JULY 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | July 2014 | June 2014 | July 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 3.2 | 2.9 | 2.8 | 2.5 |
| Month-on-Month | 0.5 | 0.5 | 0.2 |
Year-on-Year
The annual gain in the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up to 3.2 percent in July. Higher annual increments were noted in the indices of food at 5.8 percent; chemicals, including animal and vegetable oils and fats, 2.4 percent; and machinery and transport equipment, 1.2 percent. On the other hand, the annual growth in beverages and tobacco index eased to 3.1 percent, crude materials, inedible except fuels index, 1.4 percent; and mineral fuels, lubricants and related materials index, 1.5 percent. The indices of manufactured goods classified chiefly by materials and miscellaneous manufactured articles correspondingly grew at their last month’s rates of 2.1 percent and 1.6 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the movement in the GRPI in NCR remained at 0.5 percent in July.
The monthly uptick in chemicals, including animal and vegetable oils and fats index increased by 0.4 percent. This was brought about by price add-ons in paints and selected medicines.
PVC pipes and electrical wires were priced higher during the month. Thus, the index of machinery and transport equipment went up 0.4 percent.
Price hikes in foodstuffs such as chicken, selected fish species, dairy products, eggs, rice, sugar, cooking oil, whole corn grain and animal feeds resulted to a 0.9 percent growth in its group’s index.
The beverages and tobacco index inched up 0.1 percent due to upward price adjustments in selected liquors and softdrinks.
The monthly growth of manufactured goods classified chiefly by materials index eased to 0.2 percent. Higher prices of textile mill products and sand paper were tempered by the reduction in the prices of construction materials such as cement, steel bars, corrugated GI sheets and nails.
Prices of firewood, charcoal, gravel and sand generally remained stable during the month. Thus, the group’s index of crude materials, inedible except fuels had a zero growth.
The miscellaneous manufactured articles index moved up by 0.1 percent. Price gains were recorded in selected clothing and footwear items.
Price decreases in LPG, diesel fuel and kerosene pushed down the index of mineral fuels, lubricants and related materials by 0.1 percent.
