Construction costs in Metro Manila continued to rise in September—but at a slower pace—signaling some relief for builders and homeowners keeping an eye on material prices.
According to the Philippine Statistics Authority (PSA), the Construction Materials Retail Price Index (CMRPI) in the National Capital Region inched up by 1 percent year-on-year, easing from August’s 1.1 percent.
The deceleration was mainly driven by a decline in carpentry materials, which registered a 0.1 percent annual drop in September after a 0.3 percent increase in the previous month. Slower upticks in the prices of plumbing, electrical, masonry, and other construction materials also contributed to the moderation.
The CMRPI tracks the movement of average retail prices of construction materials sold in small quantities—such as those typically purchased for home renovations or small-scale projects.
The PSA noted that its retail price data are gathered from selected stores based on factors such as their popularity, consistency of supply, completeness of stock, and geographical representation—ensuring that the index reflects actual price movements seen by consumers in Metro Manila’s hardware and construction shops.
With the slowdown in September, analysts say the easing trend could provide some breathing room for the construction sector after months of steady price increases, though volatility in global supply and fuel costs may still influence prices in the coming months.