GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||June 2017||May 2017||June 2016||Year-to-date|
The annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to 3.3 percent in June 2017. It picked up by 3.4 percent in May 2017 and 2.6 percent during the same month a year ago. Higher annual increments were noted in the indices of chemicals, including animal and vegetable oils and fats at 1.7 percent; machinery and transport equipment, 0.8 percent; and miscellaneous manufactured articles,0.9 percent. Meanwhile, the indices of the following commodity groups posted slower annual gains during the month (see Table 2):
- Food (6.3%);
- Beverages and Tobacco (5.2%);
- Crude Materials, Inedible Except Fuels (0.7%);
- Mineral Fuels, Lubricants and Related Materials (4.7%); and
- Manufactured Goods Classified Chiefly by Materials (1.2%).
By Commodity Group, Month-on-Month (Table 3)
The GRPI in NCR inched up by 0.3 percent in June 2017. In the previous month, it went up by 0.1 percent.
The heavily-weighted food index picked up by 0.7 percent due to higher prices of beef, pork, milk, fish, rice, corn and vegetables.
The index of chemicals, including animal and vegetable oils and fats rose by 0.3 percent. Higher prices were observed in medicines, bath soap and some items in toilet preparations.
Manufactured goods classified chiefly by materials index moved up by 0.2 percent brought about by upward adjustments in the prices of selected school supplies, tissue paper, drinking glass and steel bars.
A 0.1 percent growth in the index for machinery and transport equipment index was attributed to higher prices of some electrical appliances.
The index of beverages and tobacco gained by 0.9 percent during the month. Price increments were noted in selected liquors, softdrinks and cigarettes.
Movement in the miscellaneous manufactured articles index remained at 0.1 percent. Price increases were seen in ready-made garments.
Price roll backs in petroleum products such as gasoline, diesel, LPG and kerosene resulted to a 1.3 percent drop in its group’s index for mineral fuels, lubricants and related materials.
The index of crude materials, inedible except fuels had a zero growth during the month.