Connect with us

Hi, what are you looking for?


Metro Manila retail price growth slowest in five months in July

RETAIL PRICE growth of general goods in the National Capital Region eased to its slowest pace in five months in July, the Philippine Statistics Authority (PSA) reported on Friday. 

The general retail price index (GPRI) registered a 1.8% growth in July, decelerating from the 2% rise in June but faster than the 1.5% a year ago. 

The July performance marked the slowest in five months or since the 1.6% annual growth recorded in February.  

Metro Manila’s retail price growth averaged 1.9% so far this year, faster than the 1.2% average in 2020’s comparable seven months. 

The PSA attributed the downtrend mainly to the lower year-on-year growth in the prices of beverages and tobacco at 6.9% in July versus 9% in June. 

The GRPI also posted slowdowns in the subindices of food (1.7% in July from 1.9% in June); mineral fuels, lubricants and related materials (13% from 13.6%); chemicals, including animal and vegetable oils and fats (0.8% from 0.9%); machinery and transport equipment (0.3% from 0.4%); and miscellaneous manufactured articles (0.3% from 0.4%). 

Price growth in crude materials, inedible except fuels; and manufactured goods classified chiefly by materials retained their previous month’s annual growth rates of 1.6% and 1.0%, respectively. 

“The drop in GRPI is to be expected with economic activity on the downtrend…,” ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail interview. 

Mr. Mapa said the deceleration of GRPI is in stark contrast with the pickup in the CPI (consumer price index) basket, which can be traced to the composition of the two baskets. 

“The most common item in both baskets are food and beverage which both comprise the lion’s share of the GRPI and CPI baskets and these items have seen a stark pickup in price pressures of late, driving overall headline print close to 5%.  Thus, we can surmise that despite the stark pickup in food inflation, the GRPI remains much slower than CPI inflation as the price of all other items (crude materials, chemicals, manufactured goods, machinery and miscellaneous articles) are all on the downtrend,” Mr. Mapa explained. 

“This decline in price pressure for these other items can be traced directly to the economic recession that the Philippines continues to endure.  With the Philippines not likely to exit from recession soon, we could see GRPI and CPI diverge for the balance of the year,” he added


In a separate report by the PSA, the general wholesale price index (GWPI) posted a 2.2% growth in June — the slowest since the 2.1% growth rate posted in January.  

Driving the June outcome were moderating price increases in food (0.5% from 2.2% in May); beverages and tobacco (4.1% from 6.3%); crude materials, inedible except fuels (39.2% from 44.9%); mineral fuels, lubricants, and related materials (15.9% from 18.7%); chemicals including animal and vegetable oils and fat (5.7% from 5.9%); and manufactured goods classified chiefly by material (0.8% from 0.9%). 

In contrast, the subindices of machinery and transport equipment and miscellaneous manufactured articles picked up to 0.9% and 3.0%, respectively, from 0.8% and 0.7% in May.  

Of the three major island groups, only Mindanao saw a pickup in general prices as its GWPI rose by 4.8% from 4.2% the month before. 

Meanwhile, wholesale prices in Luzon and the Visayas eased by 2.1% (from 3.0%) and 0.4% (from 0.8%), respectively. — Abigail Marie P. Yraola 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A Brewdog promotion which said customers could win “solid gold” beer cans was misleading, the advertising watchdog has found. The Scottish brewer offered shoppers...


There is growing concern that free, face-to-face advice which helps hundreds of thousands out of debt each year could be cut. New contracts from...


The Bank of England’s new chief economist has warned that UK inflation is likely to hit or surpass 5% by early next year. Huw...


By Luz Wendy T. Noble, Reporter  The Philippines expects to narrow its budget deficit, with the government having raised tax collections as of end-September amid a coronavirus...


The Philippine economy is expected to grow by 4.3% this year — slower than originally expected — due to recurring coronavirus infection surges in the region, according to the ASEAN+3 Macroeconomic...


By Luz Wendy T. Noble, Reporter The Philippine central bank sold P100 billion worth of 28-day bills on Friday, with rates slipping as it...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...


Pfizer Inc on Wednesday raised its 2021 sales forecast for its COVID-19 vaccine by 29% to $33.5 billion, and said it believes people will...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!