Philippines' producer price inflation accelerated for the third consecutive month in March, preliminary data released by the National Statistics Office showed Tuesday.
The producer price index increased 3.2 percent on an annual basis in March, faster than the revised 3.1 percent growth seen in February. In January and December, the growth rates were 2.9 percent and 1.8 percent respectively.
Output prices of petroleum products climbed 14.5 percent annually, while food prices advanced 7.7 percent. There was a 0.5 percent annual growth in prices of footwear and wearing apparel during the month, and a 13.4 percent gain in prices of non-electrical machinery.
On a monthly basis, output prices decreased 0.2 percent in March, reversing the previous month's 0.2 percent increase, the agency said.
by RTT Staff Writer
For comments and feedback: email@example.com