August 2008
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Month-on-Month
The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) dropped to -0.2 percent in August from 0.7 percent in July. Declines were registered in the price indexes of mineral fuels, lubricants and related materials at -2.4 percent from 8.5 percent; chemicals, including animal and vegetable oils and fats -0.2 percent from 0.2 percent and manufactured goods classified chiefly by materials at -0.1 percent from 0.7 percent. In addition, price hike in the machinery and transport equipment index slowed down to 0.1 percent from 0.2 percent while the food index recorded a zero growth. The rest of the commodity groups posted higher positive monthly rates.
A series of price roll backs was recorded in gasoline and LPG. Likewise, steel bars and other medicinal items were also pegged lower during the month.
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Year-on-Year
On an annual basis, the growth rate of the GRPI in NCR eased to 13.3 percent in August from 14.0 percent in July. Annual growth rates in the food index decelerated to 11.8 percent in August from 12.4 percent in July; mineral fuels, lubricants and related materials, 45.8 percent from 50.8 percent; and chemicals, including animal and vegetable oils and fats, 2.6 percent from 2.9 percent. The annual increase in manufactured goods classified chiefly by materials remained at 12.0 percent. The rest of the commodity groups have higher annual growth rates.
Source: National Statistics Office
Manila, PhilippinesPage last revised: November 6, 2008
