Metro Manila retail price growth slows in February

RETAIL PRICE growth of general goods in the National Capital Region (NCR) eased in February, the Philippine Statistics Authority (PSA) reported.

Citing preliminary data, the PSA said price growth in Metro Manila as measured by the general retail price index (GRPI), slowed to 1.3% year on year in February from 1.4% in January.

The year-earlier growth rate had been 2.1%.

The February reading was the weakest since the 1.2% in September 2024.

In the year to date, GRPI growth averaged 1.4%, against the 2.3% posted in the first two months of 2023.

“The primary contributor to the deceleration in the annual growth rate of GRPI in the NCR was the annual decrease recorded in the index of mineral fuels, lubricants and related materials at 1.3% in February 2025 from 0.9% in the previous month,” the PSA said.

The heavily weighted food index posted growth of 1.6% in February, down from 1.8% a month earlier.

Commodity groups where price growth picked up were beverages and tobacco (3.9% in February from 3.8% in January) and crude materials, inedible except fuels (0.8% from 0.6%).

Growth in the index of chemicals, including animal and vegetable oils and fats, was flat at 2.2%.

Other commodity groups that remained steady were manufactured goods classified chiefly by materials (1.1%), miscellaneous manufactured articles (1.1%), and machinery and transport equipment (0.2%).

In February, inflation eased sharply to 2.1% from 2.9% in January and 3.4% a year earlier.

In the first two months, inflation averaged 2.5%, remaining within the central bank’s target of 2-4%.

The GRPI is also used as a deflator in the National Accounts, particularly in the retail trade sector, and serves as a basis for forecasting, the PSA said. — Matthew Miguel L. Castillo