Metro construction material prices up in April

Wholesale and retail prices of construction materials in Metro Manila rose at a significantly faster pace in April as significant upticks were seen in the prices of key building materials, the Philippine Statistics Authority (PSA) said.

The construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) grew at a faster pace of 7.5 percent in April 2018 from 6.7 percent in March 2018 and 3.5 percent in April 2017.

PSA attributed this to the 25.7 percent growth in the fuels and lubricants index as well as the faster annual gains in hardware, plywood, lumber, reinforcing steel, doors, jambs, and steel casement, electrical works, and painting works.

Downward movement, on the other hand, was seen in the cement index as its annual adjustment declined 0.6 percent. Other commodity groups either retained previous month’s growth rate or had zero growth.