January 2008

• Month-on-Month

  The month-on-month growth rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to 0.2 percent in January from 1.7 percent in December. This was mainly due to the decline in the prices of the items in the heavily weighted food index at -0.1 percent in January from 2.2 percent in December. Likewise, slowdowns were correspondingly registered in the price increments of mineral fuels, lubricants and related materials and miscellaneous manufactured articles at 0.4 percent and 1.0 percent from their respective December rates of 3.1 percent and 2.6 percent. Meanwhile, the rest of the commodity groups posted higher positive monthly growth rates.

  Downward price adjustments were noted in selected food items such as chicken, eggs, vegetables and sugar.
  

• Year-on-Year

  The annual growth rate of the GRPI in NCR at 5.1 percent in January was the same rate recorded in December. Annual price movements of all the commodity groups were higher except for food items whose index moved slower at 4.7 percent in January from 5.0 percent in December. Annual growth rate for beverages and tobacco was higher at 2.6 percent in January from 1.8 percent in December; crude materials, inedible except fuels, 5.5 percent from 3.2 percent; mineral fuels, lubricants and related materials, 19.6 percent from 18.9 percent; chemicals, including animal and vegetable fats and manufactured goods classified chiefly by materials, 1.8 percent from 1.2 percent and 1.7 percent; machinery and transport equipment, 1.0 percent from 0.5 percent; and miscellaneous manufactured articles, 4.9 percent from 3.9 percent.

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  Source: National Statistics Office
  Manila, Philippines

  Page last revised: July 3, 2008