JUNE 2016
Year-on-Year and Month-on-Month Growth Rates
of General Retail Price Index
| All Items | June 2016 | May 2016 | June 2015 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 2.3 | 2.2 | 0.9 | 1.5 |
| Month-on-Month | 0.3 | 0.6 | -0.1 |
Year-on-Year
The year-on-year growth of the General Retail Price Index (GRPI) in the National Capital Region (NCR) further went up by 2.6 percent in June 2016. Last month, it was recorded at 2.2 percent and in June 2015, 0.9 percent. The uptrend was mainly due to the 7.0 percent annual growth registered in the heavily-weighted food index. Higher annual gains were also observed in the indices of beverages and tobacco at 2.3 percent; crude materials, inedible except fuels, 1.8 percent; and manufactured goods classified chiefly by materials, 1.0 percent.
On the contrary, slowdowns in the annual increments were noted in the indices of chemicals, including animal and vegetable oils and fats at 0.8 percent and miscellaneous manufactured articles, 0.3 percent. The index for mineral fuels, lubricants and related materials continued to post negative annual rate at -7.8 percent during the month while a flat growth was seen in machinery and transport equipment index (Table 2).
By Commodity Group, Month-on-Month (Table 3)
The month-on-month increase of the GRPI in NCR slowed down to 0.3 percent in June 2016. Last month, it posted a 0.6 percent growth.
The food index picked up by 0.9 percent in June 2016. Food items such as fresh egg, beef, chicken, fresh fish species, rice, corn, bakery products, fresh fruits, vegetables, sugar and cooking oil were priced higher during the month.
The index for beverages and tobacco gained by 0.6 percent due to upward price adjustments in selected liquors, softdrinks and cigarettes.
Price add-ons in petroleum products such as gasoline, diesel, kerosene and LPG raised the index for mineral fuels, lubricants and related materials by 1.6 percent during the month. This was however, slower compared to the 3.5 percent uptick in May 2016.
The index for crude materials, inedible except fuels rose 0.3 percent. This was brought about by the increments in the prices of gravel and sand.
The index for manufactured goods classified chiefly by materials index advanced by 0.3 percent. Price mark-ups were still observed in selected construction materials such as plywood, cement, steel bars and fabricated wire products.
A 0.2 percent drop in the index for chemicals, including animal and vegetable oils and fats can be attributed to the reduction in the price of thinner.
After a positive growth registered last month, the machinery and transport equipment index fell by 0.4 percent in June 2016. This was brought about by the downward adjustments in selected electric machinery apparatus.
The index for miscellaneous manufactured articles went down by 0.2 percent as prices of some luggages and sporting goods were lower during the period.
