National Capital Region, Philippines – The general retail price index (GRPI) in the National Capital Region (NCR) experienced a deceleration in its annual rate, registering at 3.6 percent in September, down from 3.9 percent in the preceding month of August.
According to Philippines News Agency, this September rate also represents a decrease when compared to the 5.9 percent recorded in the same month of the previous year. The PSA identified the food index, which holds significant weight in the GRPI, as the primary contributor to the slowing rate, noting its annual increase decreased to 6.2 percent in September from 6.9 percent in August 2023. Additionally, the PSA observed lower annual increases in other commodity groups, including 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. However, the index of mineral fuels, lubricants, and related materials saw a slower annual decrease, recorded at 1.9 percent in September 2023, an improvement from the annual decline of 5 percent in the previous month.