August 24, 2019
The Philippine Statistics Authority (PSA) said the construction materials’ retail price index further eased to 0.9 percent in July from 1.0 percent in June this year.
In a report released on Friday, PSA said last month’s index was likewise lower compared to the 2.5 percent posted in the same month last year.
PSA said slower annual increments were recorded in the indices of electrical materials (0.3 percent), plumbing materials (0.5 percent), tinsmithry materials (0.9 percent), and miscellaneous construction materials (1.0 percent).
Higher mark-ups however were observed in the indices of masonry materials index at 1.9 percent and painting materials and related compounds at 1.2 percent.
PSA said that month-on-month, the retail price index slightly increased by 0.05 percent following a 0.5 percent drop in June.
The indices of carpentry materials inched up by 0.02 percent; masonry materials and painting materials and related compounds at 0.3 percent; plumbing materials, 0.04 percent; and tinsmithry materials, 0.1 percent.
PSA said the indices of electrical materials and miscellaneous construction materials went down by 0.1 percent and 0.2 percent respectively.
“Higher prices during the month were posted in lumber, plywood, common wire nails, gravel, sand, hollow blocks and paints. Prices of corrugated G.I. sheets also went up during the month. Meanwhile, prices of electrical wires, cement and steel bars went down during the period,” said PSA.
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