Prices of construction materials rise for 5th straight month in April

MANILA, Philippines - Wholesale and retail prices of construction materials in Metro Manila rose for the fifth straight month in April on higher prices of cement, reinforcing steel and carpentry materials, the Philippine Statistics Authority (PSA) reported.

The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) rose 0.7 percent in April, reversing the negative growth rate of 0.8 percent in the same month last year.

Wholesale prices of building materials in Metro Manila have been rising since December.

Higher annual increments were registered in the indexes of cement and reinforcing steel at 0.8 percent and 3.7 percent, respectively. The PVC pipes index moved up 0.4 percent after it recorded a one percent drop last month.

Meanwhile, annual gains were slower in the indexes of sand and gravel at 3.7 percent; hardware, 0.9 percent; plywood, 1.0 percent; electrical works, 1.7 percent; and plumbing fixtures and accessories/waterworks, 3.5 percent.

Negative annual rates were still seen in the indexes of lumber at 0.7 percent; G.I. sheet, 2.7 percent; structural steel, 3.8 percent; tileworks, 0.1 percent; painting works, 0.7 percent; and fuels and lubricants, 6.5 percent.

The indexes of other commodity groups registered flat growth.

Retail prices of construction materials in the metro, meanwhile, picked up 1.4 percent in April, from zero growth in the same period last year. This is also faster than the 0.9 percent growth in March.

Higher annual upward adjustments were observed in the indexes of carpentry materials at 1.2 percent; masonry materials, 1.8 percent; and painting materials and related compounds, 1.5 percent.

Slowdowns, meanwhile, were seen in the indexes of electrical materials and plumbing materials by 1.5 percent and one percent, respectively.

The annual change in the indexes of tinsmithry materials and miscellaneous construction materials declined 0.6 percent and 0.1 percent, respectively.