Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
|All Items||November 2016||October 2016||November 2015||Year-to-date|
The annual increment of the General Retail Price Index (GRPI) in the National Capital Region (NCR) was higher at 3.6 percent in November 2016. It picked up by 3.4 percent in October 2016 and 0.7 percent during the same month in 2015. The uptrend was mainly due to the 7.7 percent annual growth registered in the heavily-weighted food index. In addition, higher annual gains were also observed in the indices of beverages and tobacco at 3.2 percent; crude materials, inedible except fuels, 0.6 percent; chemicals, including animal and vegetable oils and fats, 1.5 percent; and manufactured goods classified chiefly by materials, 2.0 percent. The index for mineral fuels, lubricants and related materials likewise went up 1.6 percent after it had an annual decline of 0.3 percent in October 2016. On the contrary, a slower annual increase was noted in machinery and transport equipment index at 0.3 percent. That for miscellaneous manufactured articles index moved at its previous month’s rate of 0.7 percent (Table 2).
By Commodity Group, Month-on-Month (Table 3)
Compared to a month ago level, the GRPI in NCR moved up at a slower rate of 0.4 percent in November 2016. Last month, the growth was posted at 0.6 percent.
The index for beverages and tobacco inched up 0.1 percent due to upward price adjustments in cigarettes.
Price increments in petroleum products such as gasoline, diesel, LPG and kerosene raised the index for mineral fuels, lubricants and related materials by 1.4 percent. This was however, slower compared to the 2.4 percent growth recorded last month.
Food index picked up by 0.8 percent as beef, pork, fresh fish, shrimps, rice, corn, selected fruits, vegetables, and cooking oil were priced higher during the month.
The growth in chemicals, including animal and vegetable oils and fats was pegged at 0.1 percent. This was brought about by higher prices of selected paints and medicines.
No movement was seen in the indices of crude materials, inedible except fuels, manufactured goods classified chiefly by materials, machinery and transport equipment, and miscellaneous manufactured articles.