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Factory prices decline slower

Factory prices decline slower
Czeriza Valencia
© STAR/File
Factory prices decline slower
MANILA, Philippines — Factory gate prices declined at a slower pace in December as growth was seen in six industry groups, the Philippine Statistics Authority (PSA) said.
The Producer Price Index (PPI) for December 2020 declined at an annual rate of 2.4 percent, slower than the annual contraction of 3.2 percent in November.
The annual decline in the PPI in December was attributable to the negative growth rates in the indexes of 14 industry groups led by paper and paper products as well as petroleum products which posted annual declines of 10.2 percent and 6.8 percent, respectively.

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