Saturday, March 21, 2009 [ manilatimes.net ]
PRICES of construction materials in Metro Manila rose sharply in February, the National Statistics Office said.
The agency said the construction materials wholesale price index grew 22.6 percent year-on-year in February from only 4.7 percent in the same month in 2008. However, the growth was slower compared with 23.4 percent in January this year.
Higher prices were noted in asphalt from zero growth last year to 42 percent; reinforcing steel, 9.9 percent to 59.3 percent; structural steel, 7.9 percent to 34.8 percent; hardware, 4.3 percent to 29.8 percent; and metal pipes, 3.8 percent to 17.2 percent.
An annual price decline was still noted in fuels and lubricants at -3.5 percent from -4.8 percent, while slower growth was seen in the prices of plywood, 3.5 percent from 5.6 percent; PVC, 11.1 percent from 13.2 percent; and aluminum, 19.1 percent from 23.5 percent.
On a monthly basis, prices of construction materials in Metro Manila contracted 0.6 percent in February from zero growth in January as reductions were observed in the following commodity groups: plywood contracted 2.1 percent from a 1.2-percent growth; fuels and lubricants, -3.0 percent from -8.7 percent; hardware, -0.5 percent from 2.3 percent; metal pipes, -0.1 percent from zero growth; reinforcing steel, -2.9 percent from -1.9 percent; and structural steel, -2.4 percent from -1.6 percent.
Slower price increases were also noticed in lumber, concrete products, paints and exterior electrical equipment or supplies. Meanwhile, price increases were registered in sand, stone and gravel, cement, wood products, glass and glass products, plumbing fixtures and tileworks.
Prices for the rest of the commodity groups generally remained stable as they recorded zero growth in February.--Darwin G. Amojelar
