Month-on-Month

Compared to May 2012, the monthly rate of change in the CMWPI further dropped to -0.8 percent in June from -0.3 percent. The index for fuels and lubricants declined by -6.4 percent from -3.2 percent and doors, jambs and steel casement index, -0.1 percent from zero growth. A slowdown was also noted in the monthly uptick of reinforcing steel index at 0.4 percent from 0.7 percent; glass and glass products index, 0.1 percent from 0.2 percent; and electrical works index, 0.3 percent from 0.5 percent. From zero growth, higher monthly gains were observed in the indices of cement, plumbing fixtures and accessories/waterworks and painting works. The other commodity groups posted zero growth in June.

The downward trend in the CMWPI was due to the series of price rollbacks in gasoline and diesel oil along with the lower prices of some PVC doors. On the other hand, prices of cement and paints were higher during the month.

Year-on-Year

The year-on-year increase in the Construction Materials Wholesale Price Index (CMWPI) in NCR continued to move at a slower rate of 2.4 percent in June from 3.6 percent in May. This was mainly effected by the annual decrease registered in the index of fuels and lubricants at -1.9 percent from 3.6 percent. Moreover, slower annual increments were seen in the indices of the following commodity groups: sand and gravel (9.0% from 9.2%); concrete products (2.7% from 3.1%); hardware (2.5% from 3.6%); plywood (4.0% from 4.2%); reinforcing steel (3.0% from 3.9%); structural steel (5.0% from 6.1%); tileworks (4.1% from 4.6%); doors, jambs, and steel casement (3.7% from 3.8%); and asphalt (3.1% from 8.6%). Meanwhile, annual upticks were higher in the indices of cement, glass and glass products, electrical works, plumbing fixtures and accessories/waterworks, and painting works. Those for the rest of the commodity groups remained at their last month's annual rates while that for machinery and equipment was still zero.

Source: National Statistics Office
Manila, Philippines

Page last revised: July 13, 2012