Table A. Year-on-Year Growth Rates of the GRPI in NCR  
All Items, In Percent  
(2012=100)

                                                  _{*Year-on-year change of average GRPI for January to April, 2023 vs. 2022  
                                                       Source: Philippine Statistics Authority, Retail Price Survey of Selected Commodities for the  
                                                        Generation of Retail Price Index}  
                                         

Figure 1. Growth Rates of the GRPI in NCR, All Items  
April 2022 - April 2023  
(2012=100)  
 

GRPI in NCR continued to increase at a slower pace in April 2023

The annual growth rate of GRPI in NCR decelerated further to 5.4 percent in April 2023 from 6.0 percent in March 2023. In April 2022, its year-on-year growth rate was lower at 3.5 percent. (Figure 1, and Tables A, 2, and 4)

The primary driver of the slower year-on-year change of GRPI in NCR was the faster annual decline in mineral fuels, lubricants and related materials at -8.4 percent during the month from -2.9 percent in the previous month. Another contributor to the downtrend of GRPI was the lower annual increment in the heavily-weighted food index at 10.6 percent in April 2023 from 11.1 percent in March 2023. Manufactured goods classified chiefly by materials ranked as third contributor, recording a slower year-on-year growth rate of 2.8 percent from 3.6 percent in the previous month.

In addition, compared with their annual growth rates in March 2023, lower annual increases were noted in the indices of the following commodity groups during the month:  

          a. Chemicals, including animal and vegetable oils and fats, 3.3 percent from 3.7 percent;  
          b. Machinery and transport equipment, 1.5 percent from 1.6 percent; and  
          c. Miscellaneous manufactured articles, 1.8 percent from 2.0 percent.

On the contrary, higher annual increase was noted in the index of crude materials, inedible except fuels with 6.9 percent in April 2023 from 6.5 percent in March 2023.

Meanwhile, beverages and tobacco index retained its previous month’s annual rate of 7.0 percent. (Table 2)  



 

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