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 Change in Philippines averaged 2.71 percent from 1999 until 2019, reaching an all time high of 17.50 percent in January of 2001 and a record low of -10 percent in March of 2013.
Producer Prices Change in Philippines is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Philippines to stand at 1.60 in 12 months time. In the long-term, the Philippines Producer Prices Change is projected to trend around 3.30 percent in 2020, according to our econometric models.