SEPTEMBER 2014
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | September 2014 | August 2014 | September 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 3.2 | 3.7 | 1.7 | 2.7 |
| Month-on-Month | 0.0 | 0.8 | 0.4 |
Year-on-Year
The annual gain in the General Retail Price Index (GRPI) in the National Capital Region (NCR) slowed down to 3.2 percent in September 2014. Last month, it grew by 3.7 percent and in September 2013, 1.7 percent. Annual declines were still registered in the indices of crude materials, inedible except fuels at -0.2 percent and in mineral fuels, lubricants and related materials, -3.5 percent. Moreover, the annual mark-up in the food index was slower at 6.7 percent; chemicals, including animal and vegetable oils and fats, 2.3 percent and machinery and transport equipment, 0.5 percent. A higher annual increment was however, noted in the manufactured goods classified chiefly by materials index at 2.6 percent and miscellaneous manufactured articles index, 1.7 percent. That for beverages and tobacco index remained at 3.2 percent.
By Commodity Group, Month-on-Month
On a monthly basis, the GRPI in NCR posted a zero growth in September from its August level due to the offsetting price movements among the commodity groups.
Add-ons in the prices of selected fish species, rice, fruits, sugar and ice block effected a 0.2 percent increase in the heavily-weighted food index.
Higher prices in selected liquors, wines and selected softdrinks were noted during the month. Thus, the beverages and tobacco index inched up 0.2 percent.
Upward price adjustments were observed in selected ready-made clothing and footwear items. In addition, a candle was priced higher during the month. These resulted to a 0.2 percent gain in the miscellaneous manufactured articles index.
The monthly change in chemicals, including animal and vegetable oil and fats index went up 0.1 percent as prices of some medicines, soap, washing and cleaning compounds were on the uptrend.
The 0.1 percent drop in the index of manufactured goods classified chiefly by materials was brought about by the price reductions in construction materials such as cement and steel bars.
The machinery and equipment index declined by 0.4 percent as prices of insulated wires were lower during the month in review.
Price roll backs in gasoline, LPG, diesel fuel and kerosene pushed down the index of mineral fuels, lubricants and related materials by 0.9 percent.
No movement was seen in the index of crude materials, inedible except fuels as it exhibited a zero growth during the month.
