MARCH 2016
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | March 2016 | February 2016 | March 2015 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 1.1 | 0.6 | 2.0 | 1.0 |
| Month-on-Month | 0.4 | -0.4 | -0.1 |
Year-on-Year
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) moved up to 1.1 percent in March 2016. It was registered at 0.6 percent in February 2016 and 2.0 percent during the same period last year. The uptrend was mainly due to the 3.3 percent annual growth registered in the heavily-weighted food index. In addition, a 0.8 percent annual growth was seen in the index of crude materials inedible, except fuels.
On the other hand, slowed downs in the annual increments were observed in the indices of beverages and tobacco at 0.9 percent; chemicals, including animal and vegetable oils and fats, 0.8 percent and miscellaneous manufactured articles, 0.7 percent.
Moreover, annual declines were posted in the indices of mineral fuels, lubricants and related materials at -11.1 percent and manufactured goods classified chiefly by materials at -0.1 percent (Table 2).
Month-on-Month
On a monthly basis, the GRPI in NCR went up by 0.4 percent in March. In February 2016, it went down by 0.4 percent.
The food index rose by 0.5 percent during the month. This was brought about by higher prices of eggs, meat, fresh fruits and sugar.
Upward price adjustments in gravel and sand pushed up the index for crude materials inedible, except fuels by 0.8 percent.
Price increases in petroleum products such as gasoline, diesel and kerosene raised the index for mineral fuels, lubricants and related materials by 2.4 percent.
The index of chemicals, including animal and vegetable oils and fats inched up 0.1 percent during the month. Price increments were noted in selected paints and some medicinal and pharmaceutical preparations.
After a flat growth registered last month, the manufactured goods classified chiefly by materials index picked up by 0.2 percent. This was due to price increases in plywood, cement, hollow blocks and steel bars.
The machinery and transport equipment index went up by 0.3 percent as prices of electrical wires, switch, and PVC pipes were higher during the month.
The index for miscellaneous manufactured articles index inched up 0.2 percent. This was attributed to upward adjustments in the prices of sanitary fixtures and selected ready-made garments.
Lower prices of alcoholic beverages pushed down the index for beverages and tobacco by 0.1 percent.
