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Construction material prices decrease

Published on 14 July 2012 [ ]
Written by Mayvelin U. Caraballo

Prices of wholesale construction materials in Metro Manila continued to decelerate at a slower rate in June compared from the previous month.

Data from the National Statistics Office (NSO) showed on Friday that prices of wholesale construction materials went down to 2.4 percent in June from 3.6 percent in May.

The NSO attributed the annual decrease to the drop in the fuels and lubricants index to -1.9 percent from 3.6 percent.

In addition, slower annual increments were seen in the indices of nine commodity groups such as sand and gravel, 9 percent; concrete products, 2.7 percent; hardware, 2.5 percent; plywood, 4 percent; reinforcing steel, 3 percent; structural steel, 5 percent; tileworks, 4.1 percent; doors, jambs, and steel casement, 3.7 percent; and asphalt, 3.1 percent.

Meanwhile, annual upticks were higher in the indices of cement; glass and glass products; electrical works; plumbing fixtures and accessories/waterworks; and painting works.

“Those for the rest of the commodity groups remained at their last month’s annual rates while that for machinery and equipment was still zero,” the statistics agency said.

On a month-on-month basis, NSO further said that prices of construction materials further dropped to -0.8 percent in June from -0.3 percent in May.

The index for fuels and lubricants declined by -6.4 percent from -3.2 percent, while doors, jambs and steel casement index went down to -0.1 percent from zero growth.

A slowdown was also noted in the monthly uptick of reinforcing steel index at 0.4 percent from 0.7 percent; glass and glass products index at 0.1 percent from 0.2 percent; and electrical works index at 0.3 percent from 0.5 percent. NSO noted that from zero growth, higher monthly gains were observed in the indices of cement, plumbing fixtures and accessories/waterworks and painting works. The other commodity groups posted zero growth in June.

The statistics agency explained that the downward trend in the Construction Materials Wholesale Price Index was from the series of price rollbacks in gasoline and diesel oil, along with the lower prices of some PVC doors.
On the other hand, prices of cement and paints were higher during the month.

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