Prices of construction materials stable in August

Prices of construction materials in Metro Manila remained stable in August, according to the Philippine Statistics Authority.

The annual rate of construction materials retail price index in the National Capital Region retained its previous month’s year-on-year growth rate at 1.1 percent in August 2024. In August 2023, the annual increment of CMRPI was posted at 1.4 percent.

Relative to their July 2024 annual rates, higher annual increases were noted in the indices of electrical materials, 1.8 percent from 1.6 percent; painting materials and related compounds 1.9 percent from 1.4 percent; and Tinsmithry materials, 1.7 percent from 1.6 percent.

Meanwhile, slower annual decline was observed in the index of masonry materials at 0.1 percent annual drop in August 2024 from 0.2 percent annual decrease in the previous month.

Slower annual increase was recorded in the index of miscellaneous construction materials at 1.3 percent during the month from 2.1 percent in July 2024.

Meanwhile, the indices of carpentry materials, and plumbing materials retained their previous month’s annual rates of 0.6 percent and 0.2 percent, respectively.