Prices of construction materials remain stable

Prices of construction materials remain stable in Metro Manila, data from the Philippine Statistics Authority (PSA) show.

The PSA said that the year-on-year growth of construction materials wholesale price index (CMWPI) in the National Capital Region remained at 0.3 percent in September 2024. In September 2023, its annual growth rate was registered at 2.2 percent.

Compared with their respective annual growth rates in August 2024, annual increments were observed in the indices of reinforcing steel at 1.0 percent in September 2024 from a 1.2 percent annual decrease in August 2024 and tileworks at 0.4 percent in September 2024 from a 1.2 percent annual decrease in August 2024. Meanwhile, a slower annual drop was recorded in the index of cement at 1.9 percent in September 2024 from 2.1 percent annual decline in August 2024.

Moreover, a zero percent annual rate was noted in the index of metal products in September 2024 from a 0.3 percent annual drop in August 2024.

Compared with their respective annual growth rates in August 2024, slower annual increments were observed in the indices of the following commodity groups during the month: hardware, 0.5 percent from 0.9 percent; doors, jambs, and steel casement, 1.1 percent from 1.2 percent; electrical works, 0.9 percent from 2.9 percent; painting works, 0.5 percent from 1.2 percent; and PVC pipes, 0.9 percent from 1.4 percent.

Annual decreases were also recorded in the indices of plywood at 0.4 percent in September 2024 from 0.4 percent annual increase in August 2024, and fuels and lubricants at 0.8 percent annual drop in September 2024 from 3.5 percent annual increase in August 2024.

The indices of the rest of the commodity groups either retained their respective August 2024 annual rates or had zero percent annual increase during the month.