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Metro Manila construction material prices decline

Saturday, May 23, 2009 [ ]

RETAIL prices of construction materials in Metro Manila fell sharply in March compared with the same period last year, the National Statistics Office said.

The agency said retail price index of selected construction materials in the National Capital Region (NCR) dropped to 3.1 percent in March from 5.5 percent in the same period last year.

In February, prices of construction materials were higher at 5.1 percent.

The NSO said slower annual growth rates were recorded in masonry materials index, which stood at 7.8 percent in March, down from 8.5 percent in February. Painting materials and related compounds slid to 6.6 percent from 6.7 percent while plumbing materials dropped to 3 percent from 3.6 percent.

Miscellaneous construction materials contracted faster at -12.5 percent in March from -0.7 percent the previous month.

On a monthly basis, retail price of construction materials in NCR inched up by 0.6 percent in March from -0.3 percent in February.

The statistics agency said higher growth rates were noted in carpentry materials index at 2 percent in March from -0.4 percent in February; electrical materials, 1 percent from -0.3 percent; and painting materials and related compounds 0.2 percent from -0.2 percent.

On the other hand, lower monthly growth rates were seen in the indexes of masonry materials and tin smithery materials at 0.2 percent from their respective previous month’s rates of 0.4 percent and 1.5 percent and plumbing materials, -0.4 percent from 0.4 percent.

“The miscellaneous construction materials group still recorded negative growth rate,” the NSO said, but it added that upward price adjustments were noted in selected lumber, plywood, electrical wires and painting related compounds.

-- Darwin G. Amojelar


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