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Table A. Year-on-Year Growth Rates
of the Construction Materials Retail Price Index in NCR
All Items, In Percent
(2012=100)
| 3.3 | 5.5 | 5.4 | 5.5 |
p - preliminary
*Year-on-year change of average CMRPI for January to February, 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 February 2023
The year-on-year increase of CMRPI in NCR further slowed down to 5.4 percent in February 2023 from 5.5 percent in January 2023, marking its seventh consecutive month of deceleration. Its annual increment in February 2022 stood at 3.3 percent. (Figure 1 and Tables A, 2, and 4)
The continued downtrend of CMRPI for this month was primarily brought about by the heavily-weighted tinsmithry materials index, which recorded a lower annual growth rate of 5.9 percent in February 2023 from 7.1 percent in January 2023. Also contributing to the slower annual increment of CMRPI is the plumbing materials index with an annual growth rate of 4.0 percent in February 2023 from 4.4 percent in the previous month.
On the contrary, annual gains were higher in the indices of the following commodity groups during the month:
a. Carpentry materials, 3.8 percent;
b. Masonry materials, 4.0 percent;
c. Painting materials and related compounds, 5.6 percent; and
d. Miscellaneous construction materials, 9.3 percent.
Meanwhile, the electrical materials index remained at its previous month’s annual increment of 3.1 percent. (Table 2)
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