Prices of building materials rise anew in September

Wholesale prices of building materials in the National Capital Region (NCR) sustained growth in September as an uptick was seen in the heavily weighted index for concrete and cement, the Philippine Statistics Authority (PSA) reported.

Growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR), which is used as a reference in the costing of government projects, accelerated to 3.8 percent last month from 3.5 percent in August.

This brought the year-todate average to 3.4 percent in September.

A two percent uptick was seen in the index of concrete products and cement, which accounted for 28.38 percent of the index.

The index of painting works also grew by 0.2 percent after it registered a 0.2 percent decline a month ago.

Declines, meanwhile, were posted in the indices of sand and gravel at 0.3 percent as well as fuels and lubricants at 0.1 percent.

The CMWPI covers 16 commodity groups comprising around 100 materials identified from the bills of materials of government infrastructure agencies.

The PSA monitors prices of selected construction materials from the first week to third week of the reference month.

Data are collected from the sample outlets chosen based on popularity of an establishment along the line of goods to be priced as well as the consistency, completeness of stock, permanence of the outlet, and accessibility of location.