Building materials retail price growth in Metro Manila steady in Feb.

The retail price growth of construction materials in the National Capital Region was steady in February with an acceleration in electrical materials prices offset by a slowdown in painting materials and related compounds, the Philippine Statistics Authority (PSA) reported.

Citing preliminary data, it said year-on-year growth in the construction materials retail price index (CMRPI) for Metro Manila remained at 1.2% in February, in line with the average in the year to date.

The February reading exceeded the 1.1% year-earlier level.

Compared to January readings, growth accelerated in the subindices of electrical materials (2.1% in February from 1.9% a month earlier), masonry materials (1.1% from 1%), plumbing materials (0.8% from 0.7%), and miscellaneous construction materials (1.1% from 0.9%).

Meanwhile, the PSA said slower price growth compared to a year earlier was noted in the indices for painting materials and related compounds (1.8% from 2.1%) and tinsmithry materials (1.9% from 2%).

The CMRPI is based on 2012 constant prices.

Source: Business World

Construction materials price growth slows in July

The retail price growth of construction materials in the National Capital Region (NCR) slowed down in July compared to last year's rate, according to the Philippine Statistics Authority (PSA).

In its latest report, the PSA said that the average growth of the construction materials retail price index (CMRPI) in the NCR slowed down to 1.1 percent last month from 1.5 percent in July 2023.

On a monthly basis, it moved up from February's 1.0-percent growth rate.

The PSA said that the primary contributor to the monthly uptrend of the CMRPI in the region was the higher annual increase in the heavily weighted tinsmithing materials index at 1.6 percent from 1.2 percent in the previous month.

In addition, two commodity groups registered annual increases in July as compared with the previous month.

Carpentry materials posted a 0.6-percent growth last month from the 0.2 percent in June and electrical materials at 1.6 percent from 1.4 percent in a month earlier.

Commodity groups that retained their previous month's annual rates include painting materials and related compounds, 1.4 percent; plumbing materials, 0.2 percent; miscellaneous construction materials, 2.1 percent; and masonry materials, 0.2 percent.

On the other hand, the year-on-year growth rate of the construction materials wholesale price index in the NCR inched up to 0.5 percent in July from 0.4 percent a month earlier.

However, this was slower from last year's annual rate registered at 5.7 percent.

During the month, increases in annual growth rates compared to June 2024 were posted in some commodities. Electrical works rose faster at 3.2 percent from 1.5 percent in the previous month.

Faster annual increases were also recorded in the indices of metal products at 1.1 percent from 0.9 percent and plumbing fixtures, and accessories/waterworks at 1.0 percent from 0.9 percent.

Slower annual increases, meanwhile, were observed in the indices of fuels and lubricants to 12.9 percent in July from 14.1 percent in the previous month; PVC pipes to 1.3 percent from 1.4 percent; and painting works to 1.3 percent from 1.7 percent.

Source: Manila Times

NCR construction material retail price growth quickens in April

Retail Price growth of construction materials in the National Capital Region (NCR) accelerated to three-month high in April, the Philippine Statistics Authority (PSA) reported on Friday.

According to preliminary data from the PSA, the construction materials retail price index (CMRPI) in April grew by 1.2%. This was twice faster than the 0.6% growth in March but slower than 2.6% last year.

April CMRPI growth was the quickest or since the 1.4% in January.

NCR’s CMRPI averaged 1.1% for the first four months of the year, lower than the 4.4% average last year.

Security Bank Corp. Chief Economist Robert Dan J. Roces said in a Viber message that the faster growth of retail prices of building materials may have been due to building inflationary pressure in the construction sector.

“Although the growth rate is slower than the previous year, the price increase could indicate improving demand and easing supply chain disruptions as the economy recovers gradually,” Mr. Roces added.

Meanwhile, the PSA attributed the quicker CMRPI growth rate to the faster miscellaneous construction materials index with 0.8% growth, a turnaround from the 1.5% contraction in March.

This was followed by plumbing materials (0.3% from -0.2%); tinsmithry materials (2.6% from 2.4%); painting materials and related compounds (2.2% from 2%); and carpentry materials (0.3% from 0.2%).

Of the seven commodity groups, only masonry materials declined to 0.3% in April from the 0.2% contraction in March, while electrical materials steadied at 0.9%.

Source: Business World