The year-on-year change of Construction Materials Wholesale Price Index (CMWPI) in Metro Manila picked up by 2% in February 2021 from 1.2% in January 2021 to 1.5%.
In February 2020, its annual rate was recorded at 1.5%.
Based on data releases by the Philippine Statistics Authority, compared with their annual rates in January 2021, annual increases were higher in the indices of the following commodity groups in February 2021:
a. Concrete products and cement, 1.2%;
b. Hardware, 1.5%;
c. Reinforcing and structural steel, 3.3%; and
d. Doors, jambs, and steel casement, 0.5%.
Similarly, the index of electrical works exhibited an annual increment of 0.4% in February 2021, from an annual decline of -0.01% in January 2021.
Moreover, the index of glass and glass products rose at an annual rate of 14.4%, from zero% annual growth in the previous month.
Meanwhile, annual upticks were slower in the indices of the following commodity groups during the month: a. Sand and gravel, 3.5%; b. Lumber, 2.8%; c. Tileworks, 2.2%; d. Painting works, 0.3%; and e. PVC pipes, 0.6%.
Annual decreases were still observed in the indices of plumbing fixtures and accessories/waterworks at -1.3%; and fuels and lubricants, -0.3%.
The rest of the commodity groups either retained their previous month’s annual growth rates or had zero% annual growth during the month.