Table A. Year-on-Year Growth Rates of the CMWPI in NCR, All Items
In Percent
(2012=100)

                                                        _{*Year-on-year change of average CMWPI for January to February, 2023 vs. 2022                                                    
                                                         Source: Philippine Statistics Authority
                                                                     Survey of Wholesale Prices of Selected Construction Materials for the Generation of CMWPI}
                                         

Figure 1. Annual Growth Rates of the CMWPI in NCR, All Items
February 2022 - February 2023
(2012=100)
 

CMWPI in NCR continued to pick up at a slower annual pace in February 2023

The annual increase of CMWPI in NCR slowed down further to 9.1 percent in February 2023. A higher annual rate was posted in January 2023 at 9.4 percent, while its annual growth rate in February 2022 was recorded at 5.2 percent. (Tables A and 2)

The lower annual growth in CMWPI was primarily brought about by the downtrend in the heavily-weighted reinforcing and structural steel at 10.0 percent in February 2023 from 11.4 percent in January 2023.

In addition, compared with their annual growth rates in January 2023, slower annual increments were posted in the indices of the following commodity groups during the month:

          a. Plywood, 5.2 percent;
          b. Tileworks, 4.2 percent;
          c. Glass and glass products, 0.2 percent;
          d. Painting works, 11.6 percent; and
          e. Fuels and lubricants, 1.4 percent.

Meanwhile, annual gains were higher in the indices of the following commodity groups for this month:

          a. Sand and gravel, 5.8 percent;
          b. Concrete products and cement, 10.9 percent;
          c. Doors, jambs, and steel casement, 5.8 percent;
          d. Electrical works, 8.0 percent;
          e. Plumbing fixtures and accessories/waterworks, 3.9 percent; and
          f.  PVC pipes, 2.0 percent.

The indices of the rest of the commodity groups either retained their respective January 2023 annual growth rates or had zero percent annual rates during the month. (Table 2)

See more at the Construction Materials Wholesale Price Index Main page