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Metro Manila retail prices hit 6-month high in November

Louise Maureen Simeon – The Philippine Indispensable particular person

January 14, 2022 | 12: 00am

MANILA, Philippines — Retail prices of client goods in Metro Manila endured to seize up, hitting a six-month high in November, the Philippine Statistics Authority (PSA) said.

The Fashioned Retail Mark Index (GRPI) in the Nationwide Capital Put (NCR) in November grew by 2.3 p.c, faster than the 2.1 p.c fee in October.

That is also deal faster than the growth of 1.3 p.c in November 2020.

Retail prices in the capital failed to enrich the easing of the nationwide headline inflation fee to 4.2 p.c in November.

The index of mineral fuels, lubricants and associated materials further picked as a lot as 25 p.c from 22.1 p.c the old month amid the endured spike in world oil prices for the length of the month.

Retail prices for food also rose to 2.1 p.c from 1.9 p.c.

Meat prices live a mission even as other food commodities, critically greens and fish, recorded a downtrend.

Increases secure been also seen in chemical substances, along side animal and vegetable oils and fats, manufactured goods categorised mainly by materials, equipment and transport tools, and miscellaneous manufactured articles.

Decline, on the opposite hand, modified into considerable in beverages and tobacco and shameful materials, inedible excluding for fuels.

The GRPI is an indicator at threat of music the commercial mission of the retail exchange sector.

It’s a ways on the total vulnerable as a deflator of the nationwide accounts, especially in the retail exchange sector and serves as a foundation of forecasting exchange in the retail exchange.

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