Wholesale prices of construction materials in the National Capital Region (NCR) fell for the fourth consecutive month in March due to low fuel cost, according to the Philippine Statistics Authority (PSA).
PSA data showed the Construction Materials Wholesale Price Index (CMWPI) in NCR posted a negative rate of 1.2 percent in March from a growth of 2.4 percent in March 2014.
The CMWPI has been posting contractions since December 2014. In February it posted a contraction of 1.4 percent.
“The decrease was brought about by the decline in the annual rate of fuels and lubricants index at -21.5 percent,” the PSA said.
Data also showed that contributing to the downtrend were slower annual gains in the indices of sand and gravel, 2.5 percent; G.I. sheet, 1 percent; and reinforcing steel, 1.2 percent.
Other construction materials that contributed to the slowdown include structural steel, 1.1 percent; tileworks, 0.9 percent; and plumbing fixtures and accessories, 6.6 percent.
“The rest of the commodity groups either had higher annual mark-ups or retained their last month’s rates with the machinery and equipment rental index still registering a zero growth,” the PSA said.
On a monthly basis, meanwhile, the CMWPI in NCR grew by 0.4 percent in March. This was due to the 3- percent growth in the fuels and lubricants index.
The PSA also said the index of sand and gravel and electrical works posted a 0.2-percent growth, followed by the hardware index, 0.4 percent; plywood and plumbing fixtures and accessories indices, 0.6 percent; and lumber index, 0.1 percent.
“Upward adjustments in the prices of gasoline, diesel and fuel oil were noted during the month. Prices of sand, gravel, concrete and finishing nails, plywood, lumber, PVC doors, door jambs, electrical wires, some plumbing fixtures like kitchen sink and paints were also higher in March,” the PSA said.