DECEMBER 2015
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | December 2015 | November 2015 | December 2014 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 1.0 | 0.7 | 2.3 | 1.2 |
| Month-on-Month | -0.1 | 0.2 | -0.4 |
Year-on-Year
The year-on-year growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further moved upward at 1.0 percent in December 2015. Last month, it was pegged at 0.7 percent and in December 2014, 2.3 percent. Higher annual increases were noticed in the indices of food and chemicals, including animal and vegetable oils and fats at 2.8 percent and 1.3 percent, respectively. In addition, manufactured goods classified chiefly by materials index rose 0.2 percent and machinery and transport equipment index, 0.1 percent from their corresponding negative annual rates recorded in November 2015 at -0.2 percent and -0.4 percent. On the other hand, slower annual gain was posted in the index of beverages and tobacco at 2.8 percent. Moreover, annual decreases were observed in the indices of crude materials inedible, except fuels at -2.0 percent and mineral fuels, lubricants and related materials, -11.1 percent. The index for miscellaneous manufactured articles retained its previous month’s rate of 1.1 percent (Table 2).
The annual average increment of GRPI for all items for the year 2015 decelerated to 1.2 percent from 2.7 percent in 2014. The annual average of mineral fuels, lubricants and related materials index went down by 17.7 percent and machinery and transport equipment index, -0.6 percent. Moreover, annual upticks in other commodity groups decelerated during the year: food index, 3.8 percent; crude materials inedible, except fuels index, 1.2 percent; chemicals, including animal and vegetable oils and fats index, 1.4 percent; manufactured goods classified chiefly by materials index, 1.0 percent; and miscellaneous manufactured articles index, 1.5 percent. A higher annual average growth of 3.8 percent was however, seen in beverages and tobacco index (Table 2).
Month-on-Month
The month-on-month change of the GRPI in NCR declined by 0.1 percent in December. Last month, it went up by 0.2 percent.
The food index dropped by 0.4 percent due to lower prices of vegetables, fruits, meat, fish, sugar and cooking oil.
The series of price reductions in petroleum products such as gasoline, diesel fuel and kerosene pushed down the index of mineral fuels, lubricants and related materials by 2.4 percent.
After a zero growth registered last month, the index of beverages and tobacco picked up 0.2 percent. This was brought about by the price increases noted in cigarettes.
Upward price adjustments in paints pushed up the index for chemicals, including animal and vegetable oils and fats by 0.7 percent.
The index of manufactured goods classified chiefly by materials likewise inched up 0.5 percent due to higher the prices of lumber and cement.
A 0.1 percent increase in miscellaneous manufactured articles was effected by the price increments of steel bars.
The index for crude materials, inedible except fuels exhibited a flat growth during the month.
