MANILA, Philippines — Wholesale prices of building materials in Metro Manila continued its uptick amid more business activities as the alert level system in the capital was downgraded, the Philippine Statistics Authority (PSA) said.
The latest Construction Materials Wholesale Price Index (CMWPI), which is used as a reference in the costing of government projects, slightly rose at a faster pace of 4.7 percent in October from 4.6 percent in September.
The faster increase for the index is still due to returning demand in construction, as the government implements the looser alert level system in Metro Manila.
Last month, NCR was at Alert Level 3, allowing more business activities to start and resume operations.
For CMWPI, the index of fuels and lubricants registered the highest increase at 33.3 percent, the highest for the year.
Faster increments were also seen in the indexes of the following commodity groups: reinforcing and structural steel, PVC pipes, concrete products and cement, hardware, lumber, doors, jambs, and steel casement, electrical works, plumbing fixtures and accessories, and painting works.
Declines, on the other hand, were recorded in sand and gravel, plywood, galvanized iron sheet, and tile works.
Commodity groups with stable growth include glass products, asphalt, and equipment rentals.
The 2012-based CMWPI covers 101 items. The market basket includes selected construction materials identified from the bills of materials provided by the Department of Public Works and Highways, National Housing Authority, and Subdivision and Housing Developers Association.