Producers’ prices rose 3.2% in March–NSOBy Riza T. Olchondra
Philippine Daily Inquirer
Manufacturers’ prices rose 3.2 percent last March, according to preliminary results of the National Statistics Office’s (NSO) Producer Price Survey.
The NSO gathers actual producer prices of selected products every month through a nationwide survey.
The NSO said nine major sectors posted double-digit increases, including petroleum products (14.5 percent) and machinery except electrical (13.4 percent).
Other sectors where producers’ prices rose were food manufacturing (7.7 percent), rubber and plastic products (6.1 percent), transport equipment (1.4 percent), miscellaneous manufactures (3.9 percent), beverages (1 percent), footwear and wearing apparel (0.5 percent), paper and paper products (0.3 percent) publishing and printing (zero).
Also, 10 major sectors reported a decline in prices, led by furniture and fixtures (-12.5 percent).
Other decliners were basic metals (-4.8 percent), nonmetallic mineral products (-6 percent), electrical machinery (-0.5 percent), fabricated metal products (-6.2 percent), furniture and fixtures (-12.5 percent), wood and wood products (-9.2 percent), chemical products (-0.4 percent), textiles (-2.3 percent), tobacco products (-0.8 percent), leather products (-2.9 percent).
On a monthly basis, producers’ prices fell -0.2 percent in March from that of the previous month due to decreases in nine major sectors led by machinery except electrical (-2.5 percent).
Also, five sectors reflected increases, while six posted flat growths.
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