Philippines Inflation Rate Stays At 28-Month High


Consumer prices in Philippines rose 3.4 percent year-on-year in April of 2017, the same as in March. The inflation rate remained at its highest since November 2014, driven by faster rises in cost of food and transport while cost of housing and utilities increased further.

In April, upward price pressures came from all components: alcoholic beverages and tobacco (6.3 percent from 6.4 percent in the prior month), clothing and footwear (2.7 percent from 2.9 percent); housing, water, electricity, gas and other fuels (3.6 percent from 4.0 percent); furnishing, households equipment and routine maintenance (2.4 percent from 2.5 percent), health (2.5 percent from 2.8 percent), transport (3.2 percent from 2.6 percent), communication (0.3 percent from 0.2 percent), recreation and culture (1.5 percent from 1.8 percent), education (1.8 percent from 1.8 percent) and restaurants and miscellaneous goods and services (1.5 percent from 1.7 percent). Prices of heavily-weighted food and non-alcoholic beverages also went up 4.2 percent, faster than a 4.0 percent rise in March. 

Core consumer prices rose 3.0 percent from a year earlier, following a 2.9 percent rise in a month earlier and marking the highest figure since October 2014. 

On a monthly basis, consumer prices went up 0.2 percent, the same as in the prior month and staying at its lowest level since October 2016. Prices increased for: food and non-alcoholic beverages (0.2 percent), alcoholic beverages and tobacco (0.2 percent); clothing and footwear (0.1 percent); housing, water, electricity, gas and other fuels (0.2 percent); furnishing, households equipment and routine maintenance (0.1 percent); health (0.1 percent), transport (0.6 percent) and communication (0.1 percent). Cost was unchanged for: recreation and culture, education and restaurant and miscelleneous goods and services.

Philippines Inflation Rate Stays At 28-Month High


PSA l Rida Husna | rida@tradingeconomics.com
5/5/2017 9:34:38 AM