MANILA, Philippines--Retail prices of building supplies in Metro Manila declined for the eighth straight month in December, according to the National Statistics Office.
NSO data show that the retail price index of selected construction materials in the National Capital Region?covering seven sub-groups of products?has been on the decline since it dropped year-on-year by 2.5 percent in May 2009.
The December year-on-year decrease in the index was attributed to the continued drop in prices of carpentry materials and miscellaneous building materials.
Also, more sluggish increases in prices of electrical materials and painting materials were observed. Respectively, these slowed to 4.8 percent and 1.1 percent in December.
On the other hand, year-on-year increases in prices of tinsmithry materials index remained at 3 percent while those of masonry materials and plumbing supplies surged at 1.9 percent and 1.6 percent, respectively.
On a monthly basis, the index showed no overall change.
Higher prices were seen in masonry and plumbing materials, but these were offset by the price declines in carpentry and painting materials and miscellaneous construction materials.
The NSO also said that decreasing prices were seen in lumber, plywood, wire nails, paints and steel bars.