Retail Price Index Declines

The annual rate of the General Retail Price Index (GRPI) in the National Capital Region (NCR) decelerated to 3.6 percent in September from 3.9 percent in August, as reported by the Philippine Statistics Authority (PSA).

The lower annual increase extended to various commodity groups. I Photo: Department of Trade and Industry (DTI Philippines)

The PSA also noted that this figure was lower than the 5.9 percent recorded in September of the previous year.

"The primary factor contributing to the slowdown in the annual increase of GRPI in NCR was the reduced annual increase in the heavily weighted food index, which stood at 6.2 percent for the month, down from 6.9 percent in August 2023," the PSA stated.

The lower annual increase extended to various commodity groups, including crude materials, inedible except fuels, chemicals, including animal and vegetable oils and fats, manufactured goods primarily classified by materials, machinery and transport equipment, and miscellaneous manufactured articles.

However, there was a milder annual decline in the index of mineral fuels, lubricants, and related materials, which registered a 1.9 percent decrease in September 2023 compared to an annual decline of 5 percent in the previous month.

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