Slight uptick in wholesale prices of building materials seen in May

MANILA, Philippines — A slight uptick in the index of wholesale prices of building materials was recorded in May after four consecutive months of decline, the Philippine Statistics Authority (PSA) said.

Growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) was faster at three percent compared with 2.7 percent in April.

The index is used as a reference in the costing of government projects.

In May, upticks were seen in the indexes of the following commodity groups: concrete products and cement, hardware, plywood, lumber, galvanized iron sheets, as well as plumbing fixtures and accessories.

Slower gains, meanwhile, were seen in the indexes of sand and gravel, electrical works, and fuels and lubricants. Declines were seen in the indexes of reinforcing and structural steel, as well as doors, jambs and steel casement.

Month-on-month change in the CMWPI in NCR was faster at 0.3 percent in May from zero growth in April.

Retail prices of building materials in NCR, meanwhile, grew at a slower pace of 1.6 percent in May from 1.7 percent in April.

Slower growth was seen in the indexes of carpentry materials, electrical materials, and miscellaneous construction materials.

On the other hand, faster growth was seen in the indexes of masonry materials. The rest of the commodity groups registered flat growth.

Month-on-month, growth in the Construction Materials Retail Price Index in NCR, meanwhile, was flat in May.