The rate of change in factory-gate prices rebounded to a 0.5 percent year-on-year growth in October following two consecutive months of decline, latest data from the National Statistics Office showed.
The NSO attributed the recovery to a double-digit increase in prices of petroleum products, which was pegged at 26.7 percent.
Results from the NSO’s latest monthly survey of factory-gate prices—covering 20 selected groups of manufactured goods included in the producer price index (PPI)—showed that prices in nine groups grew while eight other groups dropped. One group showed no price change.
On a month-on-month basis, the PPI increased faster at 0.7 percent from 0.5 percent in September.
Latest data on manufacturing output showed that the growth in the value of manufacturing output improved in September to 2.9 percent year on year from 2.2 percent in August.
In September, the growth in volume of manufactures eased to 1.2 percent from 1.7 percent in August.