Prices of construction materials down in Jan

MANILA, Philippines - The rate of increase in the prices of construction materials in the National Capital Region (NCR) slowed to 3.6 percent in January from 4.6 percent in December, the National Statistics Office (NSO) reported yesterday.

Prices of electrical, masonry and painting materials and related compounds declined month-in-month, according to the government statistics office.

The index of tinsmithery materials was lower in January, while the rest of the commodity groups exhibited higher growth rates in December.

The index of carpentry materials increased 5.3 percent in January from December, plumbing to 2.5 percent from 2.2 percent, and miscellaneous materials to 12.9 percent from 11.6 percent.

Price reductions were also noted in selected electrical wires and wiring devices, cement, paints and related compounds, sand paper and GI sheet. On the other hand, price hikes were seen in common wire nails and plain round steel bars.

Slower annual rates were also observed in the following indices: concrete products, hardware lumber, reinforcing steel, tileworks, doors, jambs and steel casement, PVC pipes and fuels and lubricants.