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Manila Bulletin devider Business devider Construction material prices in NCR hold steady in Aug.

Construction material prices in NCR hold steady in Aug.

Published Sep 15, 2023 06:12 am

At A Glance

  • The Construction Materials Wholesale Price Index (CMWPI) for the National Capital Region (NCR) remained at 5.7 percent in August, the Philippine Statistics Authority (PSA) said.<br>From January to August, the growth rate reached 7.2 percent, slightly higher than the previous year's average of 7.1 percent during the same period.<br>Hardware materials, plywood, and G.I. (galvanized iron) sheet saw notable increases in prices.<br>Reinforcing and structural steel materials, doors, jambs, and steel casement, as well as electrical works, also experienced price growth.<br>Certain materials, such as sand and gravel, concrete products, cement, PVC pipes, and fuels and lubricants, showed slight declines in prices.<br>Wholesale prices of asphalt, machinery, and equipment rental remained unchanged.

The growth in wholesale construction materials in Metro Manila remained stable in August, the Philippine Statistics Authority (PSA) reported.

Based on the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) report, PSA said the index remained at 5.7 percent in August.

This brought the January to August growth to 7.2 percent, a bit higher than the 7.1 percent average recorded in the same period a year ago.

In July, the CMWPI declined to 5.7 percent while it was higher in August a year earlier at 7 percent.

The data showed the highest increases in hardware materials, which rose to 6.9 percent in August from 5.9 percent a month before; plywood at 4.5 percent from four percent; and G.I. (galvanized iron) sheet at 16.4 percent from 16 percent.

Increases in price growth were also seen in reinforcing and structural steel materials at 3.5 percent from 2.6 percent; doors, jambs, and steel casement at 5.1 percent from 4.6 percent; and electrical works at 6.2 percent from 5.5 percent.

Meanwhile, materials that posted slow declines in prices include indices of sand and gravel at 2.2 percent in August from 3.6 percent a month earlier; and concrete products and cement at 7.7 percent from 8.4 percent.

The price of PVC pipes also declined to 5.1 percent from 5.6 percent, as well as fuels and lubricants at 6.6 percent from 21.2 percent.

The wholesale prices of asphalt as well as machinery and equipment rental were at zero. (Xander Dave G. Ceballos)

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Philippine Statistics Authority (PSA)
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