Prices of construction materials in the National Capital Region continue to slow down for the month of September.
Based on data released by the Philippine Statiatics Authority (PSA), the annual increase of Construction Materials Wholesale Price Index (CMWPI) in NCR slowed down further to 0.5 percent in September 2020
Compared to its annual rate in August 2020 which was recorded at 1.0 percent and in September 2019, 3.8 percent.
The indicator of the following commodity groups continued to register annual declines during the month:
• Plywood; and plumbing fixtures and accessories/waterworks, both at -0.6 percent
• Reinforcing and structural steel, -2.5 percent; and
• Fuel and lubricants, -9.1 percent.
In addition, annual rates moved up at slower pace in the indices of concrete products and cement at 1.2 percent, and painting works at 0.6 percent.
However, PSA data showed that higher annual gain of 1.5 percent was observed in the index of sand and gravel during the month.
The CMWPI covers 101 items in the market basket.
The CMWPI market basket includes selected construction materials identified from the different lateral and vertical construction projects in 2012 with accompanying bills of materials provided by the Department of Public Works and Highways (DPWH), National Housing Authority (NHA) and Subdivision and Housing Developers Association (SHDA). Items with high cost of the submitted bills of materials were included under each commodity group.