The price of construction materials in the National Capital Region significantly went up in December last year.
According to the Philippine Statistics Authority (PSA), annual rate of the retail price index of construction materials in NCR rose by 2.4 percent in December last year.
Year to date, the overall retail price of construction materials increased by 2.3 percent, higher than the 1.5 percent recorded in 2017.
The statistics agency, in its Construction Materials Retail Price Index (CMRPI) report for December, said the increase in the cost of carpentry materials (3.8 percent), electric materials (1.3 percent), masonry materials (5.6 percent) and painting materials and related compounds (0.9 percent) pushed higher the overall CMRPI growth.
Meanwhile, the indices which saw a decrease in annual increments included plumbing materials (1.1 percent), tinsmith materials (1.7 percent) and miscellaneous construction materials (2.2 percent).
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Month-on-month, NCR’s CRMPI for December recorded an uptick of 0.4 percent from November. PSA recorded a fast increase in electrical materials at 0.4 percent, masonry materials at 1.9 percent and miscellaneous construction materials at 0.6 percent.
