December 2008

• Month-on-Month

            The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) continued to post a negative rate of 0.4 percent in December from -0.7 percent in November. This can be attributed to the further reductions in the corresponding prices of fuels and lubricants and electrical rough-in materials at -14.8 percent and -0.5 percent from -14.1 percent and -0.4 percent, respectively. A price decline was also observed in interior electrical fixtures and devices at -0.1 percent from-0.3 percent. From zero growth, prices of paints however went up to 0.1 percent while a slower growth rate was seen in the prices of cement at 0.1 percent from 0.3 percent. Price movements for the rest of the commodity groups generally remained stable as they registered zero growth during the month. 
   

• Year-on-Year

            The annual growth rate of the CMWPI in NCR eased to 20.0 percent in December from 20.6 percent in November as slower rates were noted in the price increments of most of the commodity groups. Annual price gains were however higher in the prices of fuels and lubricants, glass and glass products and plumbing fixtures while rates for the rest of the commodity groups were zero.

   

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  Source:    National Statistics Office
                    Manila, Philippines
  
  Page last revised:   January 21, 2009