Prices of construction items increase faster in Metro Manila

Specifically, prices of construction materials in Metro Manila grew 20% last December, significantly faster than the 3.5% annual growth posted in the same month in 2007.

Steel products recorded the fastest year-on-year rise in prices last December, with cost of reinforcing steel and structural steel rising by 39% and 40%, respectively. Prices of fuels and lubricants grew 27%, compared to 19.5% in December 2007. Asphalt prices rose 20.7% from 20.6% in the same comparative months.

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