November manufacturing prices post subdued growth
MANILA, Philippines – Factory gate prices in November kept a slow pace of growth, posting only a 0.1 percent increase, driven by a decline in the costs of manufacturing transport equipment, according to the Philippine Statistics Authority (PSA).
READ: Factory gate prices stalled in October
Latest data from the PSA show that the producer price index (PPI) for November was even more subdued than October’s annual increase of 0.5 percent.
Month-on-month, manufacturing prices rose just 0.2 percent.
The slower pace was largely due to the PPI for the manufacturing of transport equipment declining by 0.1 percent, down from a 1 percent annual increase recorded in the previous month. This industry alone contributed over a quarter to November’s sluggish PPI growth. INQ
