FX.co ★ Philippines Producer Prices Drop for 2nd Month

In June 2025, the Philippines witnessed a decline in producer prices by 0.45% compared to the same period the previous year, following a slight downward revision to a 0.38% fall in May. This marked the second successive month of reducing producer prices, largely driven by substantial decreases in the manufacturing costs of computer, electronic, and optical products, which fell by 2.5%, compared to a 2.1% drop in May, and accounted for 36.2% of the total decline. Other significant contributors to the more pronounced decrease included machinery and equipment, excluding electrical, which posted a 1.2% decrease compared to a 0.5% increase previously, and non-metallic mineral products, which fell by 4%, following a 3.1% decrease. Further declines were observed in the prices of basic metals, which dropped by 1% compared to a previous 1.3% decrease, and pharmaceutical and medicinal preparations, which fell by 1.9% against a previous 2.4% decrease. Prices of wearing apparel also fell slightly by 0.2% compared to a previous 1.9% dip. Conversely, prices for certain commodities increased, with coke and refined petroleum products rising by 4.6% compared to a 4.4% increase, food products growing steadily at 0.6%, and chemical products edging up by 0.8% after a previous 0.9% increase. On a monthly basis, there was a marginal rise in producer prices by 0.1% in June, rebounding from a 0.1% decline in May.