GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||August 2017||July 2017||August 2016||Year-to-date|
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) was pegged at 3.3 percent in August 2017. It was the same rate recorded in July 2017 while its annual rate in August 2016 was posted at 2.3 percent. The index of mineral fuels, lubricants and related materials registered a double-digit annual increase of 10.2 percent in August from 5.2 percent in the previous month. Moreover, higher annual increments were noted in the indices of beverages and tobacco at 4.6 percent; crude materials, inedible except fuels, 3.1 percent; and manufactured goods classified chiefly by materials, 1.3 percent. On the other hand, the annual gain of food index was slower at 5.6 percent; machinery and transport equipment index, 0.6 percent; and miscellaneous manufactured articles index, 0.8 percent. That for chemicals, including animal and vegetable oils and fats index remained at 1.7 percent for three consecutive months now (see Table 2).
By Commodity Group, Month-on-Month
The month-on-month change of GRPI in NCR rose by 0.3 percent in August. In the previous month, its growth was recorded at 0.1 percent.
Petroleum products such as gasoline, LPG, diesel and kerosene were priced higher during the month. Thus, the index of mineral fuels, lubricants and related materials accelerated by 2.2 percent.
Food index picked up by 0.5 percent due to upward adjustments in the prices of egg, beef, sausage, milk, fish, rice, corn, fruits, vegetables, coffee, cooking oil, margarine and fish sauce.
Increments in the prices of liquors, wines, softdrinks and cigarettes resulted to a 0.2 percent growth in beverages and tobacco index.
The index of manufactured goods classified chiefly by materials moved up by 0.4 percent as prices of lumber, plywood, paper products, steel bars, G.I. sheets, G.I. pipes, common wire and finishing nails increased during the month.
Machinery and transport equipment index likewise inched up by 0.1 percent due to price hikes noted in electrical wires and PVC pipes.
The growth in the index of crude materials, inedible except fuels slowed down to 0.3 percent brought about by lower price increases noted in gravel and sand. Prices of other items under the group remained stable during the period.
Upticks in the prices of medicines, bath soap, laundry soap and some items in cosmetics and toilet preparations resulted to a 0.1 percent growth in chemicals, including animal and vegetables oils and fats index.
Miscellaneous manufactured articles index had zero growth during the month. Prices of selected clothing items went up in August. This was however, offset by the decrease in the price of an ordinary faucet.