Construction Materials Wholesale Price Index in the National Capital Region
Year on Year and Month on Month Growth Rates
|All Items||December 2017||November 2017||December 2016||Year-to-date|
The annual growth of the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) slowed down to 4.3 percent in December 2017. The annual rate in November 2017 was registered at 4.7 percent and in December 2016, 3.1 percent. Annual declines were still recorded in the indices of cement at -2.7 percent and PVC pipes, -0.2 percent. Moreover, slower annual increments were posted in the indices of the following commodity groups:
- Sand and Gravel (1.5%);
- Lumber (2.7%);
- Reinforcing Steel (3.4%);
- Structural Steel (4.6%);
- Tileworks (1.5%);
- Electrical Works (0.4%);
- Painting Works (1.0%); and
- Fuels and Lubricants (14.8%).
Annual increases in the indices of the following commodity groups were however, observed higher during the month:
- Hardware (1.5%);
- G.I. Sheet (0.6%);
- Doors, Jambs, and Steel Casement (4.3%); and
- Plumbing Fixtures and Accessories/Waterworks (1.0%).
In addition, the index for plywood went up by 0.2 percent after it had a 0.8 percent annual decrease in the previous month. Other commodity groups either retained their previous month’s rates or had zero growth.
The annual average growth of the CMWPI for the year 2017 rose by 3.3 percent from 1.4 percent in 2016. A higher annual average rate of 1.2 percent during the year was noted in hardware index. Moreover, the annual average adjustments in the indices of the following commodity groups moved upward from negative rates in the previous year:
- Lumber (2.3%);
- G.I. Sheet (0.2%);
- Structural Steel (2.8%);
- Tileworks (1.4%);
- Doors, Jambs, and Steel Casement (2.5%);
- Painting Works (1.2%); and
- Fuels and Lubricants (15.2%).
The annual average movement of PVC pipes index inched up by 0.1 percent in 2017 from zero growth in 2016. Meanwhile, slower annual average mark-ups were registered in the indices of the following commodity groups:
- Sand and Gravel (2.5%);
- Concrete Products (1.7%);
- Reinforcing Steel (3.3%); and
- Plumbing Fixtures and Accessories/Waterworks (0.9%).
The annual average adjustments for the indices of rest of the commodity groups either exhibited decreases or zero growth (see Table 2).
The month-on-month movement of the CMWPI in NCR continued to increase at a slower pace of 0.1 percent in December 2017. Its growth in the previous month was recorded at 1.0 percent. The indices of tileworks dropped by 0.7 percent and painting works, -0.2 percent. Meanwhile, the indices of the following commodity groups posted higher rates during the period:
- Cement (1.2%);
- Plywood (0.8%);
- G.I. Sheet (0.4%); and
- Doors, Jambs, and Steel Casement (0.5%).
Moreover, the index of plumbing fixtures and accessories/waterworks picked up by 0.3 percent from -0.1 percent in the previous month. The rest of the commodity groups either moved at their previous month’s rate or had zero growth (see Table 3).
Upward price adjustments were noted in cement, cabinet hinges, plywood, G.I. sheets, doors and angle valve. Price hikes were also observed in petroleum products such as gasoline and diesel. On the other hand, price decreases were seen in vinyl tile and selected painting work products this month.