The wholesale price of construction materials in the National Capital Region (NCR) recorded an annual average growth of 1.4 percent, latest data from the Philippine Statistics Authority showed.
Higher annual average growths during the year were noted in the following indices: sand and gravel (3.4 percent); concrete products (2.3 percent); reinforcing steel (5.7 percent); and cement (1.9 percent).
Meanwhile, slower annual average increments were registered in the following indices: hardware (0.9 percent); plywood (1.1 percent); electrical works (1.2 percent); and plumbing fixtures and accessories/waterworks (2.6 percent). The rest of the commodity groups either had negative annual average rates or had zero growth.
On month-on-month basis, construction wholesale price rate inched up by 0.5 percent in December 2016, a growth of 0.3 percent in the previous month.
Higher increments were posted in the indices of reinforcing steel (0.8 percent) and fuels and lubricants (3.3 percent). From zero growth, the indices of lumber increased by 0.4 percent; structural steel (0.5 percent); and electrical works (0.2 percent).
Lower monthly gain was, however, noticed in sand and gravel index at 0.2 percent. The indices of cement and plywood continued to slow down as it recorded -0.3 percent and -0.2 percent, respectively. The rest of the commodity groups had zero growth.
SOURCE: PHILIPPINE STATISTICS AUTHORITY