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

Annual rate of GRPI in NCR continued to increase at a slower pace in November 2023

The annual rate of GRPI in NCR continued its downtrend as it slowed down further to 2.9 percent in November 2023 from 3.4 percent in October 2023. In November 2022, its year-on-year growth rate was posted at 6.0 percent. (Figure 1, and Tables A, 2, and 4)

The main contributor to the slower annual increase of GRPI in NCR was the slower annual increment recorded in the heavily-weighted food index at 4.7 percent during the month from 5.4 percent in October 2023. This was followed by mineral fuels, lubricants and related materials index, which exhibited a faster annual decline of 3.5 percent in November 2023 from an annual decrease of 0.8 percent in the previous month.

In addition, slower annual increments were noted in the indices of the following commodity groups during the month:

          a. Beverages and tobacco, 4.9 percent from 5.0 percent;
          b. Crude materials, inedible except fuels, 2.5 percent from 3.5 percent;
          c. Chemicals, including animal and vegetable oils and fats, 2.6 percent from 2.8 percent;
          d. Manufactured goods classified chiefly by materials, 1.9 percent from 2.1 percent; and  
          e. Miscellaneous manufactured articles, 1.3 percent from 1.7 percent.

Moreover, the machinery and transport equipment index retained its previous month’s annual rate of 1.3 percent. (Table 2)


 

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