Construction materials prices in NCR dip 0.2% in September

The construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) dropped by 0.2 percent in September, slightly slower than the 0.5 percent decline recorded in August, the Philippine Statistics Authority (PSA) reported recently.

The PSA said the slower decrease was mainly due to higher prices in the heavily weighted index of concrete products, which rose by 0.2 percent after a 0.6 percent decline in the previous month.

A faster annual increase was also noted in tileworks at 1.6 percent from 1.5 percent in August.

Meanwhile, slower declines were observed in cement (-1.2 percent from -1.3 percent), electrical works (-0.4 percent from -0.5 percent), and fuels and lubricants (-2.8 percent from -3.2 percent).

On the other hand, slower annual gains were recorded in hardware (0.1 percent from 0.2 percent), lumber (0.9 percent from 1.2 percent), G.I. sheet (0.4 percent from 0.7 percent), doors, jambs and steel casement (0.5 percent from 0.6 percent), and painting works (1 percent from 1.1 percent).

The PSA said the CMWPI measures changes in the average wholesale prices of selected construction materials and serves as a key reference in computing price escalations for government projects under Presidential Decree No. 1594.