Prices of construction materials rose in March

The Construction Materials Retail Price Index (CMRPI), on an annual basis in the National Capital Region, moved up by 0.8 percent in March, but it declined by 0.4 percent in February, while it increased by 0.1 percent in the same month last year, it was learned recently. 

Annual upward adjustments were observed in the indices of masonry materials and plumbing materials at 1.7 percent and 1.2 percent, respectively after it posted negative annual growths last month at 1.3 percent and 0.9 percent, respectively.

From a flat growth, the electrical materials index picked up by 1.8 percent. Moreover, a higher annual increment of 1.2 percent was noted in painting materials and related compounds index.

Meanwhile, the annual gain in the carpentry materials index slowed down to 0.3 percent from 0.8 percent last month. Negative annual rates were still recorded in the corresponding indices of tinsmithry materials and miscellaneous construction materials at -0.9 percent and -1.2 percent, respectively.

Compared to the month-ago level, the CMRPI in the NCR went up 0.6 percent in March. From a flat growth last month, the carpentry materials index inched up by 0.1 percent; the electrical materials index, 0.7 percent; and the painting materials and related compounds index, 0.3 percent.

In addition, the indices for masonry materials rose by 1.9 percent; plumbing materials, 0.4 percent; and tinsmithry materials, 0.6 percent. On the other hand, the miscellaneous construction materials index rose by 1.1 percent

Prices of plywood, cement, hollow blocks, paints, GI pipes and corrugated GI sheets were higher during the month. Lower prices were, however, observed in common wire and finishing nails.

Slow down 

Meanwhile, the annual growth of the Construction Materials Wholesale Price Index (CMWPI) in Metro Manila slowed down to 0.2 percent in March 2016.

Last month, it went up by 0.4 percent, while in March 2015 it declined by 0.7 percent. The annual adjustments in the indices of lumber dropped by 0.2 percent; GI sheet, -2.4 percent; structural steel, -3.8 percent; tile works, -0.1 percent; painting works, -0.6 percent; PVC pipes, -1.0 percent; and fuels and lubricants, -8.1 percent. Moreover, slower annual increments were observed in the following indices: plywood, 1.6 percent; reinforcing steel, 1.5 percent; doors, jambs and steel casement, 0.1 percent; electrical works, 2.2 percent; and plumbing fixtures and accessories/waterworks, 4.3 percent.

On the other hand, faster annual rates were seen in the indices of sand and gravel at 4.1 percent; concrete products, 2.1 percent; cement, 0.6 percent; and hardware, 1.1 percent. The rest of the commodity groups posted flat growth during the month.

On a monthly basis, wholesale prices of selected construction materials in Metro Manila generally went up by 0.2 percent in March after it declined by 0.1 percent in February. Higher monthly rates were noted in the indices of sand and gravel at 2.3 percent; concrete products, 0.4 percent; cement, 0.8 percent; hardware, 0.4 percent; plywood and electrical works, 0.1 percent; plumbing fixtures and accessories, 0.2 percent; and fuels and lubricants, 2.9 percent.

However, the indices of lumber and structural steel both dropped by 0.1 percent; reinforcing steel, -1.9 percent; and tile works, -0.3 percent. The rest of the commodity groups registered flat growth.

Price increases were posted in sand, gravel, selected concrete products, cement, nails, and petroleum products. Meanwhile, prices of selected steel and flat bars were lower during the month.