Metro Manila retail price growth eases in January

MANILA, Philippines — Growth in retail prices in Metro Manila eased in January from the previous month as prices of manufactured goods posted slower upticks, according to the Philippine Statistics Authority (PSA).

Preliminary data from the PSA showed the General Retail Price Index (GRPI) in the National Capital Region (NCR) registered a slower increase of 1.4 percent in January from 1.5 percent in December last year.

GRPI growth in NCR in January also eased from the 2.5-percent uptick in the same month last year.

The GRPI measures the changes in the prices at which retailers dispose of their goods to consumers or end-users relative to a base year.

It is used to monitor the economic situation and in forecasting business in the retail trade sector.

“The primary contributor to the deceleration of the annual growth rate of GRPI in NCR was the slower annual increase recorded in the index of manufactured goods classified chiefly by materials at 1.1 percent during the month from 1.5 percent in December 2024,” the PSA said.

It said five other commodity groups posted slower increments in January from the previous month.

In particular, the food commodity group registered slower growth of 1.8 percent in January from the previous month’s 1.9 percent.

For beverages and tobacco, growth slowed to 3.8 percent in January from 3.9 percent in December last year.

Growth in retail prices of crude materials, inedible except fuels eased to 0.6 percent in January from 0.7 percent in the previous month.

Chemicals, including animal and vegetable oils and fats had a slower increase of 2.2 percent in January from the previous month’s 2.5 percent.

Miscellaneous manufactured articles’ retail prices also climbed at a slower pace of 1.1 percent in January from 1.4 percent in December last year.

On the other hand, the index of mineral fuels, lubricants and related materials went up at a faster pace of 0.9 percent in January from 0.3 percent in December 2024.

Meanwhile, machinery and transport equipment retained its previous month’s annual rate of 0.2 percent.