The retail price growth of construction materials in the National Capital Region (NCR) slowed down in July compared to last year's rate, according to the Philippine Statistics Authority (PSA).
In its latest report, the PSA said that the average growth of the construction materials retail price index (CMRPI) in the NCR slowed down to 1.1 percent last month from 1.5 percent in July 2023.
On a monthly basis, it moved up from February's 1.0-percent growth rate.
The PSA said that the primary contributor to the monthly uptrend of the CMRPI in the region was the higher annual increase in the heavily weighted tinsmithing materials index at 1.6 percent from 1.2 percent in the previous month.
In addition, two commodity groups registered annual increases in July as compared with the previous month.
Carpentry materials posted a 0.6-percent growth last month from the 0.2 percent in June and electrical materials at 1.6 percent from 1.4 percent in a month earlier.
Commodity groups that retained their previous month's annual rates include painting materials and related compounds, 1.4 percent; plumbing materials, 0.2 percent; miscellaneous construction materials, 2.1 percent; and masonry materials, 0.2 percent.
On the other hand, the year-on-year growth rate of the construction materials wholesale price index in the NCR inched up to 0.5 percent in July from 0.4 percent a month earlier.
However, this was slower from last year's annual rate registered at 5.7 percent.
During the month, increases in annual growth rates compared to June 2024 were posted in some commodities. Electrical works rose faster at 3.2 percent from 1.5 percent in the previous month.
Faster annual increases were also recorded in the indices of metal products at 1.1 percent from 0.9 percent and plumbing fixtures, and accessories/waterworks at 1.0 percent from 0.9 percent.
Slower annual increases, meanwhile, were observed in the indices of fuels and lubricants to 12.9 percent in July from 14.1 percent in the previous month; PVC pipes to 1.3 percent from 1.4 percent; and painting works to 1.3 percent from 1.7 percent.
Source: Manila Times
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