Construction materials prices down slightly

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The construction materials prices index in August went down slightly compared to the month of July this year, attributable to the drop of electrical and plumbing materials indices.

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According to a National Statistics Office (NSO) records, construction materials prices in the National Capital Region (NCR) went down from 0.2 percent in July to 0.1 percent in August. The annual rise of construction prices was retained at 1.8 percent, both for August and July.

“Price add-ons were noted in selected lumber, plywood, cement, paint, hollow blocks, sand paper and GI pipes,” the NSO said, referring to the construction materials they observed.

The carpentry and masonry prices indices were slower, both having 0.1-percent increase compared than their last month’s record of 0.4 percent and 0.3 percent, respectively.

For the month of August, the painting materials and related compounds index grew by 0.3 percent from 0.4 percent in July.

The index of tinsmith materials, on the other hand, advanced 0.2 percent from the negative 0.4 percent in July, while having an annual increase of 0.6 percent.

Overall construction materials index continued to drop from 5-percent price index growth in August 2012 to 2 percent during the same time this year.

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