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Philippines: Prices of building materials up in June — PSA
MANILA, Philippines — Wholesale prices of building materials continued to rise in June as faster markups were seen in most construction materials, the Philippine Statistics Authority (PSA) said.
The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR), which is used as a reference in the costing of government projects, grew at a faster pace of 3.2 percent in June from three percent in May.
Uptick in the index started in May after four months of deceleration.
Faster annual growth in the following commodity groups were registered in June: concrete products and cement; hardware; galvanized iron sheets; tileworks; plumbing fixtures and accessories; painting works; and PVC pipes.
Slower annual increases, meanwhile, were registered in the indices of the following commodity groups, sand and gravel, plywood, lumber and electrical works.
Prices decreases, meanwhile, were seen for reinforcing steel; doors, jambs, and steel casement; as well as fuels and lubricants.
Month-on-month growth in the CMWPI remained at 0.3 percent in June from May as faster upticks in several commodity groups were offset by declines in others.
The CMWPI covers 17 commodity groups comprising 101 materials identified from the bills of materials of government infrastructure agencies.
The PSA monitors prices of selected construction materials from the first week to third week of the reference month.
Data are collected from the sample outlets chosen based on popularity of an establishment along the line of goods to be priced as well as the consistency, completeness of stock, permanence of the outlet and accessibility of location.
Source: https://www.philstar.com/business/2019/07/11/1933646/prices-building-materials-june-psa#MqmAdpxmA2tfKyci.99