The monthly change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to -0.1 percent in March from 0.5 percent in February. This was attributed to the -1.2 percent and -0.1 percent declines in the heavily weighted food and machinery and equipment indexes. In addition price hike in beverages and tobacco was slower at 0.6 percent from 0.8 percent. Prices of crude materials, inedible except fuels and miscellaneous manufactured articles still remained stable as their group's index recorded a zero growth during the month. The rest of the commodity groups posted higher monthly growth rates.
Price reductions were noted in chicken, eggs, fish, fresh vegetables, corn, sugar and selected electrical wires and wiring devices.
The same rate of 4.2 percent was still observed in the annual growth rate of the GRPI in NCR. The annual price movement in the beverages and tobacco index was higher at 2.6 percent in March from 2.1 percent in February; mineral fuels, lubricants and related materials, 15.5 percent from 13.6 percent; chemicals, including animal and vegetable oils and fats, 1.4 percent from 1.1 percent and manufactured goods classified chiefly by materials, 2.7 percent from 2.4 percent. Annual hike was however, slower in food index at 6.9 percent from 7.2 percent; machinery and transport equipment, 2.4 percent from 2.5 percent and miscellaneous manufactured articles, 0.9 percent from 1.1 percent.
Source: National Statistics Office
Page last revised: June 4, 2011