FX.co ★ Philippines Producer Inflation Slowest in 4 Months

Producer prices in the Philippines witnessed a marginal increase of 0.1% year-on-year in April 2025, a deceleration from the 0.6% rise observed in March. This represents the slowest price growth since December 2024. The primary factor contributing to this moderation was the reduction in costs within several sectors, notably the manufacture of computer, electronic, and optical products, which saw a decline of 1.3% compared to a previous increase of 0.9%. Additionally, there were decreased costs in the electrical equipment sector (-3.4% compared to -2.6%), non-metallic mineral products (-3.1% vs. -2.1%), and basic metals (-0.9% compared to -0.1%). Conversely, producer inflation saw an upswing in the manufacture of coke and refined petroleum products, rising to 3.7% from the prior 2.9%, as well as growth in other manufacturing, repair, and installation of machinery and equipment at 1.8% compared to 1.6%, and in machinery and equipment excluding electrical, which increased to 1.3% from 1.1%. On a month-to-month basis, producer prices experienced a recovery, growing by 0.1% in April following an upward revision of a 0.3% decline in March.