Saturday, February 21, 2009 [ manilatimes.net ]
By Darwin G. Amojelar, Reporter
PRICES of construction materials in Metro Manila rose dramatically in January, according to the National Statistics Office (NSO).
The NSO said construction materials wholesale price index in the National Capital Region went up 23.4 percent in January from 4.3 percent in the same period last year. In December, inflation for construction materials stood at 20 percent.
The agency blamed this on the general upward annual adjustments in the prices of all the commodity groups.
Higher prices were observed in asphalt at 42.2 percent; structural steel, 38.1 percent; aluminum products, 23.5 percent; metal pipes, 17.4 percent; polyvinyl chloride pipes (PVC), 13.2 percent; and cement, 10.4 percent.
Slower price increments however were noted in sand, stone and gravel and asphalt at 9.5 percent and 42 percent, respectively, while prices of fuels and lubricants contracted by 4.8 percent.
On a monthly basis, prices of construction materials recorded zero growth in January from a 0.4 percent contraction in December as prices of glass and glass products, metal pipes, PVC pipes, plumbing fixtures, aluminum and other metal products, blasting materials, machinery and equipment rental, as well as UPVC water pipes remained stable during the month.
From zero growth, price contractions were noted in commodity groups like sand, stone and gravel, -0.7 percent; asphalt, -1.7 percent; reinforcing steel, -1.9 percent; and structural steel, -1.6 percent.
A price decline was also seen in fuels and lubricants at -8.7 percent from -14.8 percent. Price gains for the rest of the commodity groups were higher during the month.