The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) moved up to 0.8 percent in January from 0.3 percent in December. A higher movement was noted in the heavily weighted food index at 1.4 percent in January from 0.1 percent in December; beverages and tobacco and manufactured goods classified chiefly by materials, 0.4 percent from 0.1 percent; and miscellaneous manufactured articles, 0.1 percent from zero growth. On the other hand, monthly uptick in mineral fuels, lubricants and related materials and machinery and transport materials index correspondingly slowed down to 3.0 percent and 0.2 percent from their previous month's rates of 3.7 percent and 0.3 percent, respectively. Prices of crude materials, inedible except fuels remained stable as the group's index still recorded a zero growth during the month. The same previous month's rate of 0.1 percent was observed in chemicals, including animal and vegetable oils and fats index.
Price hikes were noted in beef, pork, fish, fruits, vegetables, sugar, liquor and wines. In addition, price add-ons were also noticed in selected lumber, cement, steel bars, GI sheets, nails and selected plumbing fixtures and fittings. Prices of petroleum products such as gasoline, LPG, kerosene and diesel fuel were also on the uptrend.
The annual growth rate of the GRPI in NCR advanced to 3.3 percent in January from 2.7 percent in December. The annual increment in food index was higher at 5.6 percent in January from 3.6 percent in December; beverages and tobacco, 1.4 percent from 1.2 percent; and mineral fuels, lubricants and related materials, 9.4 percent from 8.2 percent. The annual change in chemicals, including animal and vegetable oils and fats index slowed down to 1.0 percent from 1.1 percent; manufactured goods classified chiefly by materials index, 2.1 percent from 2.2 percent; machinery and transport equipment, 1.9 percent from 2.1 percent and miscellaneous manufactured articles, 1.3 percent from 1.4 percent. Meanwhile, the annual growth of crude materials, inedible except fuels index remained at 1.7 percent.
Source: National Statistics Office
Page last revised: March 8, 2011