The month-on-month inflation rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) went up by 0.7 percentage point to 1.0 percent in October from 0.3 percent in September. Higher monthly price increments were registered correspondingly in food items and mineral fuels, lubricants and related materials at 1.3 percent and 3.1 percent in October from their respective rates of 0.6 percent and -0.5 percent in September. Moreover, prices of crude materials, inedible except fuels and chemicals, including animal and vegetable oils and fats increased to 0.1 percent from their respective last month's rates of -0.4 percent and zero growth. Add-ons in the prices of beverages and tobacco and manufactured goods classified chiefly by materials correspondingly remained at 0.1 percent and 0.3 percent while the group's index of machinery and transport equipment still recorded a zero growth rate. Likewise, no price movement was seen in the miscellaneous manufactured articles as it also posted a zero growth rate from 0.1 percent.
Upward price adjustments were noted in selected food items such as chicken, dairy products, fish, vegetables, sugar, coffee and cooking oil. Prices of gasoline, kerosene and LPG were also on the uptrend. Price hikes were also observed in gravel, sand and selected medicinal and pharmaceutical preparations.
On an annual basis, the inflation rate of the GRPI in NCR further picked up to 2.6 percent in October from 2.0 percent in September. Higher annual rates were noticed in the prices of mineral fuels, lubricants and related materials at 5.4 percent in October from -3.2 percent in September. Annual price movements in beverages and tobacco and manufactured goods classified chiefly by materials remained at their last month's rates. The rest of the commodity groups posted slower annual positive rates.
Source: National Statistics Office
Page last revised: December 4, 2007