On a monthly basis, the General Retail Price Index (GRPI) in the National Capital Region (NCR) posted a zero growth for three consecutive months since November 2011 due to the offsetting monthly rates recorded in the indices. The food index declined by -0.3 percent from -0.2 percent and machinery and transport equipment -0.1 percent from 0.1 percent. Slower monthly increments were also observed in manufactured goods classified chiefly by materials and miscellaneous manufactured articles indices at 0.1 percent from their respective last month's rates of 0.2 percent and 0.3 percent. However, the index of mineral fuels, lubricants and related materials increased by 1.4 percent from -0.7 percent. The same December rates of 0.2 percent and 0.1 percent were correspondingly noted in beverages and tobacco and crude materials, inedible except fuels indices.
Price reductions were noted in fresh vegetables, sugar, cooking oil, cement and selected wiring devices. On the other hand, price hikes were generally observed in petroleum products such as gasoline, LPG, diesel fuel and kerosene.
The annual growth rate of the GRPI in NCR went up at a slower pace of 1.7 percent in January from 2.5 percent in December. Except for crude materials, inedible except fuels index whose annual movement inched up to 0.2 percent in January from 0.1 percent in December, all the other commodity groups exhibited lower annual rates. The annual adjustments in food and machinery and transport equipment indices decelerated to 1.0 percent from 2.8 percent and 1.3 percent respectively; beverages and tobacco index, 2.9 percent from 3.1 percent; mineral fuels, lubricants and related materials index, 7.0 percent from 8.7 percent; chemicals, including animal and vegetable oils and fats index, 2.4 percent from 2.5 percent; manufactured goods classified chiefly by materials index, 2.6 percent from 2.9 percent; and miscellaneous manufactured articles index, 1.3 percent from 1.4 percent.
Source: National Statistics Office
Page last revised: March 3, 2012