December 2007

• Month-on-Month

  The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) gained by 1.1 percentage points to 1.6 percent in December from 0.5 percent in November. Higher monthly price adjustments were noticed in food items and beverages and tobacco at 2.2 percent and 0.5 percent respectively from 0.3 percent. On the other hand, price increments in mineral fuels, lubricants and related materials and miscellaneous manufactured articles were correspondingly slower at 3.1 percent and 0.1 percent from 3.8 percent and 0.6 percent respectively. Prices of chemicals, including animal and vegetable oils and fats, manufactured goods classified chiefly by materials and machinery and transport equipment remained stable as their group�s index recorded a zero growth.

  Prices of food stuffs such as chicken, beef, milk, cheese, butter, fish, flour, bakery products, fruits, vegetables, sugar, coffee and cooking oil were pegged higher during the month due to bigger demand brought about by the holiday season. Likewise, prices of beer and soft drinks were also on the uptrend.
  

• Year-on-Year

  On an annual basis, the growth rate of the GRPI in NCR further picked up to 5.0 percent in December from 3.6 percent in November. The annual increase in the food index went up to 5.0 percent in December from 3.3 percent in November; beverages and tobacco, 1.8 percent from 1.6 percent; crude materials, inedible except fuels, 3.2 percent from 2.9 percent and mineral fuels, lubricants and related materials, 18.9 percent from 13.3 percent. Price gains in chemicals, including animal and vegetable oils and fats remained at its last month�s rate of 1.2 percent. The rest of the commodity groups posted lower annual positive rates.

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  Source: National Statistics Office
  Manila, Philippines

  Page last revised: June 13, 2008