Construction materials

Rising wholesale prices of NCR building materials blamed on more expensive petroleum products

The increase in wholesale building material prices in Metro Manila approached the double digit mark in May due to more expensive fuels and lubricants, according to the Philippine Statistics Authority (PSA).

Based on the Wholesale Building Materials Price Index (CMWPI) in the National Capital Region (NCR) report, PSA said the index rose 8.3% in May 2022, the highest in the series.

This brought growth from January to May to 6.5%. In April 2022, the CMWPI increased by 6.9% compared to only 2% in May 2021.

“Higher double-digit annual growths were again recorded during the month in the GI sheet (galvanized iron) indices, which rose again to 13.8%; reinforcing and structural steel, 15.7%; and fuels and lubricants at 46.1%,” PSA said.

The data also showed that the price of PVC pipes also rose by double digits at 10.3%.

The other materials that showed the biggest increases were electrical work at 8.6%; plumbing/aqueduct fixtures and fittings at 7.1%; and materials, 5.2%.

Wholesale prices for asphalt and rental of machinery and equipment were zero.

The PSA said the CMWPI is a variant of the general wholesale price index that measures changes in the average wholesale prices of
Construction materials.

He added that the CMWPI is used to calculate the rising prices of building materials for various government projects.

The CMWPI based on 2012 covers 101 market basket items. The CMWPI’s consumption basket includes a selection of construction materials identified among the various lateral and vertical construction projects in 2012.

These prices were based on schedules provided by the Department of Public Works and Highways, the National Housing Authority and the Subdivision and Housing Developers Association.

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