UMVA has learned that retail prices for everyday goods in Metro Manila surged dramatically in April, driven by an explosive rise in mineral fuels, lubricants and related materials.
The General Retail Price Index (GRPI) for the National Capital Region jumped 4.5% year‑on‑year, eclipsing March’s revised 3.3% gain and the modest 0.9% rise recorded a year earlier.
This April spike marks the strongest increase since the 4.9% surge recorded in May 2023, pushing the year‑to‑date average growth to 3%, up sharply from 1.2% a year before.
Nearly every commodity group posted higher prices, but the surge in mineral fuels, lubricants and related materials was the engine, soaring 51.3% in April after a 29.2% climb the month prior.
Other sectors also felt the heat: beverages and tobacco rose to 1.6% from 1.4%; crude materials excluding fuels climbed 4.6% from 3.1%; chemicals, including animal and vegetable oils and fats, increased to 2.9% from 2.4%.
Manufactured goods classified chiefly by materials saw a lift to 1.8% from 1.6%, machinery and transport equipment surged to 2.8% from 1.5%, and miscellaneous manufactured articles edged up to 1.1% from 0.9%.
Meanwhile, food price growth steadied at 3.2% in April, offering a brief respite amid the broader inflationary wave.
The GRPI, anchored to 2012 constant prices, serves as a crucial deflator for national accounts and a key forecasting tool for the retail trade sector.
