March 2008

• Month-on-Month

            The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) went up by 0.9 percent in March from 0.4 percent in February. This was mainly due to the 6.1 percent increment in the inflation of asphalt from zero growth last month. Higher growth rates in the prices of the following commodity groups also contributed to the uptrend: cement, 0.6 percent from 0.5 percent; fuels and lubricants, 2.1 percent from -1.8 percent; reinforcing steel, 1.6 percent from zero growth; structural steel, 3.5 percent from 0.6 percent; interior electrical fixtures and devices, 2.9 percent from 1.2 percent; machinery and equipment rental, 0.8 percent from -0.4 percent; and electrical rough-in materials, 3.2 percent from 1.1 percent. On the other hand, price increases were slower in hardware, PVC pipes, concrete products and UPVC water pipes. Price hike in sand, stone and gravel was still at 0.3 percent while prices for the other commodity groups generally remained stable as they recorded zero growth during the month. 
   

• Year-on-Year

            The annual inflation rate of the CMWPI in NCR accelerated to 5.4 percent in March from 4.7 percent in February. Annual price gains were higher in sand, stone and gravel, cement, fuels and lubricants, asphalt, PVC pipes, reinforcing steel, structural steel, interior electrical fixtures and devices, electrical rough-in materials and UPVC water pipes. Slower annual inflation rate was however noted in concrete products. The annual price reduction in machinery and equipment rental was at -8.7 percent from -9.2 percent. The rest of the commodity groups retained their previous month's rates while inflation for blasting materials was zero.

   

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  Source:    National Statistics Office
                    Manila, Philippines
  
  Page last revised:   April 18, 2008