The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) went down by -0.1 percent in February from 0.2 percent in January. Prices of food items and mineral fuels, lubricants and related materials correspondingly dropped by -0.5 percent and -1.3 percent from -0.1 percent and 0.4 percent, respectively. In addition, slowdowns were observed in the price increments of crude materials, inedible except fuels at 1.2 percent from 2.3 percent; chemicals, including animal and vegetable oils and fats, 0.3 percent from 0.6 percent; machinery and transport equipment, 0.4 percent from 0.6 percent; and miscellaneous manufactured articles, 0.5 percent from 1.0 percent. On the other hand, price gains in beverages and tobacco and manufactured goods classified chiefly by materials were correspondingly higher by 1.7 percent and 0.6 percent from their respective last month's rates of 0.9 percent and 0.1 percent.
Lower prices of selected food items such as chicken, eggs, vegetables and sugar were recorded during the month in review. Price decreases were also noted in LPG, kerosene and gasoline.
The annual growth rate of the GRPI in NCR picked up to 5.6 percent in February from 5.1 percent in January. All the commodity groups posted higher annual price increases except in chemicals, including animal and vegetable oils and fats index whose annual growth rate remained at 1.8 percent. Annual growth rate for food moved up to 5.1 percent in February from 4.7 percent in January; beverages and tobacco, 4.2 percent from 2.6 percent; crude materials, inedible except fuels, 6.5 percent from 5.5 percent; mineral fuels, lubricants and related materials, 21.1 percent from 19.6 percent; manufactured goods classified chiefly by materials, 2.0 percent from 1.8 percent; machinery and transport equipment, 1.4 percent from 1.0 percent; and miscellaneous manufactured articles, 5.4 percent from 4.9 percent.
Source: National Statistics Office
Page last revised: August 2, 2008