Year-on-Year and Month-on-Month Growth Rates
of Construction Materials Retail Price Index
|All Items||December 2016||November 2016||December 2015||Year-to-date|
The year-on-year growth of the Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) decelerated by 1.8 percent in December 2016. It was pegged at 2.2 percent in November 2016 while it declined by 0.4 percent in December 2015. Higher annual increments were observed in the indices of carpentry materials at 1.8 percent and tinsmithry materials, 1.2 percent. The rest of the commodity groups recorded slower annual increases with the masonry materials index retaining its previous month’s growth of 3.0 percent.
The annual average growth of the CMRPI for all items for the year 2016 picked up by 1.3 percent. The annual average rate in 2015 was pegged at -0.1 percent. Higher annual average mark-ups during the year were noted in the indices of masonry materials and plumbing materials at 2.0 percent and 1.5 percent, respectively. Moreover, the annual average growths in the indices of electrical materials and miscellaneous construction materials correspondingly went up by 0.9 percent and 2.4 percent from negative rates registered the previous year. The other commodity groups exhibited lower annual average gains during the year (Table 2).
On a monthly basis, the CMRPI in NCR rose by 0.1 percent in December 2016. This was the same rate posted the previous month. The index of masonry materials went up at a faster pace of 0.3 percent. In addition, from zero growth in November 2016, the indices of carpentry materials inched up by 0.2 percent; tinsmithry materials, 0.3 percent; and miscellaneous construction materials, 0.1 percent. On the other hand, painting materials and related compounds index decreased by 0.1 percent while electrical materials and plumbing materials indices registered flat growth during the month (Table 3).
Higher prices were observed in hinges, cement, sand, glazed tiles, G.I. sheets and steel bars during the period.