Year-on-Year

On an annual basis, the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) further moved up by 3.1 percent in December 2016. It picked up by 2.1 percent in November 2016, and 0.1 percent in December 2015. The double-digit annual growth of 11.0 percent was noted in fuels and lubricants index. Moreover, higher annual mark-ups were posted in the indices of sand and gravel at 3.9 percent, reinforcing steel, 7.9 percent; and electrical works, 0.5 percent. Slower annual increases were, however, seen in the indices of cement at 2.7 percent and plywood, 0.4 percent. Annual decreases were still registered in the indices of lumber at -0.1 percent; G.I. sheet, -2.7 percent; structural steel, -2.8 percent; tileworks, -1.0 percent; doors, jambs, and steel casement, -1.6 percent; and painting works, -0.4 percent. Other commodity groups either retained their last month’s rate or had zero growth.

The annual average growth of the CMWPI for the year 2016 rose by 1.4 percent. It’s annual average rate in 2015 was pegged at -0.7 percent. Higher annual average growths during the year were noted in the following indices: sand and gravel, 3.4 percent; concrete products, 2.3 percent; and reinforcing steel, 5.7 percent. In addition, the index of cement exhibited an annual average rate of 1.9 percent in 2016 from -0.2 percent in 2015. Meanwhile, slower annual average upticks were registered in the following indices: hardware, 0.9 percent; plywood, 1.1 percent; electrical works, 1.2 percent; and plumbing fixtures and accessories/waterworks, 2.6 percent. The rest of the commodity groups either had negative annual average rates or had zero growth (Table 2).

Month-on-Month

On a monthly basis, the CMWPI in NCR inched up by 0.5 percent in December 2016. Its growth was 0.3 percent in the previous month. Higher increments were posted in the indices of reinforcing steel at 0.8 percent and fuels and lubricants, 3.3 percent. From zero growth, the indices of lumber increased by 0.4 percent; structural steel, 0.5 percent; and electrical works, 0.2 percent. Lower monthly gain was, however, noticed in sand and gravel index at 0.2 percent. The indices of cement and plywood continued to decline as it recorded -0.3 percent and -0.2 percent, respectively. The rest of the commodity groups had zero growth (Table 3).

Upward price adjustments were noted in gravel, coco lumber, steel and flat bars, and circuit breaker. Price hikes were also observed in gasoline, diesel and fuel oil.