GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||January 2018||December 2017||January 2017||Year-to-date|
The annual change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up by 3.5 percent in January 2018. In the previous month, its annual rate was registered at 2.5 percent and in January 2017, 4.4 percent. All the commodity groups recorded higher annual gains during the month:
- Food (4.7%);
- Beverages and Tobacco (10.1%);
- Crude Materials, Inedible Except Fuels (2.5%);
- Mineral Fuels, Lubricants and Related Materials (11.5%);
- Chemicals, Including Animal and Vegetable Oils and Fats (1.8%);
- Manufactured Goods Classified Chiefly by Materials (2.0%);
- Machinery and Transport Equipment (1.1%); and
- Miscellaneous Manufactured Articles (0.9%) (see Table 2).
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR went up by 1.1 percent in January 2018. Its rate in the previous month was posted at 0.6 percent.
The index of beverages and tobacco accelerated by 5.0 percent during the month. Price increases were observed in liquors, wines, softdrinks and cigarettes.
The index of crude materials, inedible except fuels moved up by 0.2 percent brought about by price increases in gravel and sand.
The soaring prices of petroleum products such as gasoline, diesel, engine oil, kerosene and LPG resulted to a 4.2 percent gain in mineral fuels, lubricants and related materials index.
The index of chemicals, including animal and vegetable oils and fats rose by 0.3 percent. Price hikes were observed in selected paints, medicines, medical goods, bath soap, cosmetics and insecticides.
The machinery and transport equipment index picked up by 0.5 percent due to upward adjustments in the prices of car battery, light bulbs, electrical wires, and selected electrical appliances.
A 0.3 percent increment in miscellaneous manufactured articles index during the month was brought about by the upticks in the prices of selected sanitary fixtures, clothing, footwear, sporting goods, and office supplies.
The heavily-weighted food index moved at its previous month’s rate of 1.4 percent. Higher prices were noted in fresh eggs, beef, canned meat, milk, butter, ice cream, fish, seafoods, rice, corn, bread, fruits, vegetables, raw peanuts, powdered tonic drink, coffee, cooking oil, and sauces.
Selected construction materials such as lumber, plywood, paper products, textile mill products, cement, hollow blocks, steel bars, corrugated G.I. sheets, G.I. pipes, common wire and finishing nails were priced higher during the period. Thus, the manufactured goods classified chiefly by materials index inched up by 0.1 percent.