Prices of building materials continue to rise in July 2018 – PSA

MANILA, Philippines — Wholesale prices of building materials in Metro Manila, which influences the cost of government projects, rose at a slower pace in July, the Philippine Statistics Authority (PSA) reported.

Growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) slowed to 8.4 percent in July 2018 from 8.8 percent in June 2018. This, however, was faster than the 1.7 percent growth registered in July 2017.

PSA said slower annual increments were seen in the indices of the following commodity groups during the reference period: sand and gravel; concrete products; plywood; doors, jambs, and steel casement; as well as fuels and lubricants.

Other commodity groups registered faster price increases except for the following that recorded zero growth in prices: glass and glass products, asphalt and machinery and equipment rental.

The CMWPI is used for the computation of price escalation of construction materials for various government projects as required by law. It uses 2000 as the base year. 

The index, which covers 18 commodity groups, has been rising steadily since January.

Covered by the index are: sand and gravel, concrete products, cement, lumber, plywood, fuels and lubricants, asphalt, glass and glass products, hardware, PVC pipes, plumbing fixtures, painting works, reinforcing steel, structural steel, G.I. sheets, electrical works, tileworks, as well as doors, jambs and steel casement.

Prices 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.