Philippines Producer Prices Change

The producer price inflation in the Philippines rose to 1.6 percent year-on-year in August 2019, the highest since April, from a downwardly revised 0.7 percent gain in the prior month. Prices rose faster for furniture & fixtures (64.9% vs 64% in July), beverages (3.4% vs 2.9%), rubber & plastics (4% vs 3.9%), while cost rebounded for both miscellaneous manufactures (4.5% vs -8.8%) and transport equipment (0.4% vs -2.6%). At the same time, prices fell less for petroleum products (-6.7% vs -6.9%), electrical machinery (-3.3% vs -4.1%), fabricated metals (-8% vs -8.7%), and machinery except electrical (-2.3% vs -5.4%). On the other hand, inflation slowed for non-metallic mineral products (3.5% vs 8.1%), with cost declining for food manufacturing (-4.6% vs -4.3%), basic metals (-8.3% vs -7%), and leather products (-12.1% vs -7.8%). On a monthly basis, producer prices rose 1 percent, after a 0.8 percent fall in July.

The producer price inflation in the Philippines fell to 1.1 percent year-on-year in July 2019 from an upwardly revised 1.4 percent gain in the prior month. Prices eased for rubber & plastics (4.2% vs 5.2% in June) and beverages (2.9% vs 3.3%). Also, cost fell further for chemicals (-5.5% vs -4.9%); basic metals (-7.9% vs -6.4%); petroleum products (-2.9% vs -1.9%); electrical machinery (-5.1% vs -0.9%); fabricated metal products (-9.6% vs -8.4%); miscellaneous manufactures (-8.8% vs -7.3%); paper (-2.4% vs -1%) and textiles (-2.4% vs -1.6%). In contrast, prices rose at faster pace for both non-metallic mineral products (8% vs 7.6%) and furniture & fixture (64% vs 60.6%). Additionally, cost dropped less for transport equipment (-2.3% vs -2.5%); machinery except electrical (-1.9% vs -3.5%); footwear (-7.8% vs -9.9%); leather products (-12.5% vs -22.4%); and wood & wood products (-5.9% vs -7.1%). On a monthly basis, producer prices went down 0.4 percent, after a 0.2 percent fall in June.

The producer price inflation in the Philippines edged up to 1 percent year-on-year in June 2019 from a downwardly revised 0.9 percent in the prior month. Prices rose further for: non-metallic mineral products (8.5% vs 11.2% in May), furniture & fixture (57.9% vs 47.9%), rubber & plastics (5.1% vs 5.2%), beverages (3% vs 3.5%), and tobacco products (3.9% vs 5.3%). In contrast, cost fell for: transport equipment (-3.9% vs -4.2%), chemicals (-4.9% vs -5.3%), basic metals (-5.9% vs -8.2%), machinery except electrical (-3.5% vs 0.7%), electrical machinery (-1.5% vs -0.5%), petroleum products (-2.1% vs -0.4%), fabricated metal products (-6.6% vs -12.4%), footwear (-8.3% vs -3.1%), leather products (-19.5% vs -13%), miscellaneous manufactures (-7.3% vs -7.7%), and wood & wood products (-8% vs -3.5%). On a monthly basis, producer prices dropped by 0.4 percent in June, after a 0.1 percent fall in May.

The producer price inflation in the Philippines fell to 2.7 percent year-on-year in May 2019 from a downwardly revised 3.6 percent in the prior month. It was the lowest producer inflation rate in five months, as prices slowed for transport equipment (3.7 pct vs 4.5 pct in April), furniture & fixtures (47.9 pct vs 54.4 pct), machinery except electrical (0.8 pct vs 1.5 pct), and paper & paper products (1.9 pct vs 4.1 pct). In addition, cost fell further for basic metals (-8.1 pct vs -7.6 pct), chemicals (-5.4 pct vs -5.2 pct), and miscellaneous manufactures (-7.7 pct vs -6.6 pct). Also, prices dropped for electrical machinery (-0.6 pct vs 0.2 pct), and footwear & wearing apparel (-2.5 pct vs 0.2 pct). In contrast, cost rose faster for non-metallic mineral products (11 pct vs 10.7 pct); rubber & plastics (5.8 pct vs 5.7 pct); and fabricated metal products (3.7 pct vs 3.3 pct). On a monthly basis, producer prices edged down 0.02 percent in May, after a 0.4 percent fall in April.

Producer prices in the Philippines rose by 3.8 percent year-on-year in April 2019, easing from an upwardly revised 4.5 percent gain in March. Prices slowed for non-metallic mineral products (9.5 pct vs 10.3 pct in March); rubber & plastics (5.7 pct vs 5.9 pct); beverages (2.5 pct vs 2.6 pct); fabricated metal products (3.1 pct vs 6.1 pct); electrical machinery (0.3 pct vs 1.5 pct); and leather products (2 pct vs 4.6 pct). In addition, cost fell further for food manufacturing (-4 pct vs -3.6 pct); basic metals (-8 pct vs -4.4 pct); miscellaneous manufactures (-6.7 pct vs -4.9 pct); wood & wood products (-5.3 pct vs -1.8 pct); footwear & wearing apparel (-2 pct vs -1.6 pct); and textiles (-3.5 pct vs -3.3 pct). Also, cost of petroleum dropped (-1.1 pct vs 5 pct). On a monthly basis, producer prices declined 0.4 percent in April, after an upwardly revised 0.3 percent rise in March.

Producer prices in the Philippines rose by 3.6 percent year-on-year in March 2019, accelerating from a downwardly revised 2.6 percent gain in February, as cost increased at a faster rate for: transport equipment (3.5 pct vs 2.7 pct in February); fabricated metal products (3.6 pct vs 1.1 pct); furniture & fixtures (55.0 pct vs 45.4 pct); paper & paper products (4.8 pct vs 1.3 pct); petroleum products (4.8 pct vs 2.9 pct) while cost of leather products rebounded (2.2 pct vs -5.8 pct). Meantime, cost went up softer for textiles (3.1 pct vs 4.3 pct). In addition, prices fell less for: basic metals (-5.0 pct vs -5.2 pct); wood & wood products (-3.3 pct vs -9.0 pct). On the other hand, cost continued to drop for miscellaneous manufactures (-4.7 pct, the same as in February); machinery except electrical (-3.6 pct vs -0.6 pct). On a monthly basis, producer prices edged up 0.02 percent in March, after a revised 0.9 percent fall in February.