Prices of construction materials in NCR remain flat in May- NSO

Prices of construction materials in the National Capital Region remained unchanged in May, the National Statistics Office reported on Wednesday. In a report posted at its website, the NSO said the monthly growth rate of Construction Materials Wholesale Price Index (CMWPI) in the NCR was recorded at 0.1 percent, lower than the 1.9 percent registered in April. The NSO said the slower growth was owing to "the declines in the corresponding indexes of cement and fuels and lubricants. Moreover, slower rates were observed in the indexes of sand and gravel; concrete products; hardware; plywood; reinforcing steel; doors, jambs and steel; casement; electrical works; and plumbing fixtures and accessories/waterworks." Meanwhile construction materials that posted faster increase rates were PVC pipes, asphalt, structural steel and painting works. On an annual basis, meanwhile, the NSO noted that the wholesale prices of construction materials rose 7.8 percent in May. "It resulted from a drop in cement index at -2.2 percent from 1.7 percent. Likewise, slowdowns were recorded in the indexes of the following commodity groups: concrete products, 6.8 percent from 7.2 percent; lumber, 10.3 from 13.5 percent; G.I. sheet, 2.4 percent from 3.9 percent; reinforcing steel, 7.2 percent; and fuels and lubricants, 16.6 percent from 18.4 percent," the NSO added. Meanwhile, higher annual additions were registered in the indexes of sand and gravel; hardware; plywood; structural steel; tileworks; electrical works; plumbing fixtures and accessories/waterworks; painting works; PVC pipes; and asphalt. -- CMA/OMG, GMA News