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
November 2023 - November 2024
(2018=100)

Annual growth rate of CMWPI in NCR moved up at a slower rate in November 2024

The year-on-year growth rate of CMWPI in NCR slowed down to 0.2 percent in November 2024 from its annual growth rate of 0.3 percent in October 2024. In November 2023, its annual growth rate was registered at 1.4 percent. (Figure 1, and Tables A and 2)

The deceleration in the annual growth rate of CMWPI was mainly caused by the annual decline of concrete products at 0.1 percent in November 2024 from 0.1 percent annual increment in the previous month.

In addition, compared with their respective annual growth rates in October 2024, slower annual increments were observed in the indices of the following commodity groups during the month:

a.    Hardware, 0.5 percent from 0.7 percent;
b.    Structural steel, 0.1 percent from 0.2 percent;
c.    Tileworks, 0.3 percent from 0.4 percent;
d.    Doors, jambs, and steel casement, 0.5 percent from 1.1 percent; and
e.    Electrical works, 0.5 percent from 0.9 percent.

Moreover, a faster annual decline was recorded in the index of cement at 2.1 percent in November 2024 from 2.0 percent annual drop in the previous month.

On the other hand, compared with their respective annual growth rates in October 2024, higher annual growth rates were recorded in the following commodity groups during the month:

a.    Lumber, 0.5 percent from 0.3 percent;
b.    G.I. sheet, 0.4 percent from 0.1 percent;
c.    Reinforcing steel, 1.2 percent from 1.0 percent; and
d.    Painting works, 1.2 percent from 0.6 percent.

In addition, slower annual decreases were recorded in the indices of plywood at 0.3 percent in November 2024 from 0.4 percent annual drop in the previous month, and fuels and lubricants at 1.6 percent in the current month from 2.1 percent annual decline in October 2024. Furthermore, a 0.1 percent annual increase was recorded in the index of metal products in November 2024 from a zero percent annual rate in the previous month.

The indices of the rest of the commodity groups either retained their respective October 2024 annual rates or had zero percent annual rates during the month. (Table 2)

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