AUGUST 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | August 2014 | July 2014 | August 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 3.7 | 3.1r | 1.7 | 2.7 |
| Month-on-Month | 0.8 | 0.4r | 0.3 |
Year-on-Year
The annual growth in the General Retail Price Index (GRPI) in the National Capital Region (NCR) advanced to 3.7 percent in August 2014. Last month, it grew by 3.1 percent and in August 2013, 1.7 percent. A higher annual gain was posted in the heavily-weighted food index at 7.6 percent in August; beverages and tobacco index, 3.2 percent; manufactured goods classified chiefly by materials index, 2.5 percent; and machinery and transport equipment index, 1.1 percent. Annual declines were however, registered in the indices of crude materials, inedible except fuels at -0.2 percent and in mineral fuels, lubricants and related materials, -1.3 percent. The annual rate of increment in miscellaneous manufactured articles index slowed to 1.5 percent while that for chemicals, including animal and vegetable oils and fats index remained at 2.4 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR went up to 0.8 percent in August from its July level.
The food index increased by 2.5 percent due to price hikes in chicken, eggs, dairy products, selected fish species, rice, corn, fruits, vegetables and animal feeds.
Price uptick in construction materials such as lumber, plywood, sand paper, nails and steel bars resulted to 0.3 percent growth in manufactured goods classified by materials index.
Higher prices in selected liquors, wines and softdrinks were noted during the month. Thus, the beverages and tobacco index inched up 0.1 percent.
The machinery and equipment index moved up by 0.1 percent. Price gains were recorded in electrical lamps and selected wiring devices.
Monthly add-on in miscellaneous manufactured articles index remained at 0.1 percent. Upward price adjustments were observed in selected ready-made garments.
Price increments in medicinal products were offset by the price declines in paints and film for color prints. Hence, the group’s index for chemicals, including animal and vegetable oil and fats recorded a zero growth during the month.
The 1.6 percent drop in the index of crude materials, inedible except fuels was brought about by reductions in the prices of gravel and sand.
Price roll backs in gasoline, LPG, diesel fuel and kerosene pushed down the index of mineral fuels, lubricants and related materials by 1.6 percent.
