Philippine January Wholesale Price Inflation Weakens





Philippines' wholesale price inflation weakened in January after picking up in each of the preceding four months, data published by the National Statistics Office revealed Tuesday.
The wholesale price index advanced 4.8 percent on an annual basis in January, which was slower than the 5.3 percent gain recorded in December. In November, prices grew by 4.1 percent.
The movement of the index was influenced slower growth rates of 32.4 percent for crude materials, inedible except fuels; and 6.2 percent for chemicals including animal and vegetable oils and fats.
However, higher annual increments were observed in mineral fuels, lubricants and related materials, at 6.5 percent; manufactured goods classified chiefly by materials index, at 1.6 percent; and machinery and transport equipment, at 1.8 percent, data showed.
On a monthly basis, wholesale prices moved up 0.3 percent in the beginning of the year, after growing 1 percent in December, data showed.


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