The Philippine Statistics Authority (PSA), through the National Statistics Office (NSO), said on Wednesday that prices of wholesale construction materials went up by 2.4 percent in January, as 13 construction commodity groups saw their prices increased within the month.
Through NSO’s January Construction Materials Price Index (CMPI) released on Wednesday, the PSA said that the annual wholesale prices of construction materials rose because of the increased prices in 13 commodities, with sand and gravel having the highest increase of 3.2 percent in January from the 1.5 percent recorded in the same month last year.
On a monthly basis, prices of wholesale construction materials went up slightly by 0.2 percent because of the increase in prices of 11 major commodities including tileworks, cement, and sand and gravel, among others.
“Upward price adjustments were observed in gravel, sand, cement, plywood, lumber, GI [galvanized iron]sheets, floor tiles, selected hardware items, glass and glass products, door jambs, panel doors, PVC [polyvinyl chloride]pipes and some electrical works, while reductions in the prices of diesel oil were seen during the period,” the PSA said.
At the retail level, prices of construction materials went down by 0.5 percent because of the decrease in retail prices of paint materials, and other related compounds and miscellaneous construction materials.
The PSA said that retail prices of construction materials also went down on a monthly basis, going down by 0.2 percent in January compared to previous month. The statistical body said that this was because of the decline in retail prices of carpentry, electrical and paint materials, among others.
“Lower price quotations were generally observed in common wire nails, electrical wires and wiring devices, paints, sand paper, GI pipes and steel bars. Meanwhile, prices of cement and tinsmithry materials went up during the month,” the PSA said, citing lowered prices of retail construction materials.
The PSA, which is the collective body of statistical units such as the NSO and the National Statistical Coordination Board, records the CMPI in the wake of increased construction activities in the country, including government efforts for infrastructure development.