GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Changes in Percent
|August 2018||July 2018||August 2017||Year-to-date|
The annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to 4.1 percent in August 2018. Its annual rate in July 2018 was pegged at 4.2 percent and in August 2017, 3.3 percent. Slower annual increments were registered in the indices of the following commodity groups:
- Beverages and Tobacco (12.0%);
- Crude Materials, Inedible Except Fuels (1.2%);
- Mineral Fuels, Lubricants and Related Materials (22.1%);
- Chemicals, Including Animal and Vegetable Oils and Fats (1.0%);
- Manufactured Goods Classified Chiefly by Materials (2.3%); and
- Machinery and Transport Equipment (1.6%).
On the other hand, annual mark-up of the food index was higher at 4.5 percent while that for miscellaneous manufactured articles index remained at 1.3 percent (see Table 2).
By Commodity Group, Month-on-Month
The month-on-month change of GRPI in NCR went up by 0.2 percent in August 2018. In the previous month, its rate was posted at 0.1 percent.
The heavily-weighted food index picked up by 0.6 percent in August 2018. This was due to higher prices of rice, chicken, pork, canned meat, cheese, canned fish, fruits, vegetables, sugar, cocoa and salt.
Compared with July 2018, price increases in alcoholic beverages, softdrinks and cigarettes were lower in August 2018. Thus, the increment in beverages and tobacco index slowed down to 0.1 percent during the month.
The increase in the index of crude materials, inedible except fuels decelerated to 0.2 percent. Higher prices in sand and charcoal were tempered by the lower price of gravel.
Higher prices of petroleum products such as gasoline, diesel and LPG raised the index of mineral fuels, lubricants and related materials by 0.4 percent during the period. This was the same rate recorded in the previous month.
The index of chemicals, including animal and vegetable oils and fats dropped by 0.1 percent. Prices of paints, medicines and bath soap went down during the month.
The index of machinery and transport equipment fell by 0.1 percent in August due to lower prices of electrical wires, PVC pipes, and selected appliances.
The index for miscellaneous manufactured articles declined by 0.003 percent this month. Prices of faucet, undergarments, selected sporting goods, office and school supplies generally went down during the period.
A zero growth was seen in the index of manufactured goods classified chiefly by materials during the month. Upticks in the prices of plywood, paper products, textile yarn fabrics, hollow blocks, tiles, G.I. pipes, G.I. sheets and sand paper were offset by the decreases in the prices of cement, plain round steel bars and common wire nails.
See more at the General Retail Price Index Main page.