Construction materials price index in NCR posts slower decline in September

The wholesale price index of construction materials in the National Capital Region (NCR) slipped by 0.2 percent in September, the Philippine Statistics Authority (PSA) reported Friday.

The decline was slower than the -0.5 percent recorded in August, mainly due to an uptick in the heavily weighted index of concrete products, which rose by 0.2 percent from a 0.6 percent drop in the previous month.

The index of tileworks also registered a faster annual increase of 1.6 percent from 1.5 percent in August.

Meanwhile, slower decreases were noted 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 increases were recorded in hardware (0.1 percent from 0.2 percent), lumber (0.9 percent from 1.2 percent), G.I. sheets (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 noted that the Construction Materials Wholesale Price Index (CMWPI) is a key economic indicator used to measure changes in wholesale prices of selected construction materials. It also serves as a basis for computing price escalation in government projects under Presidential Decree No. 1594.