NCR retail prices slows in September

INQUIRER FILE PHOTO

The growth of retail prices in Metro Manila was slower in September, preliminary data from Philippine Statistics Authority (PSA) showed on Wednesday.

The PSA said the general retail price index (GRPI) grew that month by 1.2 percent year-on-year, losing momentum from the 3.6 percent last year and 1.4 percent in August.

READ: Wholesale, retail price slower in August 2024

For the first nine months, the increase in retail prices across the National Capital Region (NCR) averaged 1.9 percent.

“The primary contributor to the deceleration in the annual growth rate of GRPI in NCR was the faster annual decrease recorded in the index of mineral fuels, lubricants and related materials at 7.5 percent during the month from 1.6 percent annual drop in August,” the statistics agency said.

Contributing to the growth was the index of crude materials, inedible except fuels, at 1 percent from 1.2 percent in the previous month.

On the other hand, faster growth of prices was seen in beverages and tobacco with 3.5 percent, accelerating from 2.4 percent in August. This was followed by chemicals, including animal and vegetable oils and fats at 2.4 percent from 2.2 percent, previously.

Meanwhile, the indices for machinery and transport equipment maintained growth at 0.3 percent, while miscellaneous manufactured articles grew by 1.5 percent.