May 2008

• Month-on-Month

            The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) registered a slower rate of increment of 1.8 percent in May from 2.5 percent in April as upward movement in the prices of metal pipes and structural steel correspondingly decelerated to 1.9 percent and 1.6 percent from 4.1 percent and 7.2 percent, respectively. On the other hand, higher rates were posted in the prices of fuels and lubricants (6.7% from 3.7%), hardware (3.2% from 2.4%), concrete products (0.7% from 0.3%), reinforcing steel (5.8% from 5.0%), exterior electrical equipment/supplies (1.4% from zero growth), interior electrical fixtures (0.3% from 0.1%), and machinery and equipment rental (1.4% from 0.7%). Prices for the rest of the commodity groups generally remained stable as they recorded zero growth during the month. 
   

• Year-on-Year

            The annual growth rate of the CMWPI in NCR accelerated to 9.0 percent in May from 7.1 percent in April. Annual price gains were higher in the prices of cement, fuels and lubricants, hardware, metal pipes, concrete products, reinforcing steel, structural steel, exterior electrical equipment/supplies, interior electrical fixtures and devices, tileworks and electrical rough-in materials. An annual price decrease in machinery and equipment rental at -4.8 percent from its last month's rate of -7.2 percent was attributed to the movement in the peso exchange rate against the US dollar during the period. Movements in the rest of the commodity groups were at their previous month's rates while zero growth was posted in plywood, aluminum and other metal products and blasting materials.

   

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  Source:    National Statistics Office
                    Manila, Philippines
  
  Page last revised:   June 27, 2008