GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Changes in Percent
|March 2018||February 2018||March 2017||Year-to-date|
The annual change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up by 4.2 percent in March 2018. Its annual growth in the previous month was registered at 3.8 percent and in March 2017, 4.4 percent. Higher annual increments were observed in the indices of the following commodity groups:
- Food (5.9%);
- Beverages and Tobacco (12.1%);
- Mineral Fuels, Lubricants and Related Materials (12.7%); and
- Manufactured Goods Classified Chiefly by Materials (2.3%)
Meanwhile, the annual increases in the indices of crude materials, inedible except fuels slowed down to 1.7 percent and chemicals, including animal and vegetable oils and fats, 1.4 percent. The annual movements in the indices of machinery and transport equipment remained at 1.3 percent and miscellaneous manufactured articles, 1.0 percent (see Table 2).
By Commodity Group, Month-on-Month
The month-on-month growth of the GRPI in NCR eased to 0.2 percent in March. In the previous month, its rate was recorded at 0.5 percent.
The food index declined by 0.2 percent during the period due to lower prices of eggs, pork, corn, selected vegetables and cooking oil.
Price roll backs in petroleum products such as diesel, LPG and kerosene pushed down the index for mineral fuels, lubricants and related materials by 0.5 percent.
Price increases were observed in alcoholic beverages, soft drinks and cigarettes. Thus, the beverages and tobacco index went up by 1.6 percent during the period. This was however, slower than its rate in February 2018 at 2.7 percent.
The growth in machinery and transport equipment index was pegged at 0.3 percent. Upward adjustments in the prices of electric lamps, electrical wires and switch, PVC pipes and selected electrical appliances were noted during the month.
The miscellaneous manufactured articles index rose by 0.1 percent in March 2018. This was slower than the 0.2 percent growth posted in the previous month. Increments in the prices of footwear and sporting goods were tempered by the declines in the prices of paper products, selected clothing items and sanitary fixtures and fittings.
The index of crude materials, inedible except fuels rose by 0.3 percent brought about by the increments in the prices of charcoal and gravel.
The chemicals, including animal and vegetable oils and fats index inched up by 0.2 percent. Higher prices were observed in paints, medicines, bath soap, insecticides and some items in cosmetics and toilet preparations.
The index of manufactured goods classified chiefly by materials moved up by 0.5 percent due to upticks in the prices of selected construction materials.
See more at the General Retail Price Index (GRPI) landing page.