Philippine Producer Prices Continue To Fall In November

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Producer prices in the Philippines dropped 4.1% year-on-year in November, faster than the downwardly revised 5.1% decrease in the previous month, the Manila based National Statistics Office reported on Wednesday.

Eleven major sectors reported price reductions compared to the previous year in November, led by furniture & fixtures, paper & paper products, miscellaneous manufactures, electrical machinery, and basic metals.

On a monthly basis, producer prices grew 0.5% in November, rebounding from the downwardly revised 1.6% decline in the preceding month. This was brought about by price increases exhibited by six major sectors led by petroleum products.

Producer prices in the Philippines dropped 4.1% year-on-year in November, faster than the downwardly revised 5.1% decrease in the previous month, the Manila based National Statistics Office reported on Wednesday. (Market News Provided by RTTNews)