• Building items retail prices down 0.9%

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    WHILE wholesale prices of construction materials in Metro Manila edged higher in January, retail prices of the items fell a bit by 0.90 percent, the Philippine Statistics Authority reported Friday.

    Based on PSA’s Construction Materials Retail Price Index (CMRPI) for January, retail prices for selected construction materials dropped by 0.9 percent, swinging from a 1.9 percent increase in January 2015.

    The PSA said miscellaneous construction materials led the price drop, with the group’s index declining 5.8 percent from year-ago levels.

    Similarly, the indices of masonry materials fell by 3.0 percent; plumbing materials dropped by 0.6 percent; and masonry materials fell1.4 percent.

    On the other hand, the indices of painting materials and related compound inched up, though at a slower pace, by 1percent, while carpentry materials remained with 0.8 percent rise.

    Meanwhile, on a monthly basis, the CMRPI in NCR went down by 0.5 percent, as most indices dropped.

    Tinsmithry materials further moved down at -0.5 percent during the month.

    “In addition, from their positive growths in December 2015, the electrical materials index contracted by 1.1 percent; masonry materials index, -0.7 percent; painting materials and related compounds index, -0.6 percent; and plumbing materials index, -0.1 percent,” the PSA said.

    On the other hand, the index of carpentry materials inched up month-on-month, though at a slower pace, by 0.1 percent, while the index of miscellaneous construction materials edged higher by 0.4 percent.

    “Price cuts were observed in cement, selected electrical wires, common wire and finishing nails, G. I. pipes, and corrugated G. I. sheets,” the PSA said.

    The PSA’s General Retail Price Index (GRPI) is a statistical measure of the changes in the prices at which retailers dispose of their goods to consumers or end-users relative to a base year.

    The CMRPI is a variant of the GRPI that measures the changes in the average retail prices of construction materials.

    Earlier this week, PSA reported that wholesale prices of construction materials for the month of January edged up by 0.8 percent from a 1.1-percent decrease registered a year ago.

    This was driven by the increase in wholesale prices of most commodity groups.

    PSA defines wholesale price as the price of commodity transacted in bulk for further resale or processing.

    “It is the actual ‘spot’ transaction price received usually by the wholesalers, distributors, or marketing agents for large lots but net of discounts, allowances, and rebates,” the PSA explained. “It is the sum of the producer price, wholesale trade margin, tax mark-ups, and distribution cost of the wholesaler.”

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