Year-on-Year and Month-on-Month Growth Rates of the
Construction Materials Wholesale Price Index in the National Capital Region
| All Items | August 2014 | July 2014 | August 2013 | Year-to-date |
|---|---|---|---|---|
| Year-on-Year | 2.1 | 2.4 | 2.0 | 2.3 |
| Month-on-Month | -0.1 | 0.3 | 0.1 |
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Year-on-Year
The year-on-year growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) improved to 2.1 percent in August. In July, it picked up by 2.4 percent and in August 2013, 2.0 percent. During the month, a negative annual rate of 0.6 percent was posted in fuels and lubricants index. In addition, annual gains decelerated in the indices of sand and gravel at 4.5 percent in August; cement, 3.2 percent; hardware, 2.6 percent; and reinforcing steel, 0.7 percent. The rest of the commodity groups either had higher annual mark-ups or retained their previous month’s rate with the asphalt and machinery and equipment rental indices still registering zero growths.
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Month-on-Month
On a monthly basis, the CMWPI in NCR went down by 0.1 percent in August. This can be attributed to the 1.9 percent drop in fuels and lubricants index during the period. Moreover, a slower monthly increase of 0.2 percent was registered in the indices of concrete products; cement; doors, jambs and steel casement; plumbing fixtures and accessories; and painting works; 0.4 percent in plywood and electrical works indices; and 0.3 percent in glass and glass products index. Meanwhile, the indices of G.I. sheet; structural steel; and PVC pipes had higher increments. Movements in the other commodity groups remained at their last month’s rates while the rest had zero growth.
Price rollbacks were observed in gasoline, diesel and fuel oil during the month. Upward price adjustments were however, noted in cement, hollow blocks, plywood, lumber, G.I. sheets, angle bars, doors, glass products, paints, electrical wires, some plumbing fixtures and PVC pipes.
