Philippines Inflation Rate At 27-Month High Of 3.3%


Consumer prices in Philippines rose 3.3 percent year-on-year in February of 2017, following a 2.7 percent increase in January and in line with markets expectations. It was the highest inflation rate since November 2014, as prices went up at a faster pace for food, housing and utilities and transport.

In February, upward price pressures came from: alcoholic beverages and tobacco (6.0 percent from 5.6 percent in the prior month), clothing and footwear (2.8 percent from 2.8 percent), housing, water, electricity, gas and other fuels (2.9 percent from 1.8 percent), furnishing households equipment and routine maintenance (2.3 percent from 2.3 percent), health (2.6 percent from 2.6 percent), transport (2.8 percent from 2.4 percent), communication (0.2 percent from 0.1 percent), recreation and culture (1.8 percent from 1.9 percent), education (1.8 percent from 1.8 percent) and restaurants and miscellaneous goods and services (2.1 percent from 2.2 percent). Prices of heavily-weighted food and non-alcoholic also beverages went up 4.1 percent, compared to a 3.4 percent rise in January. 

Core inflation rate rose 2.7 percent year-on-year, compared to a 2.5 percent rise in the prior month and slightly above consensus of a 2.6 percent gain. It was the highest figure since November 2014.

On a monthly basis, consumer prices went up 0.3 percent, the same pace as in the prior two months. Prices rose for: food and non-alcoholic beverages (0.1 percent); alcoholic beverages and tobacco (1.0 percent); clothing and footwear (0.1 percent); housing, water, electricity, gas and other fuels (1.2 percent); furnishing, households equipment and routine maintenance (0.1 percent); health (0.3 percent); communication (0.1 percent), recreation and culture (0.1 percent) and restaurant and miscelleneous goods and services (0.1. percent). In contrast, cost of transport fell 0.5 percent while cost of education remained unchanged.

Philippines Inflation Rate At 27-Month High Of 3.3%


PSA l Rida Husna | rida@tradingeconomics.com
3/7/2017 5:42:27 AM