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Month-on-Month
On a monthly basis, the retail price index of selected construction materials in NCR dropped to -0.7 percent in November from 0.1 percent in October. This can be attributed to the decreases of the indexes of carpentry materials at -1.2 percent in November from 0.4 percent in October and miscellaneous construction materials, -1.9 percent from -0.3 percent. The same rate was posted in masonry materials at -0.1 percent. In addition, prices of electrical materials eased to 0.6 percent from 1.1 percent. Prices of painting materials and related compounds generally remained stable as the group's index posted a zero growth. The rest of the commodity groups have higher monthly growth rates.
Downward price adjustments were generally noted in lumber, wire nails, cement and steel bars during the month in review.
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Year-on-Year
The annual price movement of the retail prices of selected construction materials in NCR continued to register a negative rate at -1.3 percent in November from -2.8 percent in October. Annual price decline were still noted in miscellaneous construction materials at -9.5 percent from -18.2 percent and carpentry materials at -0.7 percent from 0.6 percent. In addition, price hike in masonry materials index decelerated to 1.6 percent in November from 1.8 percent in October; painting materials and related compounds, 1.2 percent from 1.3 percent; and plumbing materials, 0.9 percent from 1.1 percent. Annual price gains in electrical materials and tinsmithry materials index were however correspondingly higher at 5.4 percent and 3.0 percent, respectively.
Source: National Statistics Office
Manila, Philippines