Construction material prices accelerate in April

Darwin G. Amojelar
Tuesday, June 07, 2011

RETAIL prices of construction materials in Metro Manila rose in April, the National Statistics Office (NSO) said.
Data from NSO showed that the annual growth of the retail price index of selected construction materials went up to 4.7 percent in April from 2.5 percent in the same period last year.

The annual price gains in the carpentry materials index advanced to 8 percent from 7.2 percent. Similar price gains were noted in painting materials and related compounds, to 3.9 percent from 3.3 percent; plumbing materials, 5.4 percent from 3.8 percent; and tinsmithry materials, 3.1 percent from 2.5 percent.

The annual price hike in the electrical materials index was lower at 5.4 percent in April from 5.6 percent in March. Likewise prices fell for masonry materials, to 0.7 percent from 1.1 percent; and for miscellaneous construction materials, to -1.0 percent from 5.1 percent.

On a monthly basis, the NSO said the growth rate of the retail price index of selected construction materials in Metro Manila inched up to 0.5 percent in April from 0.4 percent in March.

A higher monthly price increment was noted in the electrical materials index at 0.4 percent in April from -0.2 percent in March; painting materials and related compounds, 0.8 percent from 0.7 percent; and plumbing materials, 1.8 percent from -0.6 percent.Prices of tinsmithry materials were stable as it’s group’s index posted zero growth during the month.

Slower monthly increase were, however, observed in the carpentry materials index at 0.5 percent from 1.7 percent; masonry materials, -0.2 percent from zero growth; and miscellaneous construction materials, 0.3 percent from 0.8 percent.
The NSO added that upward price adjustments were noted in selected wiring devices, paints and sanitary fixtures.

Source: http://www.manilatimes.net/business/construction-material-prices-accelerate-in-april/

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