NOVEMBER 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | November 2014 | October 2014 | November 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 3.0 | 2.8 | 2.3 | 2.5 |
| Month-on-Month | 0.1 | 0.1r | -0.1 |
Year-on-Year
The annual gain in the General Retail Price Index (GRPI) in the National Capital Region (NCR) picked up to 3.0 percent in November 2014. Last month, it grew by 2.8 percent and in November 2013, 2.3 percent. A higher annual growth was noted in the heavily-weighted food index at 6.1 percent in November; machinery and transport equipment index, 0.3 percent and miscellaneous manufactured articles index, 1.9 percent. On the other hand, the annual increments in the indices of crude materials, inedible except fuels eased to 4.8 percent; chemicals, including animal and vegetable oils and fats index, 2.2 percent; and manufactured goods classified chiefly by materials index, 2.6 percent. The index of beverages and tobacco moved at its last month’s rate of 3.2 percent. An annual decline was still noted in the index of mineral fuels, lubricants and related materials index at -7.1 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR went up 0.1 percent in November, the same rate posted last month.
The heavily-weighted food index grew by 0.5 percent. This was attributed to price upticks in beef, butter, canned fish, NFA rice, flour, bakery products, selected vegetables, sugar, canned fruits, cooking oil, margarine and iodized salt.
The beverages and tobacco index inched up 0.1 percent due to price increments in beer, gin and some cola drinks.
Price add-ons in selected paints, paint related compounds, some medical and pharmaceutical preparations, cosmetic and toilet preparations and insecticides effected a 0.1 growth in the chemicals, including animal and vegetable oils and fats index.
A 0.1 percent gain was noted in the index of miscellaneous manufactured articles. This was brought about by the upward price adjustments in sanitary fixtures, selected ready-made garments and footwear items.
Price mark-downs were seen in construction materials such as plywood, cement, sand paper, nails and steel bars. This caused the index of manufactured goods classified chiefly by materials to drop by -0.3 percent.
Gravel and sand were quoted lower during the period. Thus, the crude materials, inedible except fuels index declined by -2.0 percent.
Price roll backs in gasoline, LPG, diesel fuel and kerosene pushed down the index of mineral fuels, lubricants and related materials by 2.7 percent.
No movement was seen in the index of machinery and transport equipment as it exhibited a zero growth during the period.
