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Construction material costs level off in July

09/20/2011 [ ]

Prices of construction materials sold wholesale in Metro Manila had eased to a 7.9 percent growth in August from an 8.7 percent increase in July, the National Statistics Office (NSO) said.

The NSO attributed the drop in prices of construction materials to the negative rate still recorded in the cement index at negative seven percent.

In addition, slower annual rates were noticed in the indexes of nine commodity groups with fuels and lubricants registering the biggest slowdown of three percentage points to 16.8 percent from 19.8 percent.

On the other hand, higher annual adjustments were posted in the indexes of painting works, tileworks, PVC pipes and electrical works.

The annual changes in the indexes of sand and gravel, glass and glass products, plumbing fixtures and accessories and waterworks and asphalt remained at their last month’s rates while that for machinery and equipment rental index was zero.

Month-on-month basis, growth rate of construction materials dropped to -0.1 percent in August from 0.3 percent in July.

It resulted from the decline observed in cement index at -1.1 percent in August from -0.7 percent in July; structural steel, -0.4 percent from 0.8 percent; and fuels and lubricants, -0.6 percent from 0.2 percent.

From zero growth, negative rates were likewise posted in the indexes of lumber and reinforcing steel at -0.4 percent and G.I. sheet and doors, jambs and steel casement at -0.1 percent.

Moreover, slower increments were correspondingly seen in the indexes of sand and gravel and electrical works at 0.7 percent and 0.2 percent from their respective last month’s rates of 1.3 percent and 0.5 percent.

Meanwhile, higher gains were noted in the indexes of painting works at 0.9 percent from 0.1 percent and PVC pipes, 0.4 percent from zero growth. The rest of the commodity groups either remained at their previous month’s rates or had a zero growth. Ayen Infante

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