Prices of construction materials up in March Prices of construction materials up in March

MANILA, Philippines - Wholesale and retail prices of construction materials in Metro Manila rose at a slower pace in March because of lower price hikes in key building materials such as sand and gravel, concrete products and cement, the Philippine Statistics Authority (PSA) reported yesterday.

The year-on-year growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) slowed down to 3.8 percent in March from four percent in February. This was faster, however, than the growth of 0.2 percent registered in March 2016.

PSA said negative growth was seen in the prices of plywood and materials for electrical works.

Slower annual price hikes were also seen in the following materials: sand and gravel, concrete products, cement, hardware, fuels and lubricants.

Higher prices, however, were registered in the following commodity groups: lumber; reinforcing steel; structural steel; tileworks; doors, jambs and steel casement; and painting works and PVC pipes.

Other commodity groups had flat or zero growth in prices in March.

Retail prices of building materials in NCR likewise grew at a slower pace in March as seen in the 1.7 percent year-on-year growth in the Construction Materials Retail Price Index (CMRPI), down from 2.2 percent in February, but up from 0.8 percent in March 2016.