Producer prices in the Philippines rose by 3.6 percent year-on-year in February 2019, slowing from a revised 3.8 percent gain in January, as cost increased at a softer rate for: machinery except electrical (5.6 percent vs 7.2 percent in January); transport equipment (2.6 percent vs 3.6 percent); electrical machinery (1.1 percent vs 1.9 percent); fabricated metal products (3 percent vs 3.3 percent); furniture & fixtures (46.1 percent vs 50.1 percent); paper & paper products (1.5 percent vs 2.1 percent); and textiles (4.4 percent vs 5.3 percent). In addition, prices continued to fall faster for: basic metals (-4.5 percent vs -2.6 percent); wood & wood products (-7.7 percent vs -5.5 percent); and miscellaneous manufactures (-4.9 percent vs -4.5 percent). On a monthly basis, producer prices were flat in February, after a 5.3 percent rise in January. 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 4.10 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 0.50 in 12 months time. In the long-term, the Philippines Producer Prices Change is projected to trend around 0.30 percent in 2020, according to our econometric models.