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Building materials’ retail price rose slower in May

June 15, 2019

The retail price index of construction materials in the country rose at a slower pace at 1.6 percent in May compared to the month-ago is 1.7 percent, the Philippine Statistics Authority (PSA) said.

Last month’s index was likewise lower than to the 2.6 percent posted in the same month in 2018.

Slower annual increases were recorded in carpentry materials (1.6 percent), electrical materials (1.1 percent), and miscellaneous construction materials (1.9 percent).

However, higher mark-up was noted in the masonry materials index at 4.3 percent.

Month-on-month, the retail price index remained stable, posting zero growth in May from 0.04 percent in April.

But masonry materials slightly went up by 0.03 percent while slower increases were seen in carpentry materials (0.1 percent) and painting materials (0.03 percent).

Electrical materials went down by 0.2 percent and plumbing materials by 0.03 percent. “Higher prices were observed in lumber, cement, sand, hollow blocks, common wire nails, paints and faucet in May 2019,” PSA said.

However, electrical wires and corrugated G.I. sheet have lower prices during the month, it added.

Credit belongs to : www.manilatimes.net

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