Philippines Producer Inflation at Highest Since 2023

Producer prices in the Philippines rose by 1.5% year-on-year in January 2026, accelerating from a downwardly revised 0.8% in the previous month and marking the highest reading since May 2023. Costs rebounded for food products (1.3% vs -0.1% in December), contributing 38.5% to the faster annual growth in manufacturing PPI. Prices also rose at a faster pace for computer, electronic and optical products (2.6% vs 0.8%), machinery and equipment except electrical (2.2% vs -0.4%), and wood, bamboo, cane, rattan articles and related products (1% vs -0.4%). Meanwhile, inflation eased for coke and refined petroleum products (3.4% vs 4.3%) and tobacco products (1.9% vs 3.5%), while prices declined for electrical equipment (-1.5% vs 0.2%) and wearing apparel (-0.5% vs 1.1%). On a monthly basis, producer prices rose by 0.5%, following a downwardly revised 0.1% increase in December.

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.