THE manufacturing producer price index (PPI) grew by 0.5 percent in August, the Philippine Statistics Authority reported on Friday, showing an increase from July's 0.05 percent but a significant slowdown compared to the 7.4 percent of the previous year.

'The increase in the annual growth rate of PPI in August 2023 was primarily brought about by the faster annual increase in manufacture of computer, electronic and optical products industry division at 2.5 percent in August 2023 from 1.2 percent in July 2023,' the PSA said in a statement.