FEBRUARY 2013
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index: February 2013 and January 2013
| All Items | February 2013 | January 2013 | Year-to-date |
|---|---|---|---|
| Year-on-Year | 3.6 | 3.1 | 3.4 |
| Month-on-Month | 0.3 | 0.3 |
Year-on-Year
The annual growth in the General Retail Price Index (GRPI) in the National Capital Region (NCR) increased to 3.6 percent in February from 3.1 percent in January. A higher annual increment was recorded in the heavily-weighted food index at 2.1 percent in February from 1.0 percent in January; beverages and tobacco index, 19.3 percent from 18.5 percent; mineral fuels, lubricants and related materials index, 0.5 percent from zero growth; and miscellaneous manufactured articles index, 4.1 percent from 4.0 percent. The rest of the commodity groups had slower annual rates except for chemicals, including animal and vegetable oils and fats and manufactured goods classified chiefly by materials indices whose annual adjustments correspondingly remained at their last month’s rates of 10.8 percent and 2.0 percent, respectively.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR picked up to 0.3 percent in February, the same rate posted in January.
Price hikes in gasoline, kerosene, diesel fuel and engine oil pushed up the mineral fuels, lubricants and related materials index by 2.5 percent from 0.3 percent.
The manufactured goods, classified chiefly by materials index inched up by 0.1 percent from zero growth due to price add-ons in cement, nails and selected stamped, coated and engraved metals.
Upward price adjustments in other ready-made garments such as men’s brief, undershirt, socks, women’s panty, stockings and selected footwear pushed up the miscellaneous manufactured articles index to 0.1 percent from zero growth.
Price increases in liquor and wines including beer and cigarettes caused the beverages and tobacco index to move up by 1.3 percent. This was however, slower than the 10.4 percent growth recorded last month.
A negative rate of 0.4 percent was still registered in the food index from -0.5 percent. This was brought about by downward price adjustments in chicken, eggs, fish, vegetables, sugar and cooking oil.
A zero growth was noted in crude materials, inedible except fuels index as prices generally remained stable during the month.
Price cuts in paints and other related compounds were offsets by the price upticks in selected medicinal and pharmaceutical preparations including cosmetics, soap and other washing and cleaning compounds. Hence, a zero growth was noticed in the index for chemicals, including animal and vegetable oils and fats.
The machinery and transport materials index had a zero growth during the month in review.
