• Month-on-Month

  The month-on-month growth rate of the retail price index of selected construction materials in NCR decelerated to 0.4 percent in May from 0.6 percent in April due to the -0.4 percent price decline posted in the index of miscellaneous construction materials. Moreover, a price hike in electrical materials index slowed down to 0.3 percent from 0.6 percent. Meanwhile, monthly price increases in carpentry and masonry materials indexes were higher at 1.3 percent and 0.4 percent, respectively from their corresponding last month's rates of -0.2 percent and 0.3 percent. The same rate of 0.2 percent was recorded in the index of painting materials and related compounds while a zero growth rate was registered in plumbing and tinsmithry materials index.

  Downward price adjustment was observed in steel bars. On the other hand, price increments were noted in lumber (tanguile), plywood and common wire nails.

• Year-on-Year

  The annual growth rate of the retail prices of selected construction materials in NCR went up to 3.1 percent in May from 2.5 percent in April. A higher annual rate of price gain was seen in carpentry materials index at 0.3 percent in May from -1.2 percent in April; electrical materials, 5.4 percent from 5.0 percent; masonry materials, 1.4 percent from 1.2 percent; plumbing materials, 3.2 percent from 2.1 percent; and miscellaneous construction materials, 7.4 percent from 5.9 percent. The annual upward price adjustments in the indexes of painting materials and related compounds and tinsmithry materials correspondingly slowed down to 1.7 percent and 4.0 percent from their respective previous month's rates of 2.1 percent and 4.1 percent.

Source: National Statistics Office
Manila, Philippines