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Financial News: Philippines Producer Prices Fall Further

Philippines Producer Prices Fall Further

03/02/2021 - 02:50:00 (RTTNews)

(RTTNews) - Philippines producer prices declined further in January, data from the Philippine Statistical Authority showed on Tuesday.

The producer price index decreased 5.3 percent year-on-year in January, following a 3.8 percent fall in December.

Prices for manufacture of coke and refined petroleum products declined 27.5 percent yearly in January, while those for manufacture of tobacco products grew 3.4 percent.

On a monthly basis, producer prices fell 1.7 percent in January, after a 0.9 percent growth in December.

Among the components of the producer price index, the prices of manufacture of computer, electronic and optical products fell 11.7 percent monthly in January.

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