GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Changes in Percent
|February 2019||January 2018||February 2018||Year-to-date|
Annual increase of General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerates further in February 2019
The annual growth of GRPI in NCR was still on a downtrend as it continued to move at a slower pace of 1.4 percent in February 2019. Annual rates were higher in January 2019 at 2.0 percent and in February 2018 at 3.8 percent. Annual mark-ups decelerated in the indices of all the commodity groups, except for the index of mineral fuels, lubricants and related materials, which recorded a positive annual rate of 0.7 percent during the month from a 0.6 percent annual decrease in the previous month (see Table 2).
GRPI in NCR declines in February 2019
The month-on-month change of GRPI in NCR went down by 0.1 percent in February 2019. In the previous month, it went up by 0.4 percent.
The heavily-weighted food index dropped by 0.6 percent in February 2019. This was primarily brought about by the lower prices of fish, rice, fruits, vegetables, sugar and cooking oil.
The index of crude materials, inedible except fuels was still on a downward trend, posting 0.4 percent drop in February 2019. Sand and gravel were still priced lower during the month.
Slowdowns in the price increases of paints, selected medical goods and laundry soap resulted to a lower increment registered in the index of chemicals, including animal and vegetables oils and fats at 0.02 percent.
Price upticks in selected clothing and footwear items slightly raised the index of miscellaneous manufactured articles by 0.02 percent. This was, however, slower compared with its previous month’s rate of 0.1 percent.
The index of beverages and tobacco in February 2019 picked up further by 1.0 percent. Higher prices were noted in selected alcoholic beverages and cigarettes during the period.
The index of mineral fuels, lubricants and related materials climbed by 3.7 percent in February 2019. Price hikes were observed in gasoline, diesel, LPG and kerosene during the month.
A zero growth was noted in the index of manufactured goods classified chiefly by materials in February 2019. Price increases in cement, sand paper, and G.I. pipes were offset by the price decreases in lumber, plywood and common wire nails.
The machinery and transport equipment index also had a zero growth in February 2019. Electrical lamps and PVC pipes were priced higher while those for electrical switch and convenient outlets declined during the month.
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