MANILA, Philippines — Wholesale prices of construction materials in the National Capital Region (NCR) accelerated in August, largely due to the growth in the heavily weighted indexes of concrete products and cement as well as sand and gravel, the Philippine Statistics Authority (PSA) said.
The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) during the month rose to 3.5 percent from three percent in July. The growth rate, however, was slower than the 4.6 percent registered in August.
This brings the year-to-date average to 3.4 percent in August. The CMWPI is used as a reference in the costing of government projects
Month-on-month, growth in the index swung to a positive 0.8 percent, reversing the negative 0.3 percent growth in July.
Faster annual increases were seen in the indices of sand and gravel, concrete products and cement, galvanized iron sheets, tileworks, as well as plumbing and fixtures.
The likewise heavily weighted index for reinforcing steel rose by 1.3 percent from a previous negative growth.
Slower annual gains, meanwhile, were seen in the indices of the following commodity groups during the reference month: hardware, plywood, lumber, electrical works and pvc pipes.
Declines, meanwhile, were seen in the indices of doors, jambs and steel casement; painting works, as well as fuel and lubricants.
The CMWPI covers 16 commodity groups comprising around 100 materials identified from the bills of materials of government infrastructure agencies.
The PSA monitors prices of selected construction materials from the first week to third week of the reference month.
Data are collected from the sample outlets chosen based on popularity of an establishment along the line of goods to be priced as well as the consistency, completeness of stock, permanence of the outlet, and accessibility of location.