Prices of construction materials rise at faster pace in January

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February 15, 2026 | 12:00am

MANILA, Philippines — The bulk and retail prices of building materials in Metro Manila moved up at a faster pace in January from the previous month, according to the Philippine Statistics Authority (PSA).

Data from the PSA showed that the year-on-year growth rate of the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) was at 0.9 percent in January from the previous month’s 0.8 percent.

Last month’s CMWPI growth rate was also higher than the 0.1 percent uptick in January last year.

The PSA attributed the uptrend in CMWPI growth in January mainly to the slower decrease in structural steel at 1.7 percent this year from three percent in the previous month.
In addition, slower declines were recorded in reinforcing steel (0.7 percent in January from the previous month’s 1.5 percent) and metal products (0.6 percent from 0.7 percent).

Moreover, some commodity groups saw an uptrend in wholesale prices such as hardware (0.1 percent in January this year from the previous month’s 0.1 percent dip), fuels and lubricants (0.4 percent increase from a 1.9 percent drop) and PVC pipes (0.3 percent growth from 0.2 percent growth).

Rizal Commercial Banking Corp. chief economist Michael Ricafort said in an email that the faster growth in wholesale prices of construction materials in January “could be partly attributed to the higher dollar or peso exchange rate and the pick up in world metal prices in recent months that increased importation costs for some construction materials.”

PSA data also showed that the NCR’s Construction Materials Retail Price Index (CMRPI) also posted a higher growth of 1.2 percent in January from the previous month’s one percent.

However, the January CMRPI growth was unchanged from the same month last year.

The PSA cited the higher increase in tinsmithry materials as the main contributor to the higher CMRPI growth in January.

In particular, retail prices of tinsmithry materials rose by two percent in January from the previous month’s 1.7 percent.
Higher increments were also noted in plumbing materials (0.7 percent in January this year from the previous month’s 0.5 percent) and miscellaneous construction materials (0.9 percent from 0.8 percent).

Ricafort said the slowdown in government spending in infrastructure projects amid the flood control controversy, may have led to reduced construction activities and slowed demand for building materials.

Going forward, he said reduced borrowing costs or financing costs to finance new investments and expansion projects are expected to help increase construction activities and in turn, increase the demand for construction materials.