General Retail Price Index in the National Capital Region (2000=100) : October 2016

Reference Number: 

2016-141

Release Date: 

Friday, December 2, 2016
 

OCTOBER 2016


Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index

All Items October 2016 September 2016  October 2015 Year-to-date
Year-on-Year 3.4

3.0

0.5

2.0
Month-on-Month 0.6

0.7

0.2

 

 

        

Year-on-Year

  •           The annual growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further went up to 3.4 percent in October 2016. Last month, it picked up by 3.0 percent and in October 2015, 0.5 percent. This was mainly due to the 7.5 percent annual increase in the heavily-weighted food index. Contributing also to the uptrend were the higher annual gains registered in the indices of chemicals, including animal and vegetable oils and fats at 1.4 percent; machinery and transport equipment, 0.4 percent; manufactured goods classified chiefly by materials, 1.9 percent; and miscellaneous manufactured articles, 0.7 percent. On the other hand, the annual uptick of crude materials, inedible except fuels index slowed down to 0.5 percent. That for beverages and tobacco index remained at 3.1 percent while the index for mineral fuels, lubricants and related materials continued to post negative annual rate at -0.3 percent (Table 2).

            
     

     

     

 By Commodity Group, Month-on-Month (Table 3)

The month-on-month increase of the GRPI in NCR decelerated to 0.6 percent in October 2016. Last month, it recorded a 0.7 percent growth.

  • Food index picked up by 1.3 percent as beef, fresh fish, shrimps, rice, corn, bakery products and vegetables were priced higher during the month.

  • Price increments in petroleum products such as gasoline, diesel, LPG and kerosene pushed up the index for mineral fuels, lubricants and related materials by 2.4 percent.

  • A 0.1 percent growth in chemicals, including animal and vegetable oils and fats index was due to higher prices in medicinal and pharmaceutical preparations such as antiseptic, common cold ointment, cosmetics and some items in toilet preparations.

  • Index for manufactured goods classified chiefly by materials inched up by 0.1 percent. Price hikes were observed in yarns, fabric, and selected construction materials.

  • The growth in machinery and transport equipment index was pegged at 0.1 percent. This was brought about by the upward adjustments in the prices of selected wiring devices.

  • The index for crude materials inedible, except fuels however, dropped by   0.1 percent due to lower prices of sand.

  • A flat growth was noted in the indices of beverages and tobacco and miscellaneous manufactured articles.

 

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