Wednesday, November 26, 2008 [ manilatimes.net ]
PRICES of construction materials in Metro Manila dropped for the first time last month, as oil prices continued to decline, the National Statistics Office (NSO) said Tuesday.
The NSO said the construction materials wholesale price index fell 21.6 percent in October from 23.5 percent in September.
The agency said slower annual gains were noted in the prices of cement, lumber, plywood, fuels and lubricants, paints, reinforcing steel and structural steel.
Annual increments were higher in the prices of hardware, PVC pipes, G.I. sheets, exterior electrical equipment/supplies, interior electrical fixtures and devices, electrical rough-in materials and uPVC water pipes.
On a month on month basis, prices of construction materials contracted 1.4 percent in October from the 1.5-percent rise in September.
“The continuous downward adjustments in the corresponding prices of plywood and fuels and lubricants at -1.1 percent and -5.9 percent brought about the downtrend,” the NSO said.
Price reductions were also observed in cement at -0.2 percent from 3 percent a month before; lumber, -0.5 percent from 2.6 percent; paints, -0.1 percent from 0.8 percent; reinforcing steel, -3.2 percent from 2.1 percent and structural steel, -2.8 percent from 2.9 percent.
Price increments were higher in PVC pipes, exterior electrical equipment/supplies, interior electrical fixtures and devices, electrical rough-in materials and uPVC water pipes.-- Darwin G. Amojelar
