Table A. Year-on-Year Growth Rates of the CMWPI in NCR 
All Items, In Percent 
(2018=100)

Figure 1. Annual Growth Rates of the CMWPI in NCR, All Items 
July 2023 - July 2024 
(2018=100)

Annual growth rate of CMWPI in NCR rose in July 2024

In July 2024, the year-on-year growth rate of CMWPI in NCR inched up to 0.5 percent from its June 2024 annual growth rate of 0.4 percent. In July 2023, its annual rate was registered at 5.7 percent. (Figure 1, and Tables A and 2)

The higher annual growth rate of CMWPI during the month was mainly caused by the faster annual increment of electrical works at 3.2 percent in July 2024 from 1.5 percent in June 2024.

In addition, higher annual increases were also recorded in the indices of metal products at 1.1 percent in July 2024 from 0.9 percent in June 2024, and plumbing fixtures & accessories/waterworks at 1.0 percent in July 2024 from 0.9 percent in June 2024.

Moreover, slower annual decreases were recorded in the indices of sand and gravel at 0.4 percent in July 2024 from 0.8 percent annual drop in June 2024, and tileworks at 0.8 percent in July 2024 from 1.1 percent annual decline in June 2024. Meanwhile, a zero percent annual rate was noted in the index of lumber in July 2024 from a 0.2 percent annual drop in June 2024.

On the other hand, compared with their respective annual growth rates in June 2024, slower annual increments were observed in the indices of the following commodity groups during the month:

a.   Concrete products, 0.1 percent from 0.2 percent;
b.   G.I. sheet, 0.4 percent from 1.5 percent;
c.   Structural steel, 0.7 percent from 0.9 percent;
d.   Painting works, 1.3 percent from 1.7 percent;
e.   PVC pipes, 1.3 percent from 1.4 percent; and
f.   Fuels and lubricants, 12.9 percent from 14.1 percent.

In addition, a faster annual decline was recorded in the index of cement at 2.2 percent in July 2024 from 2.1 percent annual drop in June 2024.

The indices of glass and glass products, asphalt, and machinery and equipment rental retained zero percent annual rates in July 2024. Meanwhile, annual drop was still recorded in the index of reinforcing steel at 1.0 percent during the month. The rest of the commodity groups retained their respective previous month’s annual growth rates in July 2024. (Table 2)

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