Construction material prices up in Sept.

PRICES of construction materials in Metro Manila rose for the second consecutive month in September, hurting government and households who will undertake rehabilitation following the damage caused by typhoons Ondoy and Pepeng. The National Statistics Office (NSO) said the retail prices of selected construction materials in Metro Manila went up at a slower pace of 0.3 percent in September from 0.4 in August.

The agency said the price increments in tinsmithry and miscellaneous construction materials index were higher at 0.4 percent and 2.8 percent, respectively from their corresponding rates of zero growth and 0.1 percent the month before.

“Prices of painting materials and related compounds generally remained stable as the group index posted a zero growth,” the NSO said.

In addition, upward adjustments were observed in the prices of steel bars, machine bolts and nuts, GI rivets and washers.
Price reductions were seen in tanguile, plywood, plastic water closet fitting and GI pipes.

The NSO said prices of carpentry materials contracted 0.7 percent in September from 0.3 percent in August.

Price increases in electrical materials and masonry materials index eased to 0.9 percent and 0.2 percent, from the previous 2.0 percent and 0.3 percent, respectively.

Year-on-year, the retail prices of selected construction materials in the National Capital Region (NCR) fell 7.5 percent in September from 23.2 percent in the same period last year.

The NSO said the miscellaneous construction materials index moved at an annual rate of -34.6 percent from -42.7 percent previously.

It added that the annual price gains in electrical and tinsmithry materials index were, however, correspondingly higher at 3.3 percent and 1.9 percent from the previous 3.1 percent and 1.7 percent, respectively. –Darwin G. Amojelar, Senior Reporter, Manila Times