GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||February 2017||January 2017||February 2016||Year-to-date|
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further climbed by 5.1 percent in February 2017. In the previous month, it picked up by 4.4 percent and in February 2016, 0.6 percent. Higher annual gains were recorded in all the commodity groups except for the index of manufactured goods classified chiefly by materials which retained its previous month’s rate of 1.7 percent (Table 2).
- Food (9.7%)
- Beverages and Tobacco (4.2%)
- Crude Materials, Inedible Except Fuels (2.0%)
- Mineral Fuels, Lubricants and Related Materials (19.5%)
- Chemicals, Including Animal and Vegetable Oils and Fats (1.3%)
- Machinery and Transport Equipment and Miscellaneous Manufactured Articles (0.8%)
By Commodity Group, Month-on-Month (Table 3)
On a monthly basis, the GRPI in NCR went up by 0.3 percent in February 2017. In the previous month, it inched up by 0.1 percent.
The food index rose by 0.1 percent during the month. This was due to higher prices of pork, chicken, fish, shrimps, sauces, cooking oil and margarine.
The beverages and tobacco index moved up by 1.2 percent as selected liquors, wines, softdrinks and cigarettes were priced higher during the month.
A 0.6 percent increase in the index for crude materials, inedible except fuels was brought about by the mark-ups in the prices of pulpwood, gravel and sand.
Price increments in petroleum products such as gasoline, diesel, kerosene and LPG pushed up the group’s index for mineral fuels, lubricants and related materials by 1.9 percent.
The index of chemicals, including animal and vegetable oils and fats rose by 0.4 percent. Higher prices were observed in selected paints, medicines, toilet and bath soap, talcum powder and insecticides.
The machinery and transport equipment index inched up by 0.1 percent due to upward adjustments in the prices of light bulbs and some electrical appliances.
A 0.1 percent growth was recorded in miscellaneous manufactured articles index. Prices of some office and school supplies and clothing and footwear items went up during the period.
No movement was seen in the index for manufactured goods classified chiefly by materials. Price increases in lumber and paper products were offset by the price decreases in plywood during the month.