NCR retail price growth flat in March

PHILIPPINE STAR/ RUSSELL A. PALMA

RETAIL price growth in Metro Manila was steady in March as growth in food costs slowed, the Philippine Statistics Authority (PSA) said Tuesday.

Price growth in the National Capital Region (NCR), as measured by the general retail price index (GRPI), remained at 2.1% year on year in March compared to February. It had been at 6% a year earlier.

The March reading remains the highest since the 2.5% posted in January this year.

In the first quarter, GRPI growth averaged 2.2%, down from 6.3% in the first three months of 2023.

Slower price growth was seen in the indices for food (2.7% in March from 3% in February); beverages and tobacco (4.3% from 4.8%); and manufactured goods classified chiefly by materials (1.2% from 1.3%). — Lourdes O. Pilar