Factory gate prices accelerate in July

MANILA, Philippines — Factory gate prices grew at a slightly faster pace in July than in the previous month, driven mainly by petroleum products, according to the Philippine Statistics Authority (PSA).

Preliminary data from the PSA yesterday showed that the Producer Price Index (PPI) for manufacturing posted an annual increase of 2.983 percent in July, slightly faster than the 2.980 percent growth in June.

The July PPI growth was also a reversal of the 0.1 percent dip in the same month last year.

“The acceleration in the annual growth rate of PPI for the manufacturing section in July 2026 was primarily due to the faster annual increment in the PPI for manufacture of coke and refined petroleum products industry division,” the PSA said.

Coke and refined petroleum products’ factory gate prices grew at a faster pace of 2.4 percent in July from the previous month’s 1.3 percent.

The industry division contributed 69 percent to the increase in the PPI growth rate in July.

Other major contributors to the PPI growth in July were computer, electronic and optical products and other manufacturing.

In particular, computer, electronic and optical products’ producer prices registered a faster 5.8 percent increase from the previous month’s 5.6 percent.

Other manufacturing and repair and installation of machinery and equipment posted a 3.2-percent increase, higher than the 2.4 percent recorded in June.

Of the remaining 19 industry divisions, 17 posted annual increases, while two industry divisions registered declines.

Those with positive PPI growth rates in July were: basic metals; transport equipment; food products; chemicals and chemical products; beverages; other non-metallic mineral products; machinery and equipment; tobacco products; rubber and plastic products; basic pharmaceutical products and pharmaceutical preparations; fabricated metal products; leather and related products including footwear; wood, bamboo, cane, rattain articles and related products; furniture; printing and reproduction of recorded media; textiles and wearing apparel.

Meanwhile, those with negative PPI growth rates in July were paper and paper products and electrical equipment.

Average PPI growth from January to July stood at 2.4 percent.