SEPTEMBER 2012

Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index: September and August 2012

• Year-on-Year

The year-on-year change in the General Retail Price Index (GRPI) in the National Capital Region (NCR) increased to 3.6 percent in September from 3.5 percent in August. The annual adjustment in mineral fuels, lubricants and related materials index went up 3.5 percent in September from -1.0 percent in August; chemicals, including animal and vegetable oils and fats index, 2.6 percent from 2.5 percent; machinery and transport equipment index, 3.9 percent from 3.8 percent; and miscellaneous manufactured materials index, 3.8 percent from 2.3 percent. The rest of the commodity groups have lower annual increments with the index of beverages and tobacco retaining its previous month's rate of 6.1 percent.

 

• By Commodity Group, Month-on-Month

  Compared to last month, the GRPI for all items in NCR moved up at a slower pace of 0.4 percent in September from 1.4 percent in August.
   

  • The downward price adjustments in vegetables in NCR was attributed to sufficient supplies in the markets brought about by the favorable weather conditions which boosted production of vegetables during the month. Enough supplies of aquaculture fish species such as milkfish and tilapia and selected marine fish species like anchovy, roundscad, and other seafoods were also recorded during the month. Price reduction in cooking oil was also noted. All these factors contributed to the decline in the food index by -0.4 percent in September from 2.7 percent in August.
     

  • Price decreases in gravel and sand pushed down the index of crude materials, inedible except fuels by -0.6 percent.
     

  • The manufactured goods classified chiefly by materials index dropped by -0.3 percent from 0.1 percent. Prices of construction materials such as cement, steel bars, GI sheets and nails went down during the month.
     

  • Increments in the prices of selected liquor and wines, softdrinks and cigarettes were noted during the period. The index of beverages and tobacco grew 0.1 percent, slower than the 2.4 percent growth last month.
     

  • Price hikes were seen in paints, medicinal and pharmaceutical products and other chemical products. This was however, offsetted by the reductions in the prices of cosmetics, soaps and other chemical products. Hence, the movement in the index for chemicals, including animal and vegetable oils and fats remained its last month's rate of 0.2 percent.
     

  • Price add-ons in selected furniture and fixtures, footwear, and books raised the miscellaneous manufactured articles index by 1.6 percent from 0.3 percent.
     

  • The monthly upticks in petroleum products primarily effected the 4.6 percent growth in the mineral fuels, lubricants and related materials index. This was however, slower than its previous month's rate of 4.8 percent.