On a monthly basis, the General Retail Price Index (GRPI) in the National Capital Region (NCR) went down by -0.3 percent in February from zero growth in January as the heavily-weighted food index further decreased to -1.4 percent from -0.3 percent. The same previous month's rate was observed in crude materials, inedible except fuels index at 0.1 percent while that for miscellaneous manufactured articles index was zero from 0.1 percent. The rest of the commodity groups have higher monthly growth rates.
Price reductions were noted in chicken, selected fish species, fresh vegetables, sugar and cooking oil. On the other hand, price hikes were generally recorded in petroleum products such as gasoline, LPG, diesel fuel and kerosene.
The annual increase in the GRPI in NCR slowed down to 0.9 percent in February from 1.7 percent in January. The annual change in the food index dropped by -1.1 percent from 1.0 percent. Moreover, slower annual gains were posted in beverages and tobacco index at 2.8 percent in February from 2.9 percent in January; chemicals, including animal and vegetable oils and fats, 2.3 percent from 2.4 percent; manufactured goods classified chiefly by materials, 2.4 percent from 2.6 percent; and machinery and transport equipment, 0.7 percent from 1.0 percent. However, the crude materials, inedible except fuels index grew by 0.3 percent from 0.2 percent while the rest of the commodity groups retained their last month's rates.
Source: National Statistics Office
Page last revised: April 20, 2012