|
THE
unabated increase in oil prices has pushed up the
wholesale prices of construction materials in the
National Capital Region (NCR) in May, according to the
latest data released by the National Statistics Office (NSO).
The Construction Materials Wholesale
Price Index (CMWPI) in the NCR posted an annual growth
rate of 9 percent in May from the 7.1-percent growth it
posted in the same period last year.
However, on a monthly basis, while the
CMWPI posted a 1.8-percent increase, this was still
slower than the 2.5 percent posted in April.
The NSO said the high year-on-year
growth in the CMWPI was due to the higher prices of
fuels and lubricants which increased by 28.5 percent;
reinforcing steel, 21.9 percent; structural steel, 15.8
percent; UPVC water pipes, 12.7 percent; and hardware,
10.3 percent.
However, the NSO noted annual price
reductions in machinery and equipment rental at -4.8
percent due to the movement of the peso in the exchange
rate against the US dollar.
”Movements in the rest of the commodity
groups were at their previous month’s rates while zero
growth was posted in plywood, aluminum and other metal
products and blasting materials,” the NSO said in a
statement.
Month-on-month, on the other hand, the
increase in the CMWPI was due to the upward movement in
the prices of metal pipes and structural steel.
Still, the NSO said, the increase in the
prices of metal pipes and structural steel decelerated
to 1.9 percent and 1.6 percent from 4.1 percent and 7.2
percent, respectively.
Further, the month-on-month increase was
also due to the upward trend seen in the prices of fuels
and lubricants, which posted a 6.7-percent increase;
hardware, 3.2 percent; concrete products, 0.7 percent;
and reinforcing steel 5.8 percent. The NSO said higher
rates were posted in the prices of fuels and lubricants,
rising to 6.7 percent; hardware, 3.2 percent; concrete
products, 0.7 percent; and reinforcing steel, 5.8
percent.
“Prices for the rest of the commodity
groups generally remained stable as they recorded zero
growth during the month,” the NSO said. |
