Factory-gate prices hit 3-month high of 1.9% in September

The rate of increase in factory-gate prices jumped to a three-month high of 1.9 percent year on year in September.

The National Statistics Office (NSO) attributed the rise to a double-digit increase in the prices of petroleum products and basic metals—going up 27 percent and 11.5 percent, respectively.

Results from the NSO’s latest monthly survey of factory-gate prices—which covers 20 selected groups of manufactured goods included in the producer price index (PPI)—showed that prices in eight other groups grew while nine groups lost. One showed no price change.

Showing single-digit increases were prices of food manufacturing, non-electrical machinery, rubber and plastic products, tobacco, transport equipment, textiles, leather and wood products. On the other hand, prices of furniture and fixtures continued its double-digit dip at 26.7 percent.

Other price losers in September were electrical machinery, miscellaneous manufactured items, beverages, nonmetallic mineral products, fabricated metal products, footwear and wearing apparel, chemical products and paper products.

The change in the prices of publishing and printing remained at zero for the eighth month in a row.

On a month-on-month basis, the PPI increased by 0.9 percent, turning around from a decrease of 0.4 percent in August.

Latest data on manufacturing showed that the growth in the value of output in August slowed to 2.6 percent from 4.6 percent in July. In August, growth in volume also eased to 2.1 percent from 4.6 percent in July.