PRICES of construction materials in Metro Manila rose by double digits in March, the National Statistics Office said. The agency said the construction materials wholesale price index grew 15.7 percent year-on-year last month from 5.5 percent in the same period last year. However, the March up tick was slower than the 17.1 percent seen in February this year.

Higher prices were noted in reinforcing steel at 40.9 percent; structural steel, 33.9percent; asphalt, 20.8 percent; metal pipes, 24.9 percent; and aluminum and other metal products, 19.7 percent.

Prices of fuels and lubricants contracted by 23.8 percent in March, sharper than the -21.2 percent in February.

Likewise, slower annual price adjustments were noted in sand, stone and gravel, cement, plywood, asphalt, metal pipes, PVC pipes, paints, reinforcing steel, structural steel, G.I. sheets, interior electrical fixtures and devices, electrical rough-in materials and UPVC water pipes.

Prices of lumber, hardware, concrete products, aluminum and other metal products and exterior electrical equipment/supplies likewise picked up.

The rest of the commodity groups grew at the same pace as in February, while inflation for blasting materials and machinery and equipment rental was flat.

On a month-on-month basis, prices of construction materials in Metro Manila still registered a decline of 0.2 percent in March from -0.6 percent in February.

The NSO attributed the decline to the continued decreases in the prices of plywood at -0.5 percent from -2.1 percent previously; fuels and lubricants, -1.2 percent from -3.0 percent; metal pipes, -0.6 percent from -0.1 percent; and reinforcing steel, -1.3 percent from -2.9 percent.

Slower growth was observed in the price gains of cement, lumber, concrete products and exterior electrical equipment/supplies.