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Philippines Producer Inflation Eases to 2.4% in April

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The Philippines' producer price index (PPI) for manufacturing rose 2.4% year over year in April, slowing from a 2.6% increase in March, data from the Philippine Statistics Authority showed Friday.

The softer producer inflation was driven mainly by a slower 5.3% increase in the manufacture of coke and refined petroleum products, down from 8.2% in the previous month.

Slower PPI in the manufacture of computer, electronic and optical products at 4.3%, along with a 3.8% increase in basic metals, also contributed to the deceleration.

Meanwhile, PPI growth for food manufacturing accelerated to 1.4% in April from 1.2% in March, data showed.

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