Philippines Inflation Rate At 25-Month High Of 2.7%


Consumer prices in Philippines rose 2.7 percent year-on-year in January of 2017, following a 2.6 percent increase in December. It is the highest inflation rate since December 2014 as cost rose faster for housing, utilities and transport.

In January, upward price pressures came from most components, including clothing and footwear (2.8 percent from 2.5 percent in the previous month), housing, water, electricity, gas and other fuels (1.8 percent from 1.3 percent), furnishing households equipment and routine maintenance (2.3 percent from 2.4 percent), health (2.6 percent from 2.3 percent), transport (2.4 percent from 1.9 percent), recreation and culture (1.9 percent from 1.7 percent) and restaurants and miscellaneous goods and services (2.2 percent from 2.1 percent). Prices of heavily-weighted food and non-alcoholic beverages increased by 3.4 percent, compared to a 3.6 percent rise in December. Inflation was steady for communication (0.1 percent) and education (1.8 percent).

Core inflation rate stood at 2.5 percent year-on-year, the same as in the prior month. The figure remained the highest since March 2015.

On a monthly basis, consumer prices went up 0.3 percent, also the same rate as in December. Prices rose for: food and non-alcoholic beverages (+0.5 percent); alcoholic beverages and tobacco (+0.4 percent); clothing and footwear (+0.4 percent); housing, water, electricity, gas and other fuels (+0.2 percent); furnishing, households equipment and routine maintenance (+0.2 percent); health (+0.4 percent); recreation and culture (+0.2 percent) and restaurant and miscelleneous goods and services (+0.1. percent). In contrast, cost of transport fell 0.4 percent while cost of education remained unchanged.

Philippines Inflation Rate At 25-Month High Of 2.7%


PSA | Rida Husna | rida@tradingeconomics.com
2/7/2017 11:16:08 AM