PRICE GROWTH of construction materials in the National Capital Region (NCR) accelerated at retail and wholesale levels in July, the Philippine Statistics Authority (PSA) said on Tuesday.
Citing preliminary data, the PSA said the July construction materials retail price index (CMRPI) was 1.1%, picking up from 1% in June but easing from the 1.5% posted a year earlier.
The July reading was the highest since the 1.2% posted in April.
In the first seven months, the CMRPI averaged 1%, easing from the 3.3% posted a year earlier.
The PSA attributed the uptick in the CMRPI to price growth in tinsmithry materials, which came in at 1.6% in July against 1.2% a month earlier.
Stronger price growth was seen in carpentry materials (0.6% from 0.2%) and electrical materials (1.6% from 1.4%).
Meanwhile, price growth in July was steady in painting materials and related compounds (1.4%), plumbing materials (0.2%) and miscellaneous construction materials (2.1%). Masonry materials price growth also held at -0.2%.
The CMRPI is based on 2012 constant prices.
In a separate report, the PSA said wholesale price growth in construction materials in Metro Manila also accelerated in July.
At constant 2018 prices, the construction materials wholesale price index (CMWPI) in the NCR grew 0.5% year on year in July, against the 0.4% growth posted in June and the 5.7% growth in July 2023.
The July reading is the highest since the 0.6% reported in May.
This brought the CMWPI to a 0.8% average in the seven months to July, against a 7.3% reading a year earlier.
Of the 20 categories, only three commodity groups posted stronger price growth.
The PSA said the CMWPI was driven by stronger price growth in electrical works (3.2% from 1.5% in June).
Other categories where price growth accelerated were metal products (1.1% from 0.9%) and plumbing fixtures & accessories/waterworks (1.0% from 0.9%).
Slower growth was seen in concrete products (0.1% from 0.2%), G.I. sheets (0.4% from 1.5%), structural steel (0.7% from 0.9%), painting works (1.3% from 1.7%), PVC pipes (1.3% from 1.4%) and fuels and lubricants (12.9% from 14.1%).
The rest of the categories posted steady price growth or outright declines. — Lourdes O. Pilar
