GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||February 2018||January 2018||February 2017||Year-to-date|
The annual change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further moved upward by 3.8 percent in February 2018. Its annual rate in the previous month was pegged at 3.5 percent and in February 2017, 5.1 percent. Higher annual increases were recorded in the following commodity groups:
- Food (5.0%);
- Beverages and Tobacco (11.8%);
- Mineral Fuels, Lubricants and Related Materials (12.0%);
- Manufactured Goods Classified Chiefly by Materials (2.1%);
- Machinery and Transport Equipment (1.3%); and
- Miscellaneous Manufactured Articles (1.0%)
Meanwhile, the annual increment in the index of crude materials, inedible except fuels slowed down to 2.0 percent and chemicals, including animal and vegetables oils and fats index, 1.5 percent (see Table 2).
By Commodity Group, Month-on-Month
The month-on-month gain of the GRPI in NCR slowed down to 0.5 percent in February. In the previous month, its rate was posted at 1.1 percent.
Food index picked up by 0.4 percent in February. This was slower than its previous month’s rate of 1.4 percent. Higher prices were observed in chicken, milk, canned fish, rice and flour. These were however, tempered by the decreases in the prices of other food items particularly fish, fruits and vegetables.
Compared to January 2018, slower price increases were noted in liquors, wines, softdrinks and cigarettes. Thus, the increment in beverages and tobacco index decelerated to 2.7 percent during the period.
Uptick in the index of crude materials, inedible except fuels eased to 0.1 percent. Lower price mark-up was recorded in gravel.
Petroleum products such as gasoline, diesel, kerosene and engine oil were priced higher during the month. Meanwhile, prices of LPG generally went down this month. Hence, the index of mineral fuels, lubricants and related materials moved up at a slower rate of 2.3 percent.
Upward adjustments in the prices of medicines primarily resulted to a 0.1 percent gain in chemicals, including animal and vegetables oils and fats index.
The machinery and transport equipment index inched up by 0.4 percent in February. Prices of car battery, light bulbs and selected electrical wiring devices were higher during the month.
A 0.2 percent increase in miscellaneous manufactured articles index during the period was brought about by the increments in the prices of selected clothing items, sanitary fixtures and fittings.
The manufactured goods classified chiefly by materials index rose by 0.1 percent due to higher prices of selected construction materials.