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By Darwin G. Amojelar, Reporter
PRICES of construction materials in Metro Manila
grew by double digits last month, as oil hit fresh records, the
National Statistics Office (NSO) said Tuesday.
The NSO said the construction materials
wholesale price index jumped to 13.5 percent in June from 9 percent
in May.
The agency said all commodity groups registered
higher prices except for lumber, asphalt, plumbing fixtures,
exterior electrical equipment/supplies, interior electrical fixtures
and devices, tile works, blasting materials, electrical rough-in
materials and UPVC water pipes.
On a month on month basis, construction
materials rose 4.7 percent in June from 1.8 percent in May.
The NSO attributed the increase to the
19.1-percent gain in the prices of aluminum and other metal products
from zero growth previously.
In addition, prices of fuels and lubricants
nearly doubled to 12.6 percent from 6.7 percent previously. Hardware
prices rose three-fold to 10.2 percent from 3.2 percent, while
prices of reinforcing steel, structural steel, and interior
electrical fixtures and devices rose to 7.8 percent from 5.8
percent, to 14.3 percent from 1.6 percent, and to 1 percent from 0.3
percent, respectively.
Prices of sand, stone and gravel also increased
to 3.5 percent; cement, 0.4 percent; plywood, 0.8 percent; wood
products, 2.8 percent; PVC pipes, 2.6 percent; paints, 0.4 percent;
G.I. sheets, 0.7 percent; and electrical rough-in materials, 1.1
percent.
Prices of metal pipes and concrete products,
however, slowed down to 1.1 percent and 0.5 percent from 1.9 percent
and 0.7 percent previously.
The soaring prices of construction materials are
hurting property companies as steel and cement are their main
requirements for building residential houses and condominiums.
Eton Properties Philippines Inc. earlier
announced that it ordered construction materials ahead to avoid
additional costs because of the increasing prices. Other companies
like SM Prime Holdings Inc., Keppel Philippines Properties Inc. and
Megaworld Corp. had said they were rethinking their expansion plans
this year on account of higher inflation.
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