Table A. Year-on-Year Growth Rates    
of the Construction Materials Retail Price Index in NCR    
All Items, In Percent    
(2012=100)

                                                    _{*Year-on-year change of average CMRPI for January to August, 2023 vs. 2022    
                                                                     Source: Philippine Statistics Authority, Retail Price Survey of Selected Commodities for the Generation    
                                                                      of Contruction Materials Retail Price Index}    
                                              

 

Figure 1. Year-on-Year Growth Rates    
of Construction Materials Retail Price Index in NCR    
All Items, In Percent    
(2012=100)

CMRPI in NCR continued to slowdown in August 2023

The year-on-year increase of CMRPI in NCR slowed down further to 1.4 percent in August 2023 from 1.5 percent in July 2023. In August 2022, its annual increment was posted at 6.9 percent. (Figure 1, and Tables A, 2, and 4)

The deceleration of the annual rate of CMRPI in NCR was primarily contributed by the slower annual increase in the heavily-weighted tinsmithry materials index at 2.9 percent in August 2023 from 3.4 percent in the previous month. In addition, slower annual increases were observed in the indices of the following commodity groups during the month:  

a. Carpentry materials, 1.1 percent from 1.2 percent;  
b. Electrical materials, 1.0 percent from 1.2 percent;  
c. Masonry materials, 1.2 percent from 1.5 percent; and  
d. Painting materials and related compounds, 3.0 percent from 3.1 percent.

On the contrary, higher annual mark-up was observed in the index of plumbing materials at 0.4 percent relative to its July 2023 annual rate of 0.3 percent. In addition, miscellaneous construction materials index recorded a slower annual decline of -0.7 percent during the month from -0.8 percent in the previous month. (Table 2)    

 

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