Table A. Year-on-Year Growth Rates
of the Construction Materials Retail Price Index in NCR
All Items, In Percent
(2012=100)

                                                    _{*Year-on-year change of average CMRPI for January to April, 2023 vs. 2022
                                                         Source: Philippine Statistics Authority, Retail Price Survey of Selected Commodities for the Generation of
                                                                      Contruction Materials Retail Price Index}
                                          

 

Figure 1. Year-on-Year Growth Rates
of Construction Materials Retail Price Index in NCR
All Items, In Percent
 

CMRPI in NCR continued its downtrend in April 2023

The year-on-year increase of CMRPI in NCR slowed down further to 2.6 percent in April 2023 from 4.1 percent in March 2023. The April 2023 annual growth of CMRPI marked its ninth consecutive month of deceleration. In April 2022, its annual increment was recorded at 6.1 percent. (Figure 1, and Tables A, 2, and 4)

Compared with their March 2023 annual growth rates, all commodity groups exhibited slower annual increments during the month.

Among the commodity groups, miscellaneous construction materials primarily influenced the lower annual growth rate of CMRPI during the month, with an annual increment of 0.2 percent in April 2023 from 6.2 percent in March 2023. Also contributed to the downtrend was the slowdown in the plumbing materials, which grew by 0.7 percent in April 2023 from 2.2 percent in the previous month.

The rest of the commodity groups recorded lower annual growth rates during the month as follows:

          a. Carpentry materials, 2.8 percent from 3.3 percent in March 2023;
          b. Electrical materials, 2.2 percent from 2.4 percent in March 2023;
          c. Masonry materials, 2.5 percent from 3.6 percent in March 2023;
          d. Painting materials and related compounds, 4.6 percent from 5.6 percent in March 2023; and
          e. Tinsmithry materials, 4.4 percent from 4.7 percent in March 2023. (Table 2)

 

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