By Isa Jane D. Acabal, Researcher
Retail price growth of construction materials within the National Capital Region (NCR) accelerated to a 15-month high in March driven by the continuing war within the Middle East.
Data from the Philippine Statistics Authority (PSA) showed the annual growth rate of construction materials retail price index (CMRPI) in NCR increased to 1.3% in March, from 1.2% in February and a yr ago.
This was the strongest reading in over a yr or for the reason that 1.5% growth recorded in December 2024.
For the primary quarter of 2026, the CMRPI growth averaged 1.3%, higher than the 1.2% average growth a yr earlier.
The CMPRI is predicated on 2012 constant prices.
The PSA attributed the expansion in March to higher annual increase seen in tinsmithry materials at 2.3% from 1.9% in February and 1.6% a yr ago.
Faster yearly increases were also noted in masonry materials (1.5% in March from 1.1% in February), painting materials and related compounds (2% from 1.8%), and miscellaneous construction materials (1.3% from 1.1%).
The index of carpentry materials ended flat (0%) in March from a 0.2% drop within the previous month.
Electrical materials, meanwhile, slowed to 2% in March from 2.1% in February. Plumbing materials likewise eased to 0.4% from 0.8%.
Jonathan L. Ravelas, a senior adviser at Reyes Tacandong & Co., said the uptick within the retail prices of constructing materials in March reflects “cost pass-through, not overheating demand” driven by the continuing war within the Middle East.
“Metals, chemicals, fuel, and logistics costs edged higher, and suppliers are steadily passing these on, especially in tinsmithry, masonry, and ending materials tied to renovation activity in NCR,” he said in a Viber message.
The Middle East conflict, which began at the tip of February, brought oil price shock in addition to disruption in supply chain and tourism. As a net importer of oil, the Philippines is grappling with mounting inflationary pressures as global energy prices surge.
Mr. Ravelas sees retail price growth of construction materials to stay in low single digits in the approaching months, unless a commodity shock happens or when peso further weakens.
“For now, that is manageable cost pressure — not a construction inflation scare,” he added.