Published Date : Sep 29, 2015
According to Philippine Statistics Authority (PSA) the retail rates of construction rates in Metro Manila declined in August 2015 as well. The data published by PSA emphasized on the drop of 0.4% seen in Construction Materials Retail Price Index (CMRPI) of the National Capital Region (NCR). This decline was more than 0.3% as was observed in July 2015. The data further showed that the CMRPI had actually improved by 1.5% in August last year.
The data blamed this drop on the 1.7% drop in the prices of electrical materials, which holds huge importance in the CMRPI. PSA stated that the year increase was seen in indices of painting materials and carpentry materials at 0.5% and 1.5% respectively. The authority also said that there has been a drop of 1% in the indices of painting materials, plumbing materials, and tinsmithry materials. On a positive note the indices of miscellaneous construction materials and carpentry materials were up by 0.5% and 0.1% respectively.
The authority stated that the rates of paint thinner, cement, selected tinsmithry materials, and GI [galvanized iron] pipes plummeted during the past month. On the other hand, steel bars and wire nails recorded a rise and the remainder of the construction materials industry remained stable.
The CMRPI is similar to General Retail Price Index (GRPI), which helps in measuring the price changes made by retailers to sell their goods to end-user and consumers in a given base year. The GRPI is calculated on a monthly basis and is published after 36 days after the actual reference month. On the other hand CMRPI is released after just about 15 days of the reference month