MARCH 2015
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | March 2015 | February 2015 | March 2014 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 1.9 | 2.2 | 2.2 | 2.0 |
| Month-on-Month | -0.1 | 0.2 | 0.1 |
Year-on-Year
The annual gain in the General Retail Price Index (GRPI) in the National Capital Region (NCR) eased to 1.9 percent in March 2015. Last month and in March 2014, it grew by 2.2 percent. Annual declines were still noted in the indices of mineral fuels, lubricants and related materials and machinery and transport equipment at -18.8 percent and -0.9 percent, respectively. In addition, a slower annual uptick was recorded in the heavily-weighted food index at 5.6 percent; crude materials inedible except fuels index, 0.8 percent; chemicals, including animal and vegetable oils and fats index, 2.0 percent; and manufactured goods classified chiefly by materials index, 2.4 percent. On the other hand, higher annual increments were noted in beverages and tobacco index at 4.5 percent and in miscellaneous manufactured articles index, 1.6 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR dropped by 0.1 percent in March 2015 from its February level.
The 0.6 percent mark-down in the food index was due to price cuts in chicken, eggs, beef, pork, fish, rice, corn, selected fruits and vegetables.
The crude materials inedible except fuels declined by 0.9 percent as gravel and sand were pegged lower during the month.
Price reductions in selected wires and wiring devices caused the machinery and transport equipment index to go down by 0.4 percent.
The beverages and tobacco index inched up by 0.1 percent as prices of selected liquor and wines including beer and cola drink were on the uptrend.
Price hikes in gasoline, diesel fuel and kerosene pulled up the index of mineral fuels, lubricants and related materials by 2.0 percent.
Price add-ons in selected paint products, soap and other washing and cleaning compounds and pharmaceutical products effected a 0.4 percent growth in chemicals, including animal and vegetable oils and fats index.
A 0.1 percent growth was seen in the index of manufactured goods classified chiefly by materials. This was brought about by the upward adjustments in the prices of selected construction materials such as plywood and cement.
The miscellaneous manufactured articles index went up by 0.1 percent as prices of selected clothing items were higher during the month.
