JULY 2016
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | July 2016 | June 2016 | July 2015 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 2.2 | 2.6 | 1.0 | 1.6 |
| Month-on-Month | 0.1 | 0.3 | 0.5 |
Year-on-Year
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) slowed down to 2.2 percent in July 2016. It was registered at 2.6 percent in June 2016 and 1.0 percent during the same month in 2015. An annual decline of 6.0 percent was observed in mineral fuels, lubricants and related materials index. On the other hand, higher annual increases were recorded in the indices of food at 5.4 percent; beverages and tobacco, 3.1 percent; crude materials, inedible except fuels, 1.6 percent; manufactured goods classified chiefly by materials, 1.2 percent; and chemicals, including animal and vegetable oils and fats, 0.9 percent. The year-on-year change in miscellaneous manufactured articles index remained at 0.3 percent while that for machinery and transport equipment index had a flat growth (Table 2).
By Commodity Group, Month-on-Month (Table 3)
Compared to a month ago level, the increment of GRPI in NCR decelerated to 0.1 percent in July 2016. Last month, it was pegged at 0.3 percent.
Downward price adjustments in gravel and sand pushed down the index for crude materials inedible, except fuels by 0.3 percent.
The index for mineral fuels, lubricants and related materials dropped by 0.7 percent. This was brought about by the price reductions in petroleum products such as gasoline, diesel, LPG and kerosene.
The food index rose by 0.2 percent in July 2016. This was slower compared to 0.9 percent growth last month. Higher prices in meat, fresh milk, rice, corn, fresh fruits, canned fruits and vegetables, sugar, coffee, and cooking oil were tempered by the lower prices in selected fish species and vegetables.
Selected liquors, cigarettes and softdrinks were priced higher during the month. Thus, the index for beverages and tobacco went up 0.8 percent.
The index for manufactured goods classified chiefly by materials index inched up 0.1 percent. This was due to increases in the prices of construction materials such as plywood, cement, tiles and steel bars.
From a negative growth last month, the machinery and transport equipment index moved up 0.1 percent in July 2016. Prices of electrical lamps and fixtures were higher during the month.
The index for chemicals, including animal and vegetable oils and fats rose 0.1 percent during the month. Price gains were noted in some medicinal and pharmaceutical preparations, paints, and insecticides.
No movement was however, noted in the index of miscellaneous manufactured articles as it exhibited a flat growth during the month.
