MANILA – The general retail price index (GRPI) in the National Capital Region (NCR) slowed to 5.4 percent in April.
Data released by the Philippine Statistics Authority (PSA) showed that the retail price index in NCR was at 6 percent in March.
"The primary driver of the slower year-on-year change of GRPI in NCR was the faster annual decline in mineral fuels, lubricants and related materials at -8.4 percent during the month from -2.9 percent in the previous month," the PSA said.
The lower increment in the food index at 10.6 percent from 11.1 percent in March also contributed to the downtrend.
The PSA said manufactured goods classified chiefly by materials ranked as third contributor, recording a slower year-on-year growth rate of 2.8 percent from 3.6 percent in the previous month.
Lower annual increases were also seen in the indices of chemicals including animal and vegetable oils and fats, machinery and transport equipment, and miscellaneous manufactured articles.
"On the contrary, higher annual increase was noted in the index of crude materials, inedible except fuels with 6.9 percent in April 2023 from 6.5 percent in March 2023," the PSA added.
Beverages and tobacco, meanwhile, retained its previous month’s annual rate of 7 percent. (PNA)
