The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further picked up to 2.4 percent in May from 1.9 percent in April. The monthly price increases in food items were higher at 2.4 percent in May from 2.2 percent in April; beverages and tobacco, 0.7 percent from 0.1 percent; mineral fuels, lubricants and related materials, 6.5 percent from 4.6 percent; and manufactured goods classified chiefly by materials, 2.1 percent from 0.9 percent. Prices of miscellaneous manufactured articles remained stable as the groupÃƒâ€™Ã‚Â³ index still recorded a zero growth while the rest of the commodity groups posted slower positive growth rates.
Prices of food stuffs such as beef, chicken, milk and milk products, fish, rice, bakery products, fruits, vegetables and cooking oil were on the uptrend. Likewise, price hikes were also noted in wine, liquor and beer. In addition, LPG, gasoline, kerosene and selected construction materials were also quoted higher during the month in review.
On an annual basis, the growth rate of the GRPI in NCR went up to 11.2 percent in May from 9.0 percent in April. Annual growth rates of all the commodity groups were higher except for crude materials, inedible except fuels and miscellaneous manufactured articles whose annual growth rates correspondingly slowed down to 6.9 percent and 5.6 percent in May from their respective April rates of 7.3 percent and 5.7 percent. Annual growth rate in food index was higher at 11.9 percent in May from 9.4 percent in April; beverages and tobacco, 5.0 percent from 4.3 percent; mineral fuels, lubricants and related materials, 29.9 percent from 25.0 percent; chemicals, including animal and vegetable oils and fats, 2.8 percent from 2.4 percent; manufactured goods classified chiefly by materials, 6.6 percent from 4.6 percent; and machinery and transport equipment, 1.5 percent from 1.4 percent.
Source: National Statistics Office
Page last revised: September 8, 2008