OCTOBER 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | October 2014 | September 2014 | October 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 2.8 | 3.2 | 2.3 | 2.7 |
| Month-on-Month | 0.0 | 0.0 | 0.4 |
Year-on-Year
The annual growth in the General Retail Price Index (GRPI) in the National Capital Region (NCR) eased to 2.8 percent in October 2014. Last month, it grew by 3.2 percent and in October 2013, 2.3 percent. An annual decline was still noted in the index of mineral fuels, lubricants and related materials at -4.7 percent. In addition, the annual gains in the indices of food and machinery and transport equipment correspondingly slowed down to 5.3 percent and 0.2 percent. A higher annual increment was however, registered in crude materials, inedible except fuels index at 0.9 percent; manufactured goods, classified chiefly by materials index, 2.8 percent; and miscellaneous manufactured articles index, 1.8 percent. The indices of beverages and tobacco and chemicals, including animal and vegetable oils and fats moved at their last month’s rates of 3.2 percent and 2.3 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR continued to post a zero growth in October from its September level due to the offsetting price movements among the commodity groups.
The food index increased by 0.1 percent as prices of selected dairy products, fish, fruits, sugar, ice block and poultry feeds went up during the period.
Monthly add-ons in the prices of selected liquors, wines, selected softdrinks and cigarettes resulted to a 0.1 percent gain in the index of beverages and tobacco.
Price increments in selected paints, tingting color for paints, lacquer thinner, some medicines, cleanser, insecticides and rubbing alcohol caused a 0.1 growth in the chemicals, including animal and vegetable oils and fats index.
Price upticks in construction materials such as plywood, selected steel bars and nails were observed this month. Thus, the manufactured goods classified by materials index grew by 0.2 percent.
Higher prices in men’s leather shoes, men’s watch and badminton set pushed up the miscellaneous manufactured articles index by 0.3 percent.
The machinery and equipment index however, declined by 0.1 percent as prices of insulated wires were lower during the month.
Price roll backs in gasoline, LPG, diesel fuel and kerosene further pushed down the index of mineral fuels, lubricants and related materials by 2.7 percent.
No movement was still seen in the index of crude materials, inedible except fuels as it exhibited a zero growth during the period.
