The monthly change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) inched up by 0.1 percent in July from zero growth in June. Increments recorded in the manufactured goods classified chiefly by materials and machinery and transport equipment indexes were higher at 0.1 percent in July from -0.1 percent in June. On the other hand, slower monthly rates were posted in beverages and tobacco at 0.1 percent from 0.3 percent; chemicals, including animal and vegetable oils and fats, 0.1 percent from 0.2 percent and miscellaneous manufactured articles, 0.2 percent from 0.3 percent. The movement of the food index remained at its previous month's rate of 0.1 percent while the rest of the commodity groups have registered either negative rate or a zero growth.
Price hikes were noted in chicken, eggs, beef, dairy products, selected fish species, vegetables, oil and coffee. Likewise, higher prices were quoted in selected construction materials such as lumber, steel bars, sand paper and nails. Moreover, prices of car battery and selected wiring devices were on the uptrend. Meanwhile, prices of LPG, diesel fuel and kerosene generally declined during the month.
The annual growth rate of the GRPI in NCR increased to 4.0 percent in July from 3.8 percent in June. The annual gain in beverages and tobacco index was higher at 3.4 percent in July from 3.1 percent in June; chemicals, including animal and vegetable oils and fats, 2.3 percent from 2.1 percent; manufactured goods classified chiefly by materials, 2.4 percent from 2.1 percent; machinery and transport equipment, 2.2 percent from 2.1 percent and miscellaneous manufactured articles, 1.6 percent from 1.3 percent. The annual uptick in the food index was however slower at 5.3 percent from 5.4 percent and mineral fuels, lubricants and related materials, 17.8 percent from 18.2 percent. The crude materials, inedible except fuels index continued to register a zero annual growth during the month.
Source: National Statistics Office
Page last revised: September 22, 2011