Saturday, August 22, 2009 [ manilatimes.net ]
By Darwin G. Amojelar, Senior Reporter
PRICES of construction materials in Metro Manila continued to drop in July compared to last year, the National Statistics Office (NSO) said.
The agency said the construction materials wholesale price index (CMWPI) in the National Capital Region (NRC) dropped to -1.4 percent in July from the 21.2-percent hike in the same period last year. NSO said the annual price contraction was seen in sand, stone and gravel, which dropped -0.2 percent from 2.3 percent; plywood by -2.7 percent from 1.1 percent; fuels and lubricants by -32.0 percent from -25.1 percent; reinforcing steel by -8.5 percent from 9 percent; and structural steel -7.9 percent from -4.2 percent.
In addition, slower annual price adjustments were seen in most of the commodity groups.
NSO, however, said prices of interior electrical fixtures and devices and UPVC water pipes rose year-on-year.
”The other commodity groups retained their last month’s annual growth rates while the indexes for blasting materials and machinery and equipment rental continued to register a zero growth during the month,” its said.
On a monthly basis, prices in the metropolis did not move in July compared with the 0.2-percent increase in June.
The NSO said prices of lumber, plywood, wood products, asphalt, glass and glass products, plumbing fixtures, paints, reinforcing and structural steel, aluminum and other metal products, exterior electrical equipment/supplies, tileworks, blasting materials, machinery and equipment rental and electrical rough-in materials remained stable during the month.
It added that fuels and lubricant prices declined by -0.9 percent from 10.9 percent.
From zero growth, prices of sand, stone and gravel and concrete products went up 0.2 percent; PVC pipes by 0.6 percent; interior electrical fixtures and devices by 0.3 percent; and UPVC pipes by 1.4 percent.
Higher price increment was also observed in metal pipes at 1.5 percent from -0.2 percent while a slower growth rate was recorded in hardware at 0.1 percent from 0.6 percent.