30.04.202602:07:26UTC+00Philippines Producer Inflation Hits Near 3-Year High

Producer prices in the Philippines rose by 2.5% year-on-year in March 2026, quickening from 1.4% in February and reaching their highest level since April 2023. The increase was largely driven by higher costs in the manufacture of coke and refined petroleum products (8.7% vs 3.6%), which contributed 49.4% of the overall annual growth in the manufacturing producer price index (PPI).

Price gains also accelerated in several other categories: computer, electronic and optical products (5.3% vs 3.4%), basic metals (4.3% vs 3.2%), beverages (2.0% vs 1.7%), fabricated metal products excluding machinery and equipment (2.2% vs 1.8%), and tobacco products (1.6% vs 0.9%).

By contrast, inflation slowed for food products (0.7% vs 0.9%), dragged down by vegetable and animal oils and fats, which recorded a 1.4% drop after a 0.4% increase previously. Deflation also continued in paper and paper products (-1.2% vs -1.0%).

On a monthly basis, producer prices rose 0.9% in March, rebounding from a 0.1% decline in the prior month.