The annual increment of CMRPI increased further to 7.0 percent in July 2022, from its previous month’s annual rate of 6.8 percent. This is the highest recorded annual growth rate of the index since January 2009. In July 2021, its annual growth rate was lower at 1.4 percent.
The uptrend of CMRPI in NCR was primarily due to higher mark-up in the painting materials and related compounds index, at 5.7 percent; carpentry materials, at 3.2 percent; and masonry materials, at 4.4 percent.
On the other hand, relative to their previous month’s annual increases, lower annual hikes were noted in the indices of the following commodity groups during the month:
a. Electrical materials, 4.4 percent; b. Plumbing materials, 8.1 percent; c. Tinsmithry materials, 9.3 percent; d. Miscellaneous construction materials, at 9.8 percent.
Source: PSA