The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) dropped to -0.3 percent in February from 0.1 percent in January. This was attributed to the declines in the price indexes of food and mineral fuels, lubricants and related materials at -0.8 percent and -1.8 percent respectively from their corresponding January rates of -0.5 percent and 1.9 percent. No price movements were seen in the indexes of crude materials, inedible except fuels and manufactured goods classified chiefly by materials as they exhibited zero growth rates. The same rate of 0.2 percent was noted in miscellaneous manufactured articles index while slower price increments were posted in the rest of the commodity groups.
Downward price adjustments were observed in chicken, eggs, fresh vegetables, gasoline, LPG, kerosene and diesel fuel during the month.
The annual growth rate of the GRPI in NCR decelerated to 3.9 percent in February from 4.0 percent in January. Slower annual rates were observed in food at 4.3 percent in February from 4.6 percent in January; beverages and tobacco, 3.1 percent from 3.7 percent; mineral fuels, lubricants and related materials, 16.0 percent and 16.5 percent; and machinery and transport equipment, 4.6 percent from 4.7 percent. The same rate of 3.2 percent was noted in crude materials, inedible except fuels index. The rest of the commodity groups posted higher annual price gains.
Source: National Statistics Office
Page last revised: April 21, 2010