Table A. Year-on-Year Growth Rates of the GRPI in NCR, All Items
Source: Retail Price Survey of Selected Commodities for the Generation of Retail Price Index,
Philippine Statistics Authority
Figure 1. Growth Rates of the GRPI in NCR, All Items
July 2021 - July 2022
GRPI in NCR accelerates further in July 2022
The annual growth rate of GRPI in NCR continued its uptrend as it moved up further to 5.1 percent in July 2022, from 4.7 percent in June 2022. This is the highest recorded annual growth rate since April 2011. In July 2021, the annual growth rate of the index was lower at 1.8 percent. (Tables A and 2)
The higher annual growth rate of GRPI was primarily due to the higher annual growth rate in the food index at 6.6 percent, from 5.4 percent in June 2022. Moreover, higher annual increases were also observed in the indices of the following commodity groups:
a. Beverages and tobacco, 5.5 percent;
b. Crude materials, inedible except fuels, 2.4 percent;
c. Chemicals, including animal and vegetable oils and fats, 3.0 percent;
d. Manufactured goods classified chiefly by materials, 3.3 percent;
e. Machinery and transport equipment, 1.1 percent; and
f. Miscellaneous manufactured articles, 1.1 percent.
On the other hand, the annual growth rate of the index for mineral fuels, lubricants and related materials decelerated to 31.6 percent in July 2022, from 36.6 percent in June 2022. (Table 2)
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