NCR retail price index at 1.6% in May
Credit to Author: ANNA LEAH E. GONZALES| Date: Tue, 02 Jul 2019 16:19:47 +0000
The General Retail Price Index (GRPI) in the National Capital Region (NCR) retained its previous month’s annual rate in May, the Philippine Statistics Authority (PSA) said.
PSA said the annual rate of GRPI in NCR settled at 1.6 percent during the month.
It was however lower from the 4.1 percent in May last year.
“Annual mark-up was higher in food index at 2.3 percent and crude materials, inedible except fuels index at 4.2 percent,” said PSA.
PSA said slower annual gains were reported in the indices of mineral fuels, lubricants and related materials and miscellaneous manufactured articles, both at 0.8 percent, and beverages and tobacco at three percent.
Month-on-month, the general retail price index also retained its previous month’s rate of 0.2 percent.
“The increase in the heavily-weighted food index remained at 0.3 percent in May 2019,” said PSA.
A slight uptick however was reported in the beverages and tobacco index at 0.3 percent due to increase in the price of liquors, wines, softdrinks and cigarettes.
PSA said the index of crude materials, inedible except fuels rose by 0.2 percent in May 2019 after recording four consecutive months of decreases. This was due to higher prices of sand during the period.
Price increases were also seen in the indices of chemicals, including animal and vegetable oils and fats, manufactured goods, and miscellaneous manufactured articles.
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