The month-on-month inflation rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) went up at a slower pace to 0.5 percent in November from 1.1 percent in October. This was mainly due to the slowdown in the monthly rates posted in the corresponding indices of food and manufactured goods classified chiefly by materials at 0.3 percent and zero growth from 1.3 percent and 0.3 percent, respectively. Add-ons in the prices of chemicals, including animal and vegetable oils and fats remained at 0.1 percent. On the other hand, the rest of the commodity groups posted higher monthly positive rates.
Lower prices of selected fish species, fruits, vegetables, lumber, steel bars and nails were observed during the month in review. In contrast, price hikes were noted in gasoline, kerosene and LPG.
On an annual basis, the inflation rate of the GRPI in NCR further picked up to 3.6 percent in November from 2.6 percent in October. Faster annual upward price adjustments were noticed in food items at 3.3 percent in November from 2.6 percent in October; beverages and tobacco, 1.6 percent from 1.5 percent; crude materials, inedible except fuels, 2.9 percent from 2.3 percent; mineral fuels, lubricants and related materials 13.3 percent from 5.4 percent; and miscellaneous manufactured articles, 1.6 percent 1.1 percent. Slower annual growth rates were seen in the rest of the commodity groups.
Source: National Statistics Office
Page last revised: January 18, 2008