Wholesale prices of construction materials in Metro Manila inched up to 1.1 percent in May from 0.6 percent in April, according to the latest Construction Materials Wholesale Price Index (CMWPI) of the National Statistics Office (NSO).
The agency said that this resulted from a higher annual uptick in the following indices: cement at 6.8 percent; tileworks at 4.6 percent; GI sheets at 3.7 percent; concrete products at 2.2 percent and PVC pipes at 1.1 percent.
However, the fuels and lubricants index still recorded a negative annual rate of 6 percent from -6.7 percent. Also, slower annual gains were seen in the indices of the following commodity groups: sand and gravel at 1.9 percent; plywood at 1.2 percent; lumber at 2.2 percent; reinforcing steel at 2.7 percent; structural steel at 1.3 percent; glass and glass products at 0.7 percent and electrical works at 1.8 percent.
“The rest of the commodity groups moved at their last month’s rates with the machinery and equipment rental index still registering a zero growth,” it stated.
Month-on-month, the CMWPI in Metro Manila improved to 0.1 percent in May from 0.2 percent.
“This was influenced by a 2.5-percent decline in the index for fuels and lubricants,” the agency said.
Moreover, slower monthly mark-ups were posted in the indices of cement, reinforcing steel and electrical works, while the monthly adjustment in the concrete index, GI sheet index and PVC pipes index grew.