Philippine Producer Prices Rise 0.2% In December

(RTTNews) - Philippine producer prices increased for the second straight month in December, and at a slower pace, data from the Philippine Statistics Authority showed on Friday.

The producer price index edged up 0.2 percent year-on-year in December after a 0.4 percent rise in November.

The slower increase in December was mainly due to price developments in the food products industry, where prices grew at a weaker pace of 1.7 percent versus a 2.4 percent climb in November.

Similarly, the annual price growth decelerated in the manufacture of basic metals to 1.5 percent from 3.2 percent.

Manufacture of computer, electronic and optical products was the main contributor to the overall annual growth rate of PPI for manufactured goods, the agency said.

On a monthly basis, producer prices dropped 0.2 percent in December, reversing a 0.6 percent increase in the previous month.

During the year 2024, the overall producer price index dropped 0.7 percent compared to 2023.