NCR retail prices climb in January

Retail price growth in Metro Manila picked up at the start of the year, driven largely by higher food costs, according to the latest data on the General Retail Price Index (GRPI).

The Philippine Statistics Authority reported that the GRPI in the National Capital Region posted a 2.1 percent annual increase in January 2026, faster than the 1.5 percent growth recorded in December 2025. A year earlier, the index rose by 1.4 percent.

Food, which carries the heaviest weight in the retail price basket, led the acceleration. The food index climbed 3.6 percent year on year in January, sharply higher than the 1.8 percent increase in the previous month. The stronger movement in this category largely explains the overall uptick in retail price growth across the region.

Other commodity groups also posted quicker annual gains. Crude materials, inedible except fuels, rose by 2.8 percent, up from 2.0 percent in December. Manufactured goods classified chiefly by materials inched up to 1.5 percent from 1.4 percent previously.

However, not all sectors moved in the same direction. The index for chemicals, including animal and vegetable oils and fats, expanded at a slightly slower pace of 2.1 percent, easing from 2.2 percent a month earlier.

More notably, mineral fuels, lubricants and related materials registered a 0.4 percent annual decline in January. This marked a reversal from the 0.8 percent increase seen in December, reflecting softer price movements in energy-related items.

The remaining commodity groups maintained their December growth rates.

The January figures suggest that while energy costs showed some relief, upward pressure from food and selected raw materials continued to shape retail price trends in Metro Manila at the beginning of 2026.