Year-on-Year

The annual increase in the Construction Materials Wholesale Price Index (CMWPI) in NCR improved to 2.2 percent in July from 2.4 percent in June as the annual rate in fuels and lubricants index further dropped by -2.1 percent from -1.9 percent. Moreover, the annual hike in sand and gravel index eased to 7.6 percent in July from 9.0 percent in June; concrete products index, 2.5 percent from 2.7 percent; plywood index, 3.4 percent from 4.0 percent; structural steel index, 4.2 percent from 5.0 percent; tileworks index, 3.8 percent from 4.1 percent; electrical works index, 5.1 percent from 5.7 percent; and painting works index, 4.8 percent from 4.9 percent. On the other hand, the annual growths in the cement index rose 0.9 percent from 0.1 percent; hardware index, 2.8 percent from 2.5 percent; lumber index, 3.9 percent from 3.7 percent; reinforcing steel index, 3.3 percent from 2.8 percent; glass and glass products index, 0.6 percent from 0.4 percent; PVC pipes index, 2.4 percent from 2.1 percent; and asphalt index, 3.5 percent from 3.1 percent. The same previous month's annual gains were posted in the indices of the other commodity groups while that for machinery and equipment rental was still zero.

Month-on-Month

On a monthly basis, the CMWPI inched up 0.1 percent in July from -0.8 percent in June. From zero growth, monthly increments were registered in the index of tileworks at 0.4 percent; concrete products index, hardware index, lumber index and PVC pipes index, 0.2 percent; and plywood index, 0.1 percent. In addition, the glass and glass products index went up 0.2 percent from 0.1 percent. Meanwhile, the uptick in the cement index slowed down to 0.1 percent from 0.7 percent. The monthly movements in the rest of the commodity groups were zero while the index for reinforcing steel retained its last month's rate of 0.4 percent.

Upward price adjustments were seen in selected hardware products, plywood, lumber, steel bars, tiles, hollow blocks, cement and PVC pipes. Lower prices of diesel and fuel oil were however observed during the period.

Source: National Statistics Office
Manila, Philippines