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Financial News: Philippines Producer Price Inflation Rises For Second Mont

Philippines Producer Price Inflation Rises For Second Month

04/29/2022 - 02:15:00 (RTTNews)

(RTTNews) - The Philippines producer prices rose for the second straight month in March, data from the Philippine Statistics Authority showed on Friday.

The producer price index increased 5.0 percent year-on-year in March, following a 4.2 percent rise in February.

The latest rise in inflation was mainly due to increase in manufacturing of coke and refined petroleum products, by 17.9 percent.

Meanwhile, prices for manufacture of wood, bamboo, cane rattan articles and related products declined 6.6 percent yearly in March.

On a monthly basis, producer prices rose 0.7 percent in March, following a 0.6 percent increase in the previous month.

Among the components of the producer price index, the prices of manufacture of coke and refined petroleum products rose 2.9 percent monthly in March.

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