Factory gate prices post muted growth in October

MANILA, Philippines – Factory gate prices in October grew by a subdued 0.3 percent year-on-year as some manufacturing sectors dragged on the overall index, latest data from the Philippine Statistics Authority (PSA) show.

Month-on-month, it grew 0.4 percent and was a slight slowdown from September’s 0.8 percent growth.

READ: Factory gate prices continue uptrend

PSA’s monthly survey of manufacturers showed the Producer Price Index (PPI) was muted due to the annual drop in computer, electronic, and optical products.

The PPI for these products fell 1 percent from a year earlier, reversing a 0.6-percent increase in September. The drop accounted for more than half of the slowdown in overall manufacturing prices.