General retail price index in NCR slows in September

The annual rate of the general retail price index (GRPI) in the National Capital Region (NCR) slowed to 3.6 percent in September from 3.9 percent in August. Data released by the Philippine Statistics Authority (PSA) late Tuesday showed that it was also lower than the 5.9 percent recorded in September last year. "The primary contributor to the deceleration in the annual increase of GRPI in NCR was the slower annual increase recorded in the heavily weighted food index at 6.2 percent during the month from 6.9 percent in August 2023," the PSA said. It also observed a lower annual increase in commodity groups, such as crude materials, inedible except fuels, chemicals, including animal and vegetable oils and fats, manufactured goods classified chiefly by materials, machinery and transport equipment, and miscellaneous manufactured articles. A slower annual decrease, however, was recorded in the index of mineral fuels, lubricants, and related materials at 1.9 percent in September 2023 from an annual decline of 5 percent in the previous month.

Source: Philippines News Agency