Latest data from state-run National Statistics Office (NSO) showed that construction prices in September went down slightly, which was attributed to the slowdown of fuels and lubricants, cement, tile works and glass prices.
In a statement, the NSO said that wholesale construction prices slowed to a yearly growth rate of 1.6 percent in September compared to the 2 percent in August.
Though indices of wholesale prices for tile works, cement, glass and glass products, fuels and lubricants slid, wholesale price indices for other construction materials still recorded high rates that led to the small difference of 0.4 percent.
“The indices for most of the commodity groups recorded higher annual rates while those for structural steel and asphalt were at their last month’s rates. Movement in the machinery and equipment rental index was still zero,” the NSO said.
Though some construction materials posted a decrease in prices on a monthly basis, other materials which posted zero growth rates last month increased slightly in September: Pipes (0.9 percent); lumber (0.6 percent); doors, jambs and steel casement (0.5 percent); plywood and plumbing fixtures and accessories or waterworks (0.4 percent); tile works (0.3 percent); concrete products (0.2 percent); and sheet and painting works (0.1 percent).
“Prices of plywood, reinforcing steel, PVC doors, selected electrical works, some plumbing fixtures, paints and diesel oil were on the uptrend. Meanwhile, cement and lubricating oil were priced lower during the period,” the NSO said.
On the other hand, retail prices of construction materials inched up a bit in yearly rates with September posting 1.9-percent growth while August rates were at 1.8 percent.
The retail prices uprise was caused by an increase in the price indices of electric materials, masonry materials, miscellaneous construction materials and tinsmithry materials.
“Price add-ons were noted in selected wiring devices, tinsmithry materials and steel bars. On the contrary, downward price adjustments were seen in plywood, nails, cement, paints and pipes,” the statistical office said.