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 June, 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
June 2022 - June 2023
(2012=100)
 

GRPI in NCR continued to decelerate in June 2023

The annual growth of GRPI in NCR continued its downtrend as it slowed down further to 4.4 percent in June 2023 from 4.9 percent in May 2023. In June 2022, its year-on-year increment was recorded at 4.7 percent. (Figure 1, and Tables A, 2, and 4)

The primary contributor to the deceleration of GRPI in NCR during the month was the slower annual increase in the heavily-weighted food index at 9.5 percent from 10.0 percent in May 2023. This was followed by mineral fuels, lubricants and related materials, which exhibited a faster annual decrease of -16.1 percent in June 2023 from -12.8 percent in May 2023, recording its fourth consecutive month of deceleration.

Moreover, compared with their annual growth rates in the previous month, lower annual hikes were observed in the indices of the following commodity groups during the month:

          a. Beverages and tobacco, 6.4 percent from 6.9 percent;
          b. Crude materials, inedible except fuels, 4.5 percent from 7.1 percent;
          c. Manufactured goods classified chiefly by materials, 2.6 percent from 2.8 percent; and
          d. Miscellaneous manufactured articles, 1.7 percent from 1.9 percent.

On the contrary, higher annual increases were noted in the indices of chemicals, including animal and vegetable oils and fats at 3.7 percent during the month from 3.5 percent in May 2023; and machinery and transport equipment at 1.4 percent in June 2023 from 1.3 percent in the previous month. (Table 2)


 

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