{
  "id": 1305872,
  "title": "Prices of building materials climb at fastest pace in over 3 years",
  "url": "https://urgent.news/2026/08/16/prices-of-building-materials-climb-at-fastest-pace-in-over-3-years",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-16T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/08/17/2549707/prices-building-materials-climb-fastest-pace-over-3-years"
  },
  "original_language": "en",
  "account": null,
  "summary": "The prices of building materials in Metro Manila have reached their highest level in over three years, with growth in retail prices accelerating in July, according to the Philippine Statistics Authority (PSA). The Construction Material Retail Price Index (CMRPI) in the National Capital Region saw a 2.1 percent increase in July, marking the highest growth since May 2023. This surge in prices is primarily attributed to the impact of the Middle East conflict that began in February, which has led to higher global crude oil prices and subsequently affected construction material costs. The PSA's data also revealed that painting materials experienced the most significant increase, with a 2.7 percent growth in July, compared to 2.3 percent in the previous month. Other commodity groups, including electrical materials, masonry materials, plumbing materials, tinsmithry materials, and miscellaneous construction materials, also exhibited faster growth rates in July compared to the previous month. Experts predict that developments in the Middle East and the government's infrastructure spending plans will continue to influence construction material prices and demand in the coming months.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}