Prices of construction materials rise in May

MANILA, Philippines - Retail prices of construction materials in Metro Manila grew at a faster rate in May on higher prices of carpentry and masonry materials, the National Statistics Office (NSO) reported yesterday.

The  construction materials retail price index (CMRPI)  rose four percent in May, faster than 3.9 percent in April.

Prices of carpentry materials grew by 0.1 percent in May from zero growth in April.

The masonry materials index grew 17.8 percent from 16 percent in April.

The electrical materials index eased to 6.6 percent in May from 6.7 percent in April; painting materials and related compounds index, 0.8 percent from 1.2 percent; plumbing materials index, 1.2 percent from 1.5 percent; and tinsmithry materials index, 5.8 percent from six percent.

The miscellaneous construction materials index continued to post negative annual rate of 2.2 percent from -3.3 percent.

Wholesale prices of construction materials in May in Metro Manila, on the other hand, also grew at a faster pace because of a higher uptick in the prices of cement, tileworks, G.I sheet concrete products and PVC pipes.

The Construction Materials Wholesale Price Index (CMWPI) rose 1.1 percent in May from 0.6 percent in April.

This resulted from a higher annual uptick in the cement index by 6.8 percent in May from 6.7 percent in April; tileworks index, 4.6 percent from 4.2 percent; G.I. sheet index, 3.7 percent from 2.1 percent; concrete products index, 2.2 percent from 1.2 percent; and PVC pipes index, 1.1 percent from 0.6 percent.

The fuels and lubricants index, however, posted a negative growth of six percent in May from -6.7 percent in April.

Slower annual gains were also seen in the indices of the following commodity groups: sand and gravel, 1.9 percent in May from 2.1 percent in April; plywood, 1.2 percent from 1.5 percent; lumber, 2.2 percent from 3.4 percent; reinforcing steel, 2.7 percent from 3.1 percent; structural steel, 1.3 percent from 2.2 percent; glass and glass products, 0.7 percent from 0.8 percent; and electrical works, 1.8 percent from 2.1 percent.

The machinery and equipment rental index registered zero growth in  May from April.