February 2008

• Month-on-Month

            The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) slowed down to 0.4 percent in February from 1.4 percent in January. This can be attributed to the reductions in the corresponding prices of fuels and lubricants and machinery and transport equipment rentals at -1.8 percent and -0.4 percent from 0.3 percent and -1.0 percent, respectively. Moreover, increases in the prices of sand, stone and gravel decelerated to 0.7 percent in February from 1.5 percent in January; lumber, 1.0 percent from 1.3 percent; hardware and paints, 0.7 percent and 0.1 percent, from 1.4 percent; structural steel, 0.6 percent from 1.3 percent; interior electrical fixtures and devices, 1.2 percent from 3.2 percent; and electrical rough-in materials, 1.1 percent from 3.4 percent. On the other hand, higher growth rates were recorded in the prices of cement, PVC pipes, concrete products and UPVC water pipes. Prices for the other commodity groups generally remained stable as they registered zero growth in February. 
   

• Year-on-Year

            The annual inflation rate of the CMWPI in NCR picked up to 4.7 percent in February from 4.3 percent in January. Higher annual price adjustments were noted in sand, stone and gravel, lumber, plywood, fuels and lubricants, PVC pipes, paints, structural steel, interior electrical fixtures and devices, electrical rough-in materials and UPVC water pipes. Meanwhile, annual price additions in hardware and reinforcing steel were slower at 4.3 percent and 9.9 percent, respectively from their corresponding last month's rates of 4.6 percent and 10.1 percent. Inflation for the rest of the commodity groups retained their previous month's rates while those for asphalt, aluminum and other metal products and blasting materials were zero.

   

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  Source:    National Statistics Office
                 Manila, Philippines
  
  Page last revised:   April 5, 2008