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NCR wholesale price growth eases in Feb.
The National Capital Region (NCR) wholesale price growth eased in February, according to the latest data from the Philippine Statistics Authority (PSA).
The Wholesale Price Index (WPI) for NCR in February 2021 was recorded at 122.1, which is 0.3% lower than the 122.5 index in January 2021. This is the first time in six months that the NCR WPI has declined.
The PSA attributed the decline to the lower prices of selected food items, particularly vegetables, fruits, and fish. The prices of these items decreased by 2.2%, 1.5%, and 0.9%, respectively.
Meanwhile, the prices of mineral fuels, lubricants, and related materials increased by 2.5%, which contributed to the slight increase in the WPI for the entire country.
The easing of wholesale price growth in NCR is a positive development for consumers, as it could lead to lower prices of goods in the market. However, it could also mean lower profits for businesses that rely on wholesale trade.
The PSA also reported that the annual growth rate of the NCR WPI slowed down to 2.8% in February 2021, from 3.1% in January 2021. This is the lowest annual growth rate since June 2020.
The slower annual growth rate was mainly due to the lower prices of selected food items, as well as the decline in the prices of chemicals and chemical products.
The easing of wholesale price growth in NCR is a welcome development, as it could help ease inflationary pressures in the country. Inflation in February 2021 was recorded at 4.7%, which is still above the government’s target range of 2% to 4%.
The government has implemented various measures to address inflation, including the implementation of price ceilings on basic goods and the importation of food items. The easing of wholesale price growth in NCR could complement these measures and help bring down inflation further.
Overall, the easing of wholesale price growth in NCR is a positive development for the economy and consumers. It could lead to lower prices of goods in the market and help ease inflationary pressures in the country.