Producer prices in the Philippines rose 1.2% year-on-year in March, slower than a revised 1.8% rise in the previous month, the National Statistics Office said Wednesday.

During the month, producer prices increased annually in 16 major industries, with double-digit price rise in fabricated metal products, textiles, beverages, as also footwear and wearing apparel. However, there was a double-digit fall in the price of petroleum products.

Month-on-month, producer prices were up 0.5% in March, in contrast to a 0.4% decline in February. Prices rose in eight industries, led by furniture and fixtures. At the same time, prices were flat in three industries, including beverages, footwear and wearing apparel as also publishing and printing.

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