GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Changes in Percent
|May 2018||April 2018||May 2017||Year-to-date|
The annual change of the General Retail Price Index (GRPI) in the National Capital Region (NCR) continued to move at a faster pace of 4.1 percent in May 2018. Its annual change in the previous month was pegged at 4.0 percent and in May 2017, 3.9 percent. Higher annual increases were recorded in the indices of mineral fuels, lubricants and related materials at 20.9 percent; chemicals, including animal and vegetables oils and fats, 1.4 percent; and machinery and transport equipment, 1.6 percent. Meanwhile, the annual increment of food index decelerated to 4.5 percent and beverages and tobacco index, 12.1 percent. Other commodity groups retained their previous month’s rate (see Table 2).
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR went up by 0.2 percent in May 2018. In the previous month, this was posted at -0.1 percent.
Price hikes in petroleum products such as gasoline, LPG, diesel and kerosene raised the index for mineral fuels, lubricants and related materials by 5.1 percent.
Prices of paints, medicine, bath soap, cosmetics, and insecticides picked up during the month. Hence, the index of chemicals, including animal and vegetables oils and fats inched up by 0.1 percent.
A 0.1 percent increment in miscellaneous manufactured articles index during the period was brought about by higher prices in selected garments, footwear, textbooks, magazine and umbrella.
Price increases were observed in alcoholic beverages, soft drinks and cigarettes. Thus, the beverages and tobacco index rose by 0.3 percent during the period. This was however, slower than the 0.6 percent uptick recorded in the previous month.
The index of manufactured goods classified chiefly by materials gained by 0.1 percent. This was lower compared from a 0.3 percent increase in April 2018. Higher prices in plywood, paper products and textile yarn fabrics were tempered by the declines in the prices of bond paper, folder, other paper products and cooking clay pot.
The heavily-weighted food index dropped by 0.3 percent due to lower prices of eggs, milk, fish, fruits, vegetables, fish sauce.
No movement was seen in the index of crude materials, inedible except fuels as it recorded zero growth during the month.
The index for machinery and transport equipment posted zero growth in May 2018. Upward price adjustments in electrical lamps were offset by the price decreases in selected electrical appliances.
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