The retail price rise of general merchandise in the National Capital Region (NCR) further diminished in May, according to the Philippine Statistics Authority (PSA) on Friday.<\/p>\n
Referencing preliminary statistics, the PSA indicated that price growth in Metro Manila, as indicated by the general retail price index (GRPI), increased by 0.8%, down from 0.9% in April and the 2% rise recorded a year prior.<\/p>\n
During the initial five months, the GRPI averaged 1.1%, decelerating from the 2.1% noted in the same timeframe last year.<\/p>\n
\u201cThe decline was mainly influenced by the slower annual increase seen in the food index at 1% in May compared to 1.2% in April,\u201d the PSA mentioned.<\/p>\n
Noticeable slower annual increases were recorded in the indices of the following commodity categories during the month: chemicals, including animal and vegetable oils and fats (1.8% down from 1.9%), manufactured goods organized chiefly by materials (0.7% down from 0.8%), machinery and transport equipment (0.1% down from 0.2%), and various manufactured articles (0.8% down from 0.9%).<\/p>\n
Conversely, price growth in May remained unchanged in beverages and tobacco (3.3%) and mineral fuels, lubricants, and related materials (-4.7%).<\/p>\n
The sole commodity that experienced an increase in May was crude materials, inedible except fuels, which rose to 0.8% from 0.6%.<\/p>\n
The GRPI is calculated based on 2012 constant prices.<\/p>\n