Prices of building materials in Metro Manila ease in October

MANILA, Philippines — Wholesale prices of building materials in Metro Manila eased in October after registering upticks in August and September, the Philippine Statistics Authority (PSA) reported yesterday.

Growth in the Construction Materials Wholesale Price Index in the National Capital Region (NCR), which is used as a reference in the costing of government projects, slowed down to 2.6 percent year-on-year in October from 3.8 percent in September.

PSA said there were declines in the heavily weighted index of reinforcing and structural steel as well as in the indexes of doors, jambs and steel casement; and fuels and lubricants.

Slower growth, meanwhile, was seen in the indexes of sand and gravel; concrete products and cement, and galvanized iron sheet.

On the other hand, higher annual mark-ups were noted in the indexes of the following commodity groups: hardware, plywood, lumber, 4.1 percent, tileworks, electrical works plumbing fixtures and accessories/waterworks, painting works, and PVC pipes.

The rest of the commodity groups had zero growth during the month.

Month-on-month, the CMWPI declined by 0.3 percent, reversing the growth of 0.5 percent in September.

The CMWPI covers 17 commodity groups comprising 101 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.