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Philippines Producer Price Fall Slows In December

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Producer prices in the Philippines dropped 2.9% year-on-year in December, slower than the revised 4.1% decrease in the previous month, Manila-based National Statistics Office reported on Friday.

Twelve major sectors reported price reductions compared to the previous year in December, led by furniture & fixtures, basic metals, miscellaneous manufactures, electrical machinery, and fabricated metal products.

On a monthly basis, producer prices slipped 0.2% following the revised 0.6% growth in the preceding month. This was brought about by price falls in eight major sectors led by petroleum products.

Producer prices in the Philippines dropped 2.9% year-on-year in December, slower than the revised 4.1% decrease in the previous month, Manila-based National Statistics Office reported on Friday. (Market News Provided by RTTNews)

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