Prices of construction materials steady in November
Czeriza Valencia (The Philippine Star) – December 15, 2020 – 12:00am
MANILA, Philippines — Wholesale prices of building materials in Metro Manila registered a flat growth in November, the Philippine Statistics Authority (PSA) reported yesterday.
The Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR), used as a reference in the costing of government projects, grew by 0.8 percent in November, the same rate as in October and was still slower than the pre-pandemic growth rate of 1.4 percent in November 2019.
This brought the year-to-date average growth in the CMWPI to 1.3 percent.
Compared with their annual rates in October, annual increases were faster in the indexes of the following commodity groups in November: hardware, lumber, tileworks, and painting works.
Annual growths, meanwhile, were slower in the indices of sand and gravel, as well as electrical works.
Declines on an annual basis continued to be seen in the indexes of plywood, reinforcing and structural steel, plumbing fixtures and accessories, as well as fuels and lubricants.
Other commodity groups retrained the previous month’s annual growth rates.
The 2012-based CMWPI covers 17 commodity groups comprising around 100 building materials.
The CMWPI market basket includes selected construction materials identified from the bills of materials provided by the Department of Public Works and Highways (DPWH), National Housing Authority (NHA) and Subdivision and Housing Developers Association (SHDA).