June 2008
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Month-on-Month
The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) picked up to 4.7 percent in June from 1.8 percent in May. This was primarily due to the 19.1 percent gain in the prices of aluminum and other metal products from zero growth. In addition, higher monthly growth rates were observed in the prices of fuels and lubricants at 12.6 percent from 6.7 percent; hardware, 10.2 percent from 3.2 percent; reinforcing steel, 7.8 percent from 5.8 percent; structural steel, 14.3 percent from 1.6 percent; and interior electrical fixtures and devices, 1.0 percent from 0.3 percent. Prices of the following commodity groups also increased during the month from zero growth: sand, stone and gravel, 3.5 percent; cement, 0.4 percent; plywood, 0.8 percent; wood products, 2.8 percent; PVC pipes, 2.6 percent; paints, 0.4 percent; G.I. sheets, 0.7 percent; and electrical rough-in materials, 1.1 percent. On the other hand, price hikes in metal pipes and concrete products correspondingly slowed down to 1.1 percent and 0.5 percent from 1.9 percent and 0.7 percent, respectively. Prices for the rest of the commodity groups generally remained stable as they recorded a zero growth during the month.
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Year-on-Year
The year-on-year growth rate of the CMWPI in NCR registered a double-digit figure of 13.5 percent in June from 9.0 percent in May. All the commodity groups posted higher annual growth rates except for lumber, asphalt, plumbing fixtures, exterior electrical equipment/supplies, interior electrical fixtures and devices, tileworks, blasting materials, electrical rough-in materials and UPVC water pipes.
NOTE :
Revisions of the monthly series from December 2007 to May 2008 were made due to the updates made by the official source on machinery and equipment rental rates last June 25, 2008.
Source: National Statistics Office
Manila, Philippines
Page last revised: July 10, 2008
