Prices of building materials continue to climb

MANILA, Philippines — Wholesale prices of building materials in Metro Manila continued to climb, rising at their fastest pace since the start of the pandemic last year, the Philippine Statistics Authority (PSA) said.

The latest Construction Materials Wholesale Price Index (CMWPI), which is used as a reference in the costing of government projects, went up 2.4 percent in April from 2.2 percent in March.

This is the highest reported uptick in prices since March 2020, when quarantine restrictions were put in place.

The index of fuels and lubricants registered the sharpest increase at 22.3 percent, coming from a 6.8 expansion the month before.

Faster increments were also seen in the indexes of the following commodity groups: concrete products and cement, doors, jambs, and steel casement, electrical works, and PVC pipes.

Declines, on the other hand, were recorded in hardware, lumber, plumbing fixtures and accessories.

Commodity groups with stable growth include sand and gravel, plywood, galvanized iron sheet, reinforcing and structural steel, tile works, glass products, painting works, asphalt, and equipment rentals.

The CMWPI, which is based on 2012 prices, covers 101 items.

The basket includes selected construction materials identified from the bills of materials provided by the Department of Public Works and Highways, National Housing Authority, and Subdivision and Housing Developers Association.