MAY 2016
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | May 2016 | April 2016 | May 2015 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 2.2 | 1.6 | 1.5 | 1.3 |
| Month-on-Month | 0.6 | 0.5 | 0.1 |
Year-on-Year
The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) moved up by 2.2 percent in May 2016. It was registered at 1.6 percent in April 2016 and 1.5 percent during the same month in 2015. Higher annual increases were recorded in the indices of food at 5.7 percent; beverages and tobacco, 1.9 percent; crude materials, inedible except fuels, 1.4 percent; and manufactured goods classified chiefly by materials, 0.7 percent.
On the other hand, annual upticks were slower in the indices of chemicals, including animal and vegetable oils and fats at 1.2 percent; machinery and transport equipment, 0.6 percent; and miscellaneous manufactured articles, 0.7 percent. Annual decline was still noted in the index of mineral fuels, lubricants and related materials as it posted -9.3 percent during the month (Table 2).
Month-on-Month
Compared to a month ago level, the GRPI in NCR went up 0.6 percent in May 2016. In April 2016, the growth was 0.5 percent.
The food index picked up by 0.9 percent as beef, chicken, fresh fish species, corn, bakery products, fresh fruits and vegetables were priced higher during the period.
Price increments in petroleum products such as gasoline, diesel, kerosene and LPG pushed up the index for mineral fuels, lubricants and related materials by 3.5 percent.
The index for manufactured goods classified chiefly by materials moved up by 0.3 percent. Price hikes were still observed in selected construction materials.
Upward price adjustments in selected liquors resulted to a 0.9 percent uptick in beverages and tobacco index.
A 0.1 percent growth was still recorded in miscellaneous manufactured articles index. This can be attributed to increases in the prices of selected clothing and footwear items, office and school supplies, and sanitary fixtures.
The index for crude materials, inedible except fuel rose 0.8 percent during the month. This was brought about by higher prices of gravel and sand.
The growth in machinery and transport equipment index was pegged at 0.1 percent due to upward adjustments in the prices of selected electrical materials.
The index for chemicals, including animal and vegetable oils and fats inched up 0.1 percent. This was effected by higher prices of paints and toilet preparations.
