Year-on-Year and Month-on-Month Growth Rates
of Construction Materials Retail Price Index
|All Items||October 2016||September 2016||October 2015||Year-to-date|
The annual change of the Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) continued to move upward at 2.3 percent in October 2016. Last month, it increased by 2.0 percent, while in October 2015, it declined by 1.4 percent. The uptrend was primarily due to the double-digit annual gain of 11.4 percent posted in miscellaneous construction materials index. Moreover, higher annual mark ups were noted in the indices of electrical materials at 1.5 percent; painting materials and related compounds, 1.6 percent; and tinsmithry materials, 1.1 percent. However, the annual uptick in masonry materials index decelerated to 2.9 percent while those for the indices of carpentry materials and plumbing materials moved at their previous month’s rates of 1.6 percent and 2.6 percent, respectively (Table 2).
The CMRPI in NCR inched up 0.1 percent in October 2016 compared to -0.1 percent last month. A higher increment of 0.3 percent was observed in miscellaneous construction materials index. In addition, from negative rates recorded last month, the indices of carpentry materials rose 0.1 percent and painting materials and related compounds, 0.2 percent. The index for electrical materials likewise, went up by 0.2 percent. On the contrary, the increase in plumbing materials index slowed down to 0.1 percent, while those for the indices of masonry materials and tinsmithry materials posted a flat growth during the month (Table 3).
Upward adjustments were registered in the prices of plywood, machine bolt and nuts, wiring devices, cement and hollow blocks, sand paper, faucet, G.I. pipes and steel bars.