The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up to 0.1 percent in March from -0.1 percent in February. This was attributed mainly to the increments in the prices of the heavily weighted food index at 0.2 percent in March from -0.4 percent in February. In addition, the monthly price increases in crude materials, inedible except fuels index were higher at 0.1 percent in March from zero growth in February; chemicals, including animal and vegetable oils and fats index, 1.2 percent from 0.5 percent; manufactured goods classified chiefly by materials and machinery and transport equipment indices, 0.4 percent from -0.2 percent and 0.1 percent respectively; and miscellaneous manufactured articles, 0.9 percent from 0.1 percent. The same growth was noted in beverages and tobacco index at its February rate of 0.6 percent while mineral fuels, lubricants and related materials index posted a negative rate of -2.8 percent from 1.4 percent.
Price of foodstuffs such as rice, vegetables, chicken, cheese and butter were on the uptrend. Add-ons were observed in medicinal and pharmaceutical products. Price hikes were also noted in gravel, sand, selected lumber, plywood, cement, hollow blocks, GI sheets, electrical wires and footwear made of rubber plastic.
On an annual basis, the growth rate of the GRPI in NCR decelerated to 3.5 percent in March from 4.8 percent in February. Annual price movement in food index fell by 7.0 percent in March from 8.2 percent in February; beverages and tobacco, 4.6 percent from 5.0 percent; crude materials, inedible except fuels, 3.5 percent from 4.0 percent; and manufactured goods classified chiefly by materials, 1.7 percent from 3.2 percent. The rest of the commodity groups however recorded higher annual growth rates.
Source: National Statistics Office
Page last revised: May 27, 2009