Construction materials cost 1.4% more in NCR
MANILA, Philippines – Wholesale prices of construction materials in the National Capital Region (NCR) rose by an average of 1.4 percent in 2016, the Philippine Statistics Authority (PSA) reported over the weekend.
The annual average growth of the Construction Materials Wholesale Price Index (CMWPI) reversed the negative growth of 0.7 percent in 2015.
Higher annual markups during the year were seen in the indices of sand and gravel (3.4 percent), concrete products (2.3 percent), reinforcing steel (5.7 percent) and cement (1.9 percent).
Slower annual upticks, on the other hand, were seen in the indices of hardware (0.9 percent), plywood (1.1 percent), electrical works (1.2 percent) and plumbing fixtures and accessories/waterworks (2.6 percent).
The indices rest of the commodity groups either had negative annual average rate or had zero growth.
In December 2016 alone the CMWPI rose at a faster pace of 3.1 percent from 0.1 percent in December 2015. This was also faster than the growth of 2.1 percent in November 2016 and is the fastest in 2016. |
