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General Retail Price Index in the National Capital Region (2012=100) : February 2024

Release Date:
Release Date: 2024-SSO-041

Table A. Year-on-Year Growth Rates of the GRPI in NCR
All Items, In Percent


February 2023


January 2024


February 2024



                                                  *Year-on-year change of average GRPI for January to February 2024 vs. 2023         
                                                       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
February 2023 - February 2024


Annual rate of GRPI in NCR continued to increase at a slower rate at 2.1 percent in February 2024

The annual rate of GRPI in NCR decelerated to 2.1 percent in February 2024 from 2.5 percent in January 2024. In February 2023, its year-on-year growth rate was recorded at 6.6 percent. (Figure 1, and Tables A, 2, and 4)

The primary contributor to the deceleration of the annual growth rate of GRPI in NCR was the slower annual increase recorded in the heavily-weighted food index at 3.0 percent during the month from 3.7 percent in January 2024.

In addition, slower annual increments were noted in the indices of the following commodity groups in February 2024:

          a. Beverages and tobacco, 4.8 percent from 5.2 percent;
          b. Crude materials, inedible except fuels, 0.7 percent from 1.9 percent;
          c. Chemicals, including animal and vegetable oils and fats, 2.4 percent from 2.7 percent;
          d. Manufactured goods classified chiefly by materials, 1.3 percent from 1.9 percent;
          e. Machinery and transport equipment, 0.7 percent from 1.1 percent; and
          f.  Miscellaneous manufactured articles, 1.1 percent from 1.5 percent.

On the other hand, an annual increase was observed in the index of mineral fuels, lubricants and related materials at 0.2 percent during the month from 1.3 percent annual drop in January 2024. (Table 2)  


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