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Manila Bulletin devider Business devider Retail prices in Metro Manila grow steady in Aug.

Retail prices in Metro Manila grow steady in Aug.

Published Oct 2, 2023 06:43 am

At A Glance

  • The Philippine Statistics Authority (PSA) reports retail prices in Metro Manila in August remained steady at 3.9 percent, ending five consecutive months of increases.<br>The August rate is lower than the 5.5 percent uptick in August a year earlier.<br>A faster increment was observed in the miscellaneous manufactured articles index at 1.8 percent than the 1.7 percent in July.<br>Slower drops were recorded in the mineral fuels, lubricants, and related materials commodity group in August, down to -5.0 from -15.3 in July.

Retail prices in Metro Manila remained unchanged in August, breaking a streak of five consecutive months of increases, the Philippine Statistics Authority (PSA) reported.

Based on the PSA data, the General Retail Price Index (GRPI) in the National Capital Region (NCR) remained steady at 3.9 percent in August, maintaining the same level as the previous month. 

However, the latest figure is lower than the 5.5 percent growth recorded in August of the previous year.

A faster increment was observed in the miscellaneous manufactured articles index at 1.8 percent, compared to 1.7 percent in July.

Meanwhile, the mineral fuels, lubricants, and related materials commodity group registered a slower drop in August, down to -5.0 from -15.3 in July.

In addition, slower increments were recorded in the following commodities in August compared to July: food (6.9 percent from 8.2 percent); beverages and tobacco (4.9 percent from 6.1 percent); crude materials, inedible except fuels (3.8 percent from 4.0 percent); manufactured goods classified by materials (2.3 percent from 2.5 percent).

Those that retained their previous month’s annual growth rates in August are indices of chemicals, including animal and vegetable oils and fats, and machinery and transport equipment at 3.1 percent and 1.4 percent, respectively

Average GRPI growth in the January to August period was at 5.1 percent.

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Philippine Statistics Authority National Capital Region
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