GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||July 2017||June 2017||July 2016||Year-to-date|
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) was pegged at 3.3 percent in July 2017. It was the same rate registered in June 2017 while it picked up by 2.2 percent in July 2016. Higher annual increases were recorded in the indices of crude materials, inedible except fuels at 2.0 percent and mineral fuels, lubricants and related materials, 5.2 percent. Meanwhile, the annual gain of the food index was slower at 6.1 percent; beverages and tobacco index, 4.4 percent; and manufactured goods classified chiefly by materials index, 1.1 percent. The annual adjustment of chemicals, including animal and vegetable oils and fats index remained at 1.7 percent; machinery and transport equipment index, 0.8 percent; and miscellaneous manufactured articles index, 0.9 percent (see Table 2).
By Commodity Group, Month-on-Month
The increment of GRPI in NCR slowed down to 0.1 percent in July 2017. In the previous month, it rose by 0.3 percent.
The index of crude materials, inedible except fuels went up by 1.0 percent brought about by higher prices of gravel and sand.
Increments in the prices of medicines, bath soap and some items in cosmetics and toilet preparations resulted to a 0.1 percent growth in chemicals, including animal and vegetables oils and fats index.
The index of manufactured goods classified chiefly by materials moved up at a slower pace of 0.1 percent. Higher prices in lumber, hollow blocks, steel bars, G.I. pipes and concrete wire nails were tempered by the declines in the prices of plywood, veneer and cement.
Price reductions in petroleum products such as gasoline, LPG and kerosene pushed down the group’s index for mineral fuels, lubricants and related materials by 0.2 percent.
Food index posted a zero growth during the period due to the offsetting price movements observed among the food items.
The index for machinery and transport equipment likewise had a zero growth during the month. Upward price adjustments noted in electrical wires were offset by the price decreases in electrical switch and PVC pipes.
A zero growth was also noted in the indices of beverages and tobacco and miscellaneous manufactured articles.