OCTOBER 2017

GENERAL RETAIL PRICE INDEX IN THE NATIONAL CAPITAL REGION
(2000=100)

Year-on-Year and Month-on-Month Growth Rates

Year-on-Year

The annual increase of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to 2.7 percent in October 2017. Its annual rate in September 2017 was pegged at 3.2 percent and in October 2016, 3.4 percent. The annual growth of food index slowed down to 4.0 percent; crude materials, inedible except fuels index, 3.3 percent; mineral fuels, lubricants and related materials index, 10.7 percent; and machinery and transport equipment index, 0.3 percent. Meanwhile, higher annual increments were observed in the indices of manufactured goods classified chiefly by materials at 1.6 percent and miscellaneous manufactured articles, 0.7 percent. For five consecutive months now, the annual movement of chemicals, including animal and vegetable oils and fats index remained at 1.7 percent. That for beverages and tobacco index likewise retained its previous month’s rate of 4.7 percent (see Table 2).

 

 

By Commodity Group, Month-on-Month

The month-on-month growth of the GRPI in NCR slowed down to 0.2 percent in October. In the previous month, its rate was posted at 0.6 percent.

• The index of crude materials, inedible except fuels declined by 0.1 percent as gravel was priced lower during the period.

• Machinery and transport equipment index fell by 0.1 percent in October. This was due to price decreases in electric lamps, electrical wires and selected electrical appliances.

• Petroleum products such as gasoline, LPG, diesel and kerosene were priced higher during the month. However, prices of engine oil went down this month. Hence, the index of mineral fuels, lubricants and related materials moved up at a slower rate of 2.2 percent.

• A 0.3 percent growth in the index of manufactured goods classified chiefly by materials was brought about by higher prices in plywood, lumber, bond paper, textile yarn fabrics, steel bars, G.I. pipes and common wire nails.

• The miscellaneous manufactured articles index exhibited a 0.1 percent uptick during the period. This was effected by the increments in the prices of selected clothing items during the month.

• The growth in the index of chemicals, including animal and vegetables oils and fats was recorded at 0.1 percent for four consecutive months now. Higher prices of vitamins, medicine, common cold ointment, cleanser, bleacher, insecticides, and some items in cosmetics and toilet preparations were still observed this month.

• The food index had a zero growth during the period. Prices of chicken, beef, evaporated and condensed milk, fresh fish, corn, selected bakery products, fresh fruits, selected chocolate products, cooking oil, margarine and salt went up during the month. These were however, offset by the decreases in the prices of eggs, pork, NFA rice, fresh vegetables and sugar.

• A zero growth was also noted in the index of beverages and tobacco.