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

CMWPI in NCR continued to decline in June 2023

The year-on-year increase of CMWPI in NCR slowed down further to 5.9 percent in June 2023 from the 6.5 percent annual increment posted in May 2023. The annual growth of CMWPI during the month marked its eighth consecutive month of deceleration. In June 2022, its annual growth rate was recorded at 8.9 percent. (Figure 1, and Tables A and 2)

The slower annual growth rate of CMWPI was mainly caused by the lower annual increment in the heavily-weighted reinforcing and structural steel at 2.6 percent in June 2023 from 4.1 percent in May 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, 4.1 percent from 4.7 percent; 
          b. Concrete products and cement, 8.9 percent from 9.1 percent; 
          c. Plywood, 4.2 percent from 4.3 percent; 
          d. Lumber, 5.1 percent from 6.2 percent; 
          e. Tileworks, 1.0 percent from 1.4 percent; 
          f.  Doors, jambs, and steel casement, 4.9 percent from 5.2 percent; 
          g. Electrical works, 5.9 percent from 6.3 percent; 
          h. Plumbing fixtures and accessories/waterworks, 3.6 percent from 4.2 percent; and 
          i.  Painting works, 11.2 percent from 12.4 percent.

In addition, further annual decreases were recorded in the indices of PVC pipes at -4.5 percent during the month from -3.7 percent in May 2023; and fuels and lubricants at -23.4 percent in June 2023 from -19.4 percent in the previous month.

On the other hand, higher annual growth rates were observed in the indices of hardware at 6.2 percent during the month from 6.0 percent in May 2023; and G.I. sheet at 14.8 percent in June 2023 from 13.8 percent in the previous month.

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


 

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