Construction materials in Metro Manila up in November 2018

MANILA, Philippines — Wholesale prices of building materials in the National Capital Region (NCR) rose marginally in November, while retail prices decelerated slightly, the Philippine Statistics Authority (PSA) reported.

The Construction Materials Wholesale Price Index (CMWPI) for NCR grew at a faster rate of 8.1 percent last month from eight percent in October.

It registered a year-on-year growth of 7.6 percent during the reference month.

The CMWPI, which covers 18 commodity groups, is used for the computation of price escalation of construction materials for various government projects as required under the law. It uses 2000 as the base year.  

Annual markups were seen in the indices of the following commodity groups: sand and gravel; concrete products,  cement, structural steel,  tile works,  doors, jambs, and steel casement, electrical works, plumbing fixtures and accessories as well as waterworks.

On the other hand, slower annual increases were registered in hardware, reinforcing steel, painting works, fuels and lubricants.

The index for asphalt and machinery and equipment rental registered zero growth during the reference period.

Retail prices of building materials, meanwhile, grew at  a slower pace in November.

Growth in the Construction Materials Retail Price Index (CMRPI) for NCR slowed down to 2.2 percent in November from 2.3 percent in October.  It registered a year-on-year growth of 2.3  percent during the reference month.

Slower annual gains were seen in the indices of electrical materials, masonry materials, and miscellaneous construction materials.

On the other hand, annual increments were seen in carpentry materials, plumbing materials, and tinsmithry materials.

Prices for the CMWPI and CMRPI are collected through personal interviews or actual price quotations from selected sample outlets in NCR. Collection of prices is done during the first to third week of the reference month.