The National Statistics Office (NSO) said that prices of wholesale manufacturing products in the country eased in December, because of the high drop in wholesale prices of furniture and fixtures.
According to NSO’s producer price index (PPI) released on Tuesday, the annual producer prices eased by 1.5 percent from -5.7 percent in October to -4.2 percent in November.
“Furniture and fixtures, with a double-digit decrease of 35.4 percent mainly influenced the negative rate of the PPI. On the other hand, miscellaneous manufactures with an increase of 13.9 percent led the 10 sectors that reflected increments,” the NSO said.
On a monthly basis, the PPI went up by 0.4 percent to 0.7 percent in November compared to the 0.3 percent in recorded in October, because of the “increases in prices of three heavily weighted sectors.”
The three sectors that gained in November included petroleum products with 4.7-percent increase; electrical machinery with 2.3 percent; and machinery except electrical with 1.2 percent.
Despite the three sectors gaining, the NSO said that five sectors “posted flat growths while six sectors posted deceases.”