NCR wholesale building materials price growth flat at 1.7% in Dec.
WHOLESALE price growth of construction materials in the National Capital Region (NCR) was flat at 1.7% in December, the Philippine Statistics Authority (PSA) said on Wednesday.
Citing preliminary data, the PSA said the December construction materials wholesale price index (CMWPI) reading was much weaker than the year-earlier rate of 10.3%.
The 1.7% rise has been unchanged since October.
In 2023, CMWPI averaged 5.3%, down from 2022’s 8.3%.
Of the 17 categories of commodity, only six posted increased price growth: sand and gravel, 1.3% from 1.2%; hardware, 4.6% from 4.5%; lumber, 1.2% from 1.1%; doors, jambs, and steel casements, 2.1% from 2%; tileworks, 0.1% from -0.1%, and fuels and lubricants, 0.5% from -3.6%.
Slower price growth was seen in electrical works (4.5% from 4.8%), painting works (4.5% from 5.4%), plywood (3.4% from 3.5%), G.I. Sheets (3% from 3.4%), plumbing fixtures and accessories/waterworks (2.3% from 2.5%), and concrete products and cement (1.8% from 1.9%). — Lourdes O. Pilar