RETAIL prices of construction materials in Metro Manila rose sharply in September, according to the National Statistics Office (NSO).
Data from NSO showed that retail prices rose to 4.6 percent in September from 2.6 percent in the same month last year. In August, prices of construction materials accelerated by 4.4 percent.
The NSO said a higher annual gain was registered in the masonry materials index at 1.1 percent in September from -1.1 percent in August; painting materials and related compounds, up 5.8 percent from 5.2 percent; and miscellaneous construction materials, up 5.1 percent from 1.9 percent.
A slower annual rate was seen in the carpentry materials index at 6.4 percent from 7.1 percent; electrical materials, to 4.4 percent from 4.8 percent; plumbing materials, to 4.2 percent from 4.5 percent; and tinsmithry materials, to 2.0 percent from 2.9 percent.
Month-on-month, the retail price index of selected construction materials increased to 0.7 percent in September from 0.1 percent in August.
The monthly increment in masonry materials index was higher at 2.1 percent in September from 0.3 percent in August; painting materials and related compounds, 0.8 percent from 0.1 percent; plumbing materials, 0.2 percent from -0.4 percent; tinsmithry materials, 1.6 percent from zero growth; and miscellaneous construction materials, 3.4 percent from -0.1 percent.
The same rate of -0.1 percent was observed in the electrical materials index while a zero growth was recorded in the carpentry materials index.
Price hikes were noted in tiles, paints and related compounds, sand paper and selected sanitary plumbing, heating and lighting fixtures and fittings. “Upward price adjustments were also posted in selected tinsmithry materials and steel bars,” NSO said.
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 155
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