Retail prices of construction materials in Metro Manila held steady in June as annual price growth remained unchanged from the previous month, according to the Philippine Statistics Authority (PSA).
PSA data showed the Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) stayed at 1.8 percent in June, matching the pace recorded in May although higher than the 1.1 percent posted in the same month last year.
The June reading brought the year-to-date average CMRPI growth to 1.7 percent.
Annual price increases have gradually picked up since the start of the year, rising from 1.2 percent in January and February to 1.3 percent in March before accelerating to 1.7 percent in April and 1.8 percent in May and June.
The PSA attributed the steady annual growth to faster price increases for several construction materials, including carpentry materials, whose annual growth accelerated to 0.9 percent from 0.6 percent in May; masonry materials, to 2.3 percent from 2 percent; and tinsmithry materials, to 3 percent from 2.9 percent.
These were partly offset by slower price increases for electrical materials, which eased to 1.7 percent from 2 percent; painting materials and related compounds, to 2.3 percent from 2.9 percent; plumbing materials, to 0.7 percent from 0.8 percent; and miscellaneous construction materials, to 1.5 percent from 1.6 percent.
The CMRPI tracks the retail prices of construction materials typically purchased by households and small-scale builders, serving as a key indicator of trends in the residential construction sector.