Prices of construction materials drop in July

MANILA, Philippines - Wholesale and retail prices of construction materials dropped again in July, dictated mainly by falling costs of fuels, lubricants and cement.

According to the Philippine Statistics Authority (PSA), the wholesale price index (WPI) of construction materials in the National Capital Region contracted one percent in July.

“The downtrend was primarily due to the further decreases in the annual rates of fuels and lubricants index at a 17.1 percent and a 0.8 percent rate for cement,” the PSA explained.

In addition, it noticed slower increments in the indices of plywood, lumber, G.I. sheet, glass and glass products, doors, jambs and steel casement, electrical works, plumbing fixtures and accessories and painting works.

However, higher growths were observed in sand and gravel index at 2.3 percent; concrete products index, 1.6 percent; hardware index, two percent; structural steel index, one percent; and tile works index, 0.9 percent.

The rest of the commodity groups retained their June rates, with the machinery and equipment rental index posting flat growth.

Slower monthly gains were likewise seen in the indices of sand and gravel and plumbing fixtures and accessories at 0.2 percent.

A series of price rollbacks was seen in gasoline and diesel. Prices of cement were also lower during the month.

However, prices of plywood, lumber, tiles, gravel and some plumbing fixtures and accessories were on the uptrend.

Meanwhile, retail prices construction materials went down 0.3 percent in July, from a growth of retail prices 0.1 percent the previous months and 1.3 percent in July 2014.

Annual declines were registered in the following indices: electrical materials, -1.6 percent; tinsmithry materials, -0.3 percent; and miscellaneous construction materials, -7.1 percent.

In addition, the PSA said slower annual upticks were noted in the indices of carpentry materials, 1.9 percent; masonry materials, 1.5 percent, painting materials and related compounds, 0.8 percent; and plumbing materials, 0.5 percent.