Wholesale and retail prices of construction materials in the National Capital Region (NCR) rose in November, data from the Philippine Statistics Authority showed on Wednesday.
The November Construction Materials Wholesale Price Index (CMWPI) posted an annual increase of 2.1 percent and the Construction Materials Retail Price Index (CMRPI) increased by 2.2 percent.
The annual gain in the wholesale index was driven by the growth in the indices of sand and gravel at 3.7 percent; concrete products, 2.3 percent; hardware, 0.8 percent; and reinforcing steel at 7.0 percent.
Slower annual gains in wholesale prices were also registered in the indices of cement at 3.1 percent; plywood, 0.6 percent; and fuels and lubricants at 2.8 percent.
However, PSA noted that several indices posted declines in their annual rates such as lumber at -0.6 percent; G.I. sheet, -2.7 percent; structural steel, -3.2 percent; tileworks, -1.0 percent; doors, jambs and steel casement, -1.6 percent; and painting works, -0.4 percent.
“Other commodity groups either retained their last month’s rates or had a flat growth,” PSA said.
In contrast, the annual growth of the retail price index was driven by the higher annual mark-ups in the indices of carpentry materials at 1.7 percent and masonry materials and plumbing materials, both at 3.0 percent.
“On the other hand, lower annual increases were registered in the indices of electrical materials at 1.3 percent; tinsmithry materials, 0.8 percent; and miscellaneous construction materials, 10.1 percent,” PSA said.
In addition, painting materials and related compounds index remained unchanged at 1.6 percent.
Meanwhile, on a monthly basis, both the wholesale price and retail price index saw annual gains, but at a slower pace in the month of November at 0.3 percent and 0.1 percent, respectively.
In October, the whole price index grew by 0.4 percent, while the retail price index rose by 0.2 percent.
The monthly growth in retail price was driven by the increment in the plumbing materials index at 0.4 percent.
Also, the electrical materials index posted a slower growth at 0.1 percent, while masonry materials inched up by 0.1 percent from registering a flat growth last month.
“The indices of carpentry materials; painting materials and related compounds; tinsmithry materials; and miscellaneous construction materials posted a flat growth during the month,” PSA said.
In contrast, the growth in the wholesale price index was led by reinforcing steel, which posted a 0.4 percent gain.
Also, several indices rose from their flat growth in the previous month. Sand and gravel rose 0.6 percent; concrete products, 0.5 percent; hardware, 0.4 percent; and tileworks, 0.1 percent.
However, the indices of cement and plywood went down by 0.4 percent and 0.1 percent, respectively, while a slower increment was noticed in fuels and lubricants index at 0.2 percent.
PSA noted that prices of gravel, hollow blocks, nails, welding rod, hinges, steel bars and vinyl tile were on the uptrend in November.
“Price hikes were also noted in gasoline, diesel and fuel oil. These were however, tempered by the downward adjustments in the prices of cement and plywood,” PSA said.