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Philippines: Retail prices of building materials stable in June
MANILA, Philippines — Retail prices of construction materials in the capital region did not budge in June, the Philippine Statistics Authority (PSA) said.
The Construction Materials Retail Price Index (CMRPI) in the National Capital Region stayed at 1.2 percent, the same level in May and in June last year.
The unchanged index indicated the stable return but still subdued demand for construction activities during the month, especially as COVID-19 cases in Metro Manila remained a problem.
Annual increment was only faster in the index of painting materials and related compounds at 1.1 percent.
Masonry and plumbing materials, on the other hand, went down to 1.1 percent and 0.6 percent, respectively.
The indexes of carpentry, electrical, tinsmithry and miscellaneous construction materials all retained their previous month’s rate at 1.5 percent, 0.8 percent, 1.8 percent, and 1.5 percent respectively.
The CMRPI is a variant of the General Retail Price Index (GRPI) that measures the changes in the average retail prices of construction materials. It uses 2012 as the base year.
It covers 102 building materials classified into seven commodity groups. Prices for the CMRPI are collected through personal interviews or actual price quotations from selected sample outlets in NCR.
Collection of prices is done during the first to third week of the reference month.
Source: https://www.philstar.com/business/2021/07/29/2115900/retail-prices-building-materials-stable-june