Month-on-Month

The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) recorded a decline of -0.3 percent in December from 0.3 percent in November. This can be attributed to the decreases in the prices of fuels and lubricants (-2.7 percent from 1.6 percent) and structural steel (-2.2 percent from -0.8 percent). Likewise, increments in the prices of sand, stone and gravel and exterior electrical equipment/supply were correspondingly slower at 0.2 percent and 0.1 percent from 1.2 percent and 3.3 percent, respectively. On the other hand, higher growth rates in the prices of the following commodity groups were observed: cement, 0.1 percent from -0.1 percent; hardware, 2.0 percent from -0.5 percent; metal pipes, 2.0 percent from zero growth; interior electrical fixtures and devices, 0.4 percent from 0.1 percent; and electrical rough-in materials, 0.6 percent from zero growth. Prices for the rest of the commodity groups generally remained stable as they registered zero growth this month.
 

Year-on-Year

The annual inflation rate of the CMWPI in NCR eased to 12.8 percent in December from 13.1 percent in November. Slower annual price additions were noted in the prices of cement, 6.3 percent in December from 6.4 percent in November; fuels and lubricants, 30.3 percent from 33.9 percent; and structural steel, 1.5 percent from 3.8 percent. Meanwhile, annual add-ons in the prices of sand, stone and gravel, hardware, metal pipes, exterior electrical equipment/supplies, interior electrical fixtures and devices, and electrical rough-in materials were higher while the annual rates seen in the prices of asphalt, aluminum and other metal products, blasting materials and machinery and equipment rental were zero. The rest of the commodity groups retained their previous month's rates.

Source: National Statistics Office
Manila, Philippines