Philippines Producer Inflation Eases to 4-Month Low

Producer prices in the Philippines rose by 0.9% year-on-year in December 2025 from a 0.1% increase in the previous month. This marked the highest reading since February, largely driven by a rebound in prices for the manufacture of computer, electronic, and optical products (1.4% vs -0.6% in November), which contributed 46.1% to annual manufacturing PPI growth. Costs also rebounded for transport equipment (1.1% vs -0.2%) and for other manufacturing and repair and installation of machinery and equipment (0.5% vs -0.7%). At the same time, inflation picked up for basic metals (3.1% vs 0.8%) and coke and refined petroleum products (4.3% vs 3.4%), while deflation eased for beverages (-0.6% vs -0.7%), paper and paper products (-1.6% vs -1.7%), and basic pharmaceutical products and pharmaceutical preparations (-0.2% vs -1.7%). Meanwhile, prices declined for food products (-0.1% vs 0.1%). On a monthly basis, producer inflation was unchanged at 0.2% in December.

Producer prices in the Philippines rose by 0.1% year-on-year in November 2025, easing from an upwardly revised 0.5% increase in the previous month. This marked the lowest reading since the deflation recorded in July, primarily driven by a decline in prices for the manufacture of transport equipment (-0.1% vs 1.0% in October), which accounted for 25.8% of the slowdown in annual PPI growth in manufacturing. Slower price increases were also recorded in the manufacturing of food products (0.1% vs 0.5%). At the same time, the annual decrease in prices for the manufacture of computer, electronic and optical products continued (-0.5% vs -0.01%). Meanwhile, costs increased at a faster pace for the manufacture of tobacco products (3.4% vs 3.3%), wearing apparel (0.7% vs 0.2%), and furniture (0.6% vs 0.3%). On a monthly basis, producer inflation slowed to 0.2%, compared with an upwardly revised 0.6% rise in October.

Producer prices in the Philippines rose by 0.3% year-on-year in October 2025, easing from a downwardly revised 0.8% in the previous month. This marked the lowest reading since the deflation recorded in July, primarily driven by a decline in prices for the manufacture of computer, electronics, and optical products (-1% vs 0.6% in September), which accounted for 56% of the slowdown in annual PPI growth for manufacturing. Slower price increases were also recorded in the manufacturing of food products (0.4% vs 0.7%) and the manufacture of basic metals (1.4% vs 2.2%). Meanwhile, costs increased at a faster pace for the manufacture of coke and refined petroleum products (3.5% vs 3.3%), tobacco products (3.3% vs 2.6%), and chemical and chemical-related products (1.1% vs 0.6%). On a monthly basis, producer prices edged up 0.4%, compared with 0.1% in September.