respectively.

   

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  Source:    National Statistics Office
                    Manila, Philippines

  Page last revised:   December 20, 2007