THE RETAIL price growth of construction materials in the National Capital Region was steady in February with an acceleration in electrical materials prices offset by a slowdown in painting materials and related compounds, the Philippine Statistics Authority (PSA) reported on Tuesday.
Citing preliminary data, it said year-on-year growth in the construction materials retail price index (CMRPI) for Metro Manila remained at 1.2% in February, in line with the average in the year to date.
The February reading exceeded the 1.1% year-earlier level.
Compared to January readings, growth accelerated in the subindices of electrical materials (2.1% in February from 1.9% a month earlier), masonry materials (1.1% from 1%), plumbing materials (0.8% from 0.7%), and miscellaneous construction materials (1.1% from 0.9%).
Meanwhile, the PSA said slower price growth compared to a year earlier was noted in the indices for painting materials and related compounds (1.8% from 2.1%) and tinsmithry materials (1.9% from 2%).
The CMRPI is based on 2012 constant prices. — Matthew Miguel L. Castillo
