Month-on-Month

The monthly growth of the wholesale price index of selected construction materials in the National Capital Region dropped by -0.3 percent in May from 0.7 percent in April. It resulted from a decline recorded in fuels and lubricants index at -3.2 percent in May from -0.1 percent last month. In addition, slower monthly gains were seen in the following indices: sand and gravel (0.2% from 1.6%); concrete products (0.1% from 1.1%); plywood (0.2% from 0.6%); lumber (1.3% from 1.6%); structural steel (0.9% from 1.2%); and electrical works (0.5% from 1.0%). The rest of the commodity groups either posted higher monthly increments or had a zero growth.

Price rollbacks were observed in gasoline and diesel oil during the period while upward adjustments were seen in the prices of gravel, plywood, lumber, steel bars, angle bars and some electrical works.

Year-on-Year

The annual increase in the Construction Materials Wholesale Price Index (CMWPI) in NCR further improved to 3.6 percent in May from 4.0 percent in April. A negative annual rate was still noted in the cement index at -0.3 percent in May from -3.3 percent in April. Moreover, annual hikes slowed down in the indices of most of the commodity groups. On the other hand, the index for glass and glass products grew by 0.3 percent from 0.1 percent. The same previous month's annual rates were registered in the indices of concrete products, G.I. sheet and reinforcing steel while that for machinery and equipment rental index was still zero.

Source: National Statistics Office
Manila, Philippines

Page last revised: June 8, 2012