The annual increase in the retail prices of construction materials in Metro Manila grew by 3.9 percent in April, data from the National Statistics Office (NSO) said.
According to construction materials retail price index (CMRPI), the April figure was lower compared to the 3.8 percent recorded in March.
The NSO data noted that higher annual gain was recorded in the indices of electrical materials, masonry materials, painting materials and related compounds and tinsmithry materials.
However, the data added that the annual increase in plumbing materials index eased to 1.5 percent from 1.6 percent, while that for miscellaneous construction materials index was still on a decline at 3.3 percent from -1.8 percent.
“The carpentry materials index registered a zero annual growth during the month from 0.4 percent,” it stated.
On the other hand, the NSO also said that the monthly adjustment in CMRPI in Metro Manila went up by 0.3 percent in April, the same rate posted in the previous month.
It explained that higher monthly increments were observed in the indices of the following commodity groups: electrical materials; masonry materials; and painting materials and related compounds.
On the contrary, the data said that a negative rate was still noticed in the miscellaneous construction materials index, while carpentry and plumbing materials indices also dropped.
“Price hikes were seen in selected electrical wires and wiring devices, cement, paints and related compounds,” it stated.
Mayvelin U. Caraballo