MARCH 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index: March 2014 and February 2014
| All Items | March 2014 | February 2014 | Year-to-date |
|---|---|---|---|
| Year-on-Year | 2.2 | 1.9 | 2.1 |
| Month-on-Month | 0.1 | -0.1 |
Year-on-Year
The year-on-year change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up to 2.2 percent in March from 1.9 percent in February. The annual hike in the heavily-weighted food index was higher at 3.0 percent in March from 2.8 percent in February; crude materials, inedible except fuels index, 3.2 percent from 0.1 percent; mineral fuels, lubricants and related materials index, 2.9 percent from 1.8 percent; chemicals, including animal and vegetable oils and fats index, 1.6 percent from 1.1 percent; manufactured goods, classified chiefly by materials index, 1.4 percent from 1.2 percent; and machinery and transport equipment index, 0.8 percent from 0.7 percent. On the other hand, slower annual gains were correspondingly noted in the indices of beverages and tobacco and miscellaneous manufactured articles at 3.4 percent and 1.6 percent from their respective previous month’s rates of 4.2 percent and 1.8 percent.
By Commodity Group, Month-on-Month
The GRPI for all items in NCR inched up by 0.1 percent in March from a 0.1 percent drop in February.
A 2.6 percent growth was seen in the index of crude materials, inedible except fuels as prices of gravel and sand went up during the month.
The monthly increment in chemicals, including animal and vegetable oils and fats index at 0.5 percent was due to the upticks in the prices of selected paints and medical and pharmaceutical preparations and cosmetics, soap and other toilet preparations.
Construction materials such as plywood, cement, steel bars and GI corrugated sheets were priced higher during the month. Thus, the manufactured goods classified chiefly by materials index grew by 0.3 percent from zero growth.
The beverages and tobacco index rose 0.1 percent from 0.7 percent last month. This was attributed to mark-ups in the prices of liquors, wines, softdrinks and selected cigarettes.
Upward price adjustments in electrical wires effected a 0.1 growth in the machinery and transport equipment index.
The monthly gain in miscellaneous manufactured articles index slowed to 0.1 percent from 0.6 percent. Higher prices in some ready-made clothing items were tempered by the price decreases in selected plumbing fixtures.
Reductions in the prices of chicken, fish, and vegetables shed down the heavily-weighted food index by 0.1 percent.
The index of mineral fuels, lubricants and related materials declined by 0.8 percent as prices of LPG, diesel fuel and kerosene were on the downtrend.
