The rate of price increases in wholesale construction materials in the National Capital Region (NCR) slowed down to 3.8 percent in March 2017.
Data on Construction Materials Wholesale Price Index (CMWPI) released by the Philippine Statistics Authority (PSA) indicated that last month’s figure was a turnaround from the 4-percent increase in February 2017 and 0.2 percent in March 2016.
“Negative annual rates were still noted in the indices of plywood at -0.4 percent and electrical works, -0.5 percent,” it said.
Moreover, slower annual hikes were posted in the indices of sand and gravel (2 percent), concrete products (1.6 percent), cement (0.7 percent), hardware (1.1 percent) and fuels and lubricants (16.6 percent).
Higher annual increments were, however, seen in the indices of lumber (2.4 percent); reinforcing steel (7.5 percent); structural steel (2 percent); tileworks (0.6 percent); doors, jambs and steel casement (0.7 percent); and painting works and polyvinyl chloride (PVC) pipes (1.3 percent).
Month-on-month, the CMWPI in NCR had a zero growth in March 2017 due to the offsetting price trends observed among the commodity groups. It picked up by 0.3 percent in the previous month.
From a zero growth in February 2017, the index for PVC pipes gained by 0.7 percent.
Moreover, the indices of reinforcing steel and electrical works both went up by 0.2 percent and lumber, 1.1 percent.
Meanwhile, slower rates of increases were noticed in the indices of sand and gravel at 0.2 percent and doors, jambs and steel casement, 0.1 percent.
The indices of cement went down by 0.1 percent and fuels and lubricants, -1.1 percent.
The rest of the commodity groups either retained their previous month’s rate or had a zero growth.
Higher prices were recorded in gravel, hollow blocks, coco lumber, steel bars, some plumbing fixtures, electrical materials, paint products and PVC pipes.