Philippines' producer price index (PPI) for manufacturing edged down 0.4% year on year in May, faster than the 0.001% drop in the month prior, data from the Philippine Statistics Authority showed Wednesday.

In May 2024, the index had slid 0.8%.

The faster decline was driven mainly by a faster annual drop in the PPI for the manufacture of computer, electronic and optical products industry division at 2.1% in May versus a 1.3% drop in the month before, the data showed.