GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Changes in Percent
|December 2018||November 2018||December 2017||Year-to-date|
Annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) slows down in December 2018
The year-on-year increment of GRPI in NCR decelerated to 2.7 percent in December 2018. Its annual rate in November 2018 was registered at 3.8 percent and in December 2017, 2.5 percent. Slower annual hikes were observed in the indices of food at 2.5 percent; beverages and tobacco, 11.6 percent; mineral fuels, lubricants and related materials, 5.1 percent; and manufactured goods classified chiefly by materials, 1.9 percent. Meanwhile, annual mark-ups were higher in the indices of crude materials, inedible except fuels at 6.0 percent; chemicals, including animal and vegetable oils and fats, 1.4 percent; and machinery and transport equipment, 2.0 percent. The annual rate of change in miscellaneous manufactured articles index remained at 1.4 percent (see Table 2).
The average annual growth of the GRPI for all items in 2018 rose by 3.9 percent. In 2017, its average annual rate was observed at 3.5 percent. Higher average annual gains were posted in the indices of the following commodity groups:
- Beverages and tobacco (11.9%)
- Crude materials, inedible except fuels (2.2%)
- Mineral fuels, lubricants and related materials (16.8%)
- Manufactured goods classified chiefly by materials (2.3%)
- Machinery and transport equipment (1.6%)
- Miscellaneous manufactured articles (1.2%).
Other commodity groups exhibited lower average annual rates during the year (see Table 2).
GRPI in NCR continues to decrease for three consecutive months now
The month-on-month rate of change of GRPI in NCR declined further by 0.5 percent in December 2018. In the previous month, it decreased by 0.2 percent.
The heavily-weighted food index fell by 0.5 percent in December 2018. This was primarily brought about by lower prices of pork, rice, corn and vegetables.
Downward movement was still noted in the index of mineral fuels, lubricants and related materials as it dropped by 7.1 percent in December 2018. Prices of gasoline, diesel, LPG and kerosene generally went down during the month.
The index of manufactured goods classified chiefly by materials decreased by 0.1 percent during the period. Lower prices were observed in G.I. pipes, aluminum foil, table spoon, and selected paper products.
From a zero growth in the previous month, the index of crude materials, inedible except fuels went up by 2.9 percent in December 2018. This was due to higher prices of gravel, sand and charcoal.
A 0.3 percent increase in machinery and transport equipment index during the month was brought about by the continued increasing prices of selected construction materials such as electrical wires, electric lamps, PVC pipes, car battery and electrical appliances.
Selected paints, medicines, bath soap and insecticides were priced higher during the period. Hence, the index of chemicals, including animal and vegetables oils and fats inched up by 0.1 percent.
The month-on-month growth in beverages and tobacco index in December 2018 was posted at 0.04 percent. This was effected by the price increases in selected alcoholic beverages, soft drinks and cigarettes.
The index of miscellaneous manufactured articles rose by 0.03 percent during the period. Price upticks were seen in selected sanitary fixtures, garments, socks, footwear and selected office supplies.
See more at the General Retail Price Index Main page.