CONSTRUCTION MATERIALS WHOLESALE PRICE INDEX IN THE NATIONAL CAPITAL REGION
Year on Year and Month on Month Changes in Percent
|April 2018||March 2018||April 2017||Year-to-date|
The annual change of the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) continued to move upward as it recorded a higher annual growth of 7.5 percent in April 2018. Its annual rate in the previous month was registered at 6.7 percent and in April 2017, 3.5 percent. The double-digit annual growth in fuels and lubricants index further accelerated to 25.7 percent. Moreover, higher annual gains were posted in the indices of the following commodity groups:
- Hardware (5.7%);
- Plywood (2.8%);
- Lumber (7.1%);
- Reinforcing Steel (8.8%);
- Doors, Jambs, and Steel Casement (3.2%);
- Electrical Works (5.0%); and
- Painting Works (0.8%).
Downward movement was still observed in cement index as its annual adjustment dropped by 0.6 percent. Other commodity groups either retained their previous month’s rate or had zero growth (see Table 2).
On a monthly basis, the CMWPI in NCR picked up by 0.9 percent in April 2018. Its growth in the previous month was posted at 0.4 percent. Higher increments were noted in the indices of the following commodity groups:
- Lumber (1.8%);
- Reinforcing Steel (2.7%);
- Electrical Works; and
- Fuels and Lubricants (2.2%).
From zero growth in the previous month, the indices of doors, jambs, and steel casement went up by 2.5 percent and plumbing fixtures and accessories/waterworks and painting works, both at 0.1 percent. Likewise, the index of plywood rose by 0.5 percent after it had a 0.1 percent drop in the previous month. The rest of the commodity groups either retained their previous month’s rate or had zero growth (see Table 3).
Higher prices were recorded in sand, cement, selected hardware products, plywood, lumber, steel bars, flush type doors, door panel, electrical materials, angle valve and paint thinner. Price hikes were also observed in petroleum products such as gasoline, diesel, and bunker fuel oil.