Construction Materials Wholesale Price Index in the National Capital Region
Year on Year and Month on Month Growth Rates
|All Items||February 2017||January 2017||February 2016||Year-to-date|
On an annual basis, the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) further moved up by 4.0 percent in February 2017. It picked up by 3.6 percent in January 2017 and 0.4 percent in February 2016. The uptrend was brought about by higher annual mark-ups posted in the indices of the following commodity groups:
- Sand and Gravel (4.1%)
- Hardware (1.6%)
- Reinforcing Steel (5.3%)
- Structural Steel (1.9%)
- Plumbing Fixtures and Accessories/Waterworks (0.7%)
- Painting Works (1.1%)
- Fuels and Lubricants (21.5%)
In addition, the annual change of G.I. sheet index rose by 0.2 percent from zero growth in the previous month. From negative annual rate in January 2017, the index for doors, jambs and steel casement also went up by 0.5 percent. Meanwhile, slower annual increases were seen in the indices of cement at 1.6 percent; lumber, 1.2 percent; and tileworks, 0.3 percent. Annual decreases were still registered in the indices of plywood at -0.3 percent and electrical works, -0.6 percent. Other commodity groups either retained their previous month’s rate or had zero growth (Table 2).
The month-on-month increase of the CMWPI in NCR decelerated to 0.3 percent in February 2017. Its growth in the previous month was recorded at 0.4 percent. The indices of plywood and lumber both went down by 0.1 percent and cement, -0.3 percent. In addition, slower gains were noticed in the indices of structural steel and plumbing fixtures and accessories/waterworks at 0.3 percent; reinforcing steel, 0.1 percent; doors, jambs and steel casement, 0.8 percent; painting works, 0.2 percent; and fuels and lubricants, 0.9 percent. Meanwhile, from zero growth in the previous month, the indices of sand and gravel moved up by 0.3 percent and G.I. sheet, 0.2 percent. Moreover, the indices of hardware and electrical works both inched up by 0.1 percent and concrete products, 0.2 percent from negative rates in the previous month. The rest of the commodity groups registered flat growth during the month (Table 3).
Selected construction materials such as gravel, hardware products, steel and flat bars, electrical materials and paint products were priced higher during the period. Price hikes were also noted in gasoline, diesel and lubricating oil. Meanwhile, lower prices were observed in cement and plywood.