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 July, 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
July 2022 - July 2023
(2012=100)

CMWPI in NCR picked up at a slower rate in July 2023

The annual increase of CMWPI in NCR slowed down further to 5.7 percent in July 2023 from the 5.9 percent annual rate posted in June 2023. This is the ninth consecutive month of lower year-on-year growth of CMWPI since November 2022. In July 2022, its annual growth rate was recorded at 8.7 percent. (Figure 1, and Tables A and 2)

The slower annual growth rate of CMWPI was mainly caused by the lower annual increment of concrete products and cement at 8.4 percent in July 2023 from 8.9 percent in June 2023. Moreover, the year-on-year increases in the indices of the following commodity groups also exhibited downward trend during the month:

a. Sand and gravel, 3.6 percent from 4.1 percent;   
b. Hardware, 5.9 percent from 6.2 percent;   
c. Plywood, 4.0 percent from 4.2 percent;   
d. Lumber, 4.2 percent from 5.1 percent;
e. Doors, jambs, and steel casement, 4.6 percent from 4.9 percent;
f. Electrical works, 5.5 percent from 5.9 percent;
g. Plumbing fixtures and accessories/waterworks, 3.2 percent from 3.6 percent; and
h. Painting works, 10.3 percent from 11.2 percent.

In addition, further annual decrease was recorded in the index of PVC pipes at -5.6 percent during the month from -4.5 percent in June 2023.

On the other hand, higher annual growth rate was observed in the index of G.I. sheet at 16.0 percent in July 2023 from 14.8 percent in the previous month. Furthermore, slower annual decline was recorded in the index of fuels and lubricants at -21.2 percent in July 2023 from -23.4 percent in June 2023.

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

See more at the Construction Materials Wholesale Price Index Main page