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Prices of construction materials up in March

By Czeriza Valencia (The Philippine Star) Updated April 22, 2012 12:00 AM

MANILA, Philippines - Prices of construction materials in the National Capital Region (NCR) grew at a faster rate in March from February because of increases in the prices of electrical, masonry, painting, plumbing and miscellaneous materials, the National Statistics Office (NSO) reported.

The Retail Price Index of selected construction materials in the NCR rose to 170.6 in March from 165.5 in the same period last year. This translates to a faster annual growth rate of 3.1 percent in March from 2.9 percent in February.

The electrical materials index grew by 2.5 percent in March from one percent in February; masonry materials, 1.2 percent from 0.7 percent; painting materials and related compounds, 4.4 percent from 4.3 percent; plumbing materials, 3.3 percent from 2.1 percent and miscellaneous construction materials, 14.6 percent from 13.7 percent.

Slower annual growth, however, was recorded in the index of carpentry materials at 2.3 percent in March from 3.9 percent in February. The tinsmithry index registered lower negative growth of -2.4 percent in March from -1.7 percent in February.

On a month-on-month basis, prices grew at a faster rate of 0.6 percent in March from 0.4 percent in February. 

The monthly gain in electrical materials index increased to 1.3 percent in March from 0.7 percent in February; masonry and plumbing materials, 0.6 percent from corresponding previous month’s growth rates of 0.2 percent and zero; and painting materials and related compounds, 0.8 percent from -0.1 percent.

The carpentry materials index grew at a slower at 0.1 percent from 0.3 percent month-on-month.

The growth in miscellaneous construction materials index remained at 1.6 percent while that the tinsmithry materials index further dropped to -1.0 percent from -0.4 percent month-on-month.

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