JANUARY 2016
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | January 2016 | December 2015 | January 2015 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 1.2 | 1.0 | 1.8 | 1.2 |
| Month-on-Month | 0.0 | -0.1 | -0.2 |
Year-on-Year
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further moved up 1.2 percent in January 2016. It registered 1.0 percent in December 2015 and 1.8 percent for the same period last year. The uptrend was mainly due to the 3.3 percent growth registered in the heavily-weighted food index.
On the other hand, the annual increment in beverages and tobacco index slowed down to 2.6 percent and chemicals, including animal and vegetable oils and fats and miscellaneous manufactured articles, both at 1.0 percent.
Moreover, annual declines were posted in the indices of mineral fuels, lubricants and related materials at -8.9 percent; crude materials inedible, except fuels, -2.2 percent; machinery and transport equipment, -0.4 percent; and manufactured goods classified chiefly by materials, -0.1 percent (Table 2).
Month-on-Month
On a monthly basis, the GRPI in NCR registered a zero percent change in January due to the offsetting movements observed among the commodity groups.
The food index went up by 0.7 percent brought about by higher prices of vegetables, fruits, meat, fish, sugar, cooking oil and other vitamins.
The index of beverages and tobacco likewise inched up 0.1 percent. This was effected by the price increases in whiskey, beer, softdrinks and cigarettes.
Meanwhile, the series of price roll backs in petroleum products such as gasoline, diesel fuel and LPG pushed down the index of mineral fuels, lubricants and related materials by 4.9 percent.
After a positive growth registered last month, the machinery and transport equipment index, declined by 0.4 percent brought about by the price decreases in wires.
Paints and related compound were prices lower during the month. Thus, the index for chemicals, including animal and vegetable oils and fats index went down by 0.3 percent.
The index for manufactured goods classified chiefly by materials dropped by 0.2 percent as prices of plywood and paper and paper products went down during the period in review.
Downward price adjustments in charcoal and sand pushed down the index for crude materials inedible, except fuels by 0.1 percent.
The index for miscellaneous manufactured articles exhibited a flat growth during the month.
