Construction prices down in November

MANILA, Philippines - Wholesale and retail prices of construction materials in Metro Manila continued to drop in November.

Data from the Philippine Statistics Authority showed that the Construction Materials Retail Price Index  fell  0.8 percent last month.  In November 2014, it grew by 0.8 percent.

According to the PSA, annual declines were noted in the indices of cement (down 1.1 percent); reinforcing steel (0.1 percent) and fuels and lubricants (11.7 percent).

But slower annual increases were observed in the indices of sand and gravel (2.2 percent), hardware (2.4 percent),  plywood (2.9 percent), G.I. sheet (0.3 percent), structural steel ( 0.5 percent), electrical works (1.9 percent), and plumbing fixtures and accessories (5.1 percent).

On the other hand, the concrete products index went up faster by two percent.

“The rest of the commodity groups retained their last month’s rates with the glass and glass products index registering a zero growth,” the PSA said.

On a monthly basis, the construction price index inched up 0.2 percent in November.

This was attributed to higher increments seen in the indices of concrete products, fuels and lubricants. The rest of the commodity groups posted zero growth during the month.

Price hikes were noticed in gasoline and diesel and concrete products.

Meanwhile, the general retail price index  in the NCR went up 0.54 percent in November.

The heavily-weighted food index recorded a higher annual mark-up of 2.6 percent.

Slower annual upticks were noted in beverages and tobacco, chemicals, including animal and vegetable oils and fats, and miscellaneous manufactured articles.

Meanwhile, negative annual rates were noted in the following  indices: crude materials. inedible, except fuels, mineral fuels, lubricants and related materials, manufactured goods classified chiefly by materials, and machinery and transport equipment.

Compared to its last month’s level, the price index in NCR increased by 0.2 percent in October.

Food index moved up by 0.6 percent due to higher prices of fish, vegetables, fruits and sugar.

Likewise, the prices of petroleum products such as gasoline, diesel fuel and kerosene pushed up the index of mineral fuels, lubricants and related materials by 0.2 percent.

Prices of selected cosmetics, soap and other washing and cleaning compounds generally went down during the month. Meanwhile, the index of chemicals ( including animal and vegetable oils and fats) declined by 0.4 percent.

The machinery and transport equipment index dropped 0.1 percent as the price of electric stove decreased during the month.

Price cuts in selected furniture and fixtures, undergarments and footwear resulted in a 0.1 percent decrease in the miscellaneous manufactured articles index.