BUILDING a house and other edifices is now more affordable in the National Capital Region (NCR) as prices of construction materials continued to decline in November, according to data from the Philippine Statistics Authority (PSA).
Based on the PSA’s Construction Materials Wholesale Price Index (CMWPI), prices of construction materials declined by 0.2 percent year-on-year in November against the 0.8 percent growth recorded in the same period last year.
In October, the CMWPI fell 0.8 percent from a year ago.
The CMWPI measures the shifts in prices at which wholesalers market their products.
The PSA said annual declines were observed in the indices of cement, which decreased by 1.1 percent; reinforcing steel which slipped 0.1 percent; and fuels and lubricants, down 11.7 percent.
“Moreover, slower annual increases were observed in the indices of sand and gravel at 2.2 percent; hardware, 2.4 percent; plywood, 2.9 percent; G.I. sheet, 0.3 percent; structural steel, 0.5 percent; electrical works, 1.9 percent; and plumbing fixtures and accessories, 5.1 percent. On the other hand, the concrete products index went up faster at 2.0 percent,” the PSA said.
It noted that prices of the rest of the commodity groups, such as the glass and glass products index, were unchanged.
The PSA said that the CMWPI was slightly higher in November compared to the 0.8 percent decline recorded in October due to bigger increments seen in the indices of concrete products at 0.2 percent and fuels and lubricants, 1.3 percent.
Other commodity groups include sand and gravel, cement, hardware, plywood, lumber and electrical works, among others.
“Price hikes were noticed in gasoline and diesel. Likewise, concrete products were generally priced higher during the month,” the PSA said.