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 September, 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     
(2012=100)

CMRPI in NCR continued to decelerate in September 2023

The year-on-year increase of CMRPI in NCR continued its downtrend as it slowed down further to 1.1 percent in September 2023 from 1.4 percent in August 2023. In September 2022, its annual increment was recorded  at 6.8 percent. (Figure 1, and Tables A, 2, and 4)

The primary contributor to the deceleration in the annual increase of CMRPI in NCR was the faster annual decrease recorded in the miscellaneous construction materials index at 1.3 percent during the month from an annual decrease of 0.7 percent in August 2023. In addition, relative to their respective annual growth rates in the previous month, slower annual increases were observed in the indices of the following commodity groups in September 2023:   

a. Carpentry materials, 0.8 percent from 1.1 percent;   
b. Painting materials and related compounds, 2.6 percent from 3.0 percent; and   
c. Tinsmithry materials, 2.8 percent from 2.9 percent.

On the other hand, higher annual increase was observed in the index of masonry materials at 1.3 percent during the month from 1.2 percent in August 2023.

Meanwhile, the indices of electrical materials and plumbing materials retained their previous month’s annual growth rates at 1.0 percent and  0.4 percent, respectively. (Table 2)     

 

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