GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year-on-Year and Month-on-Month Growth Rates
|All Items||November 2017||October 2017||November 2016||Year-to-date|
The annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) slowed down to 2.4 percent in November 2017. Its annual rate in October 2017 was pegged at 2.7 percent and in November 2016, 3.6 percent. The annual growth of food index decelerated to 2.8 percent and crude materials, inedible except fuels index, 3.0 percent. Meanwhile, higher annual increments were observed in the indices of the following commodity groups:
- Beverages and Tobacco (4.8%);
- Mineral Fuels, Lubricants and Related Materials (11.6%);
- Manufactured Goods Classified Chiefly by Materials (1.8%); and
- Machinery and Transport Equipment (0.5%)
The annual change of chemicals, including animal and vegetable oils and fats index remained at 1.7 percent and miscellaneous manufactured articles index, 0.7 percent (see Table 2).
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR continued to move at a slower pace of 0.1 percent in November. Its rate in the previous month was registered at 0.2 percent.
The food index declined by 0.2 percent during the period due to lower prices of eggs, pork, selected fruits, fresh vegetables, legumes, sauces and sugar.
The index of crude materials, inedible except fuels went down by 0.3 percent as pulpwood (charcoal) was priced lower during the period.
The index of beverages and tobacco inched up by 0.2 percent during the month. Price increments were noted in selected liquors and wines, softdrinks and cigarettes.
Machinery and transport equipment index went up by 0.3 percent in November. This can be attributed to upward price adjustments in electrical wires and switches.
A 0.2 percent increase in manufactured goods classified chiefly by materials index was brought about by higher prices in textile yarn fabrics and in selected construction materials such as lumber, white cement, steel bars, corrugated G.I. sheets, common wire and finishing nails.
Price hikes in gasoline, LPG, diesel and kerosene raised the index of mineral fuels, lubricants and related materials by 2.2 percent.
The index of chemicals, including animal and vegetables oils and fats had zero growth during the period due to the offsetting price movements among the commodities. Prices of vitamins, antiseptic, rubbing alcohol and other cosmetics went up during the month. Meanwhile, declines were seen in the prices of paints, medical goods and toothpaste.
Miscellaneous manufactured articles index likewise exhibited zero growth during the month. Price increases noted in faucet, ladies dresses and selected fabricated plastic products were offset by the lower prices in women’s undergarments and textbooks.