Philippines: building materials costly

Philippines: building materials costly
Published: 21 May 2010

Prices of select construction materials in the National Capital Region, or Metro Manila, increased at a faster rate last month than in March, the National Statistics Office reported earlier this week. Specifically, the annual growth rate of the retail prices of these materials rose to 2.5 per cent in April from 1.4 per cent in March. Month on month, the retail price index of these materials rose to 0.6 per cent in April from no growth in March.

Higher annual price increments were recorded in electrical materials, masonry materials, painting materials and related compounds, as well as plumbing materials. Prices of carpentry materials continued to decline, while annual upward price adjustment in tinsmithry materials slowed. In terms of wholesale prices, year-on-year growth rate rose to 2.2 per cent in April from a slight 0.1 per cent dip in March, while month-on-month growth rate went up to 2.1 per cent from 0.2 per cent in the same comparative months.

The YoY increases in wholesale prices were led by sand, stone and gravel; cement; lumber; plywood; asphalt; hardware; PVC pipes; plumbing fixtures; reinforcing steel; structural steel; exterior electrical equipment/supplies; and tile works.