Retail prices of construction materials in the National Capital Region rose by 1.6 percent in August, driven by increases in all indices, data from the Philippine Statistics Authority on Monday showed.
The August Construction Materials Retail Price Index (CMRPI) in the National Capital Region rose by 1.6 percent year-on-year, compared with the 0.4 percent decline posted in the same month a year ago.
PSA attribute the rise to the increments posted by all indices during the month, except for the tinsmithry materials index which was unchanged at 0.7 percent growth.
“Higher annual increments were observed in the indices of electrical materials at 1.2 percent; painting materials and related compounds, 1.5 percent; and plumbing materials, 1.8.percent,” PSA said.
In contrast, PSA noted that slower annual increases were posted in the indices of carpentry materials at 1.8 percent; masonry materials, 3.2 percent; and miscellaneous construction materials, 2.2 percent.
On a monthly basis, the CMPRI in NCR inched up by 0.2 percent in August, compared to the flat growth it posted in July.
“This was due to the 0.6 percent gain registered in electrical materials and plumbing materials indices and 0.2 percent in painting materials and related compounds index,” PSA said.
An increase was also recorded in the miscellaneous construction materials index, but at a slower pace at 0.2 percent.
Despite the overall growth of the monthly CMRPI, PSA noted declines in several indices, particularly, carpentry materials and masonry materials which dropped by 0.2 percent and 0.1 percent, respectively.
Also, the tinsmithry materials index posted flat growth the month.
“Upward price adjustments were noted in electrical wires, safety switch, PVC pipe, sanitary fixtures and G.I. pipes. On the other hand, lower prices were seen in plywood, common wire nail, finishing nail, sand and glazed tiles,” PSA said.