Philippines' wholesale price index decreased for the second consecutive month in December, data released by the National Statistics Office showed Tuesday.
The wholesale price index declined 0.5 percent on an annual basis in December, after falling 0.6 percent in November.
Driving the overall slump, sales of crude materials, inedible except fuels, declined by 27.9 percent annually in December, while trade in mineral fuels, lubricants and related materials dropped 3 percent. Sales of chemicals, including animal and vegetable oils and fats, were lower by 3.5 percent compared to last year.
Meanwhile, wholesale trade in manufactured goods rose 1 percent year-on-year, and sales of machinery and transport equipment advanced 2.5 percent. There was a 2.2 percent gain in sales of food products.
On a monthly basis, the wholesale price index edged down 0.1 percent in December, following the previous month's 0.4 percent fall.
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