Retail price index in NCR further eases in June

The annual growth of the general retail price index (GRPI) in the National Capital Region (NCR) further eased in June, the Philippine Statistics Authority (PSA) said on Thursday. Data released showed that the GRPI in NCR decelerated to 4.4 percent in June from 4.9 percent in May. It was also lower than the 4.7 percent GRPI recorded in June last year. “The primary contributor to the deceleration of GRPI in NCR during the month was the slower annual increase in the heavily-weighted food index at 9.5 percent from 10.0 percent in May 2023,” the PSA said. This was followed by mineral fuels, lubricants and related materials, which exhibited a faster annual decrease of -16.1 percent in June 2023 from -12.8 percent in May 2023. The PSA said lower annual hikes were also observed in the indices beverages and tobacco, 6.4 percent from 6.9 percent; crude materials, inedible except fuels, 4.5 percent from 7.1 percent; manufactured goods classified chiefly by materials, 2.6 percent from 2.8 percent; and miscellaneous manufactured articles, 1.7 percent from 1.9 percent. Higher annual increases, however, were seen in the indices of chemicals, including animal and vegetable oils and fats at 3.7 percent during the month from 3.5 percent in May 2023; and machinery and transport equipment at 1.4 percent in June 2023 from 1.3 percent in May.

Source: Philippines News Agency