GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||March 2017||February 2017||March 2016||Year-to-date|
The annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) slowed down to 4.4 percent in March 2017. It was registered at 5.1 percent in February 2017 and 1.1 percent during the same month in 2016. Higher annual increments were noted in the indices of beverages and tobacco at 5.6 percent and chemicals, including animal and vegetable oils and fats, 1.6 percent. Meanwhile, the following commodity groups posted slower annual gains during the month:
- Food (8.0%)
- Crude Materials, Inedible Except Fuels (1.8%)
- Mineral Fuels, Lubricants and Related Materials (15.5%)
- Machinery and Transport Equipment and Miscellaneous Manufactured Articles (0.7%)
Annual adjustment recorded in manufactured goods classified chiefly by materials index remained at 1.7 percent. (Table 2)
By Commodity Group, Month-on-Month (Table 3)
The GRPI in NCR went down by 0.2 percent in March 2017. In the previous month, it increased by 0.3 percent.
Food index dropped by 1.0 percent due to lower prices of fish, shrimps, rice, corn, fresh fruits, and vegetables.
Price declines in petroleum products such as gasoline, diesel and kerosene pushed down the index for mineral fuels, lubricants and related materials by 1.0 percent.
The index of beverages and tobacco picked up by 1.2 percent as selected alcoholic beverages, softdrinks and cigarettes were priced higher during the month.
A 0.6 percent growth recorded in crude materials, inedible except fuels index was attributed to higher prices of pulpwood.
The index of chemicals, including animal and vegetable oils and fats inched up by 0.4 percent in March 2017. Price upticks were observed in paints, medicines and selected items for cosmetics and toilet preparations.
The index of manufactured goods classified chiefly by materials moved up by 0.3 percent brought about by upward adjustments in the prices of sewing thread, textiles, cement, hollow blocks, steel bars and G.I. sheets.
The machinery and transport equipment index rose by 0.3 percent during the month. This was effected by higher prices of car battery, light bulbs and selected electrical appliances.
A 0.1 percent growth was still posted in miscellaneous manufactured articles index. Prices of clothing items and school supplies went up during the period.