October 27, 2021 | 00:00
MANILA, Philippines – Retail and wholesale prices of building materials in Metro Manila jumped in September as business activities resumed with the easing of quarantine measures in the capital, the Philippine Authority said. statistics (PSA).
The Retail Building Materials Price Index (RCPI) in the National Capital Region fell to 2% from 1.6% in August.
Similarly, the latest Construction Materials Wholesale Price Index (CMWPI), which is used as a benchmark in costing government projects, rose at a faster rate of 4.6% from 4.3 % a month ago.
The faster rise in both indexes is the result of the continued return of construction demand, especially as quarantine measures in the capital were eased during the period.
Last month, the government piloted the Alert Level system in Metro Manila and imposed granular lockdowns in high-risk areas instead of a capital-wide mobility curb.
This allowed more business activities to resume operations.
For the CMRPI, the annual increase was faster in the seven indexes led by tinsmithing materials at 3.1%. It was followed by miscellaneous building materials at 2.5%.
Increases were also recorded in carpentry, electrical, masonry, paint and related compounds, and plumbing materials.
For the CMWPI, the fuels and lubricants index recorded the largest increase at 22.3%, registering a four-month high.
Faster increases were also observed in the indices of the following product groups: reinforcing and structural steel, plywood, galvanized sheet iron, PVC pipes, and concrete and cement products.
In contrast, declines were recorded in sand and gravel, hardware, plumbing fixtures and fittings, steel doors, jambs and frames, electrical work and paint work.
Stable growth product groups include glass products, asphalt, equipment rental, lumber and tiling work.
The CMRPI is a variant of the general retail price index (GRPI) which measures the evolution of the average retail prices of building materials. It uses 2012 as the base year.
It covers 102 construction materials classified into seven product groups. CMRPI prices are collected through personal interviews or actual price quotes from selected outlets in the NCR.
Prices are collected from the first to the third week of the reference month.
In contrast, the CMWPI based on 2012 covers 101 items.
The consumer basket includes a selection of building materials identified from schedules provided by the Department of Public Works and Highways, the National Housing Authority and the Subdivision and Housing Developers Association.