Philippines Inflation Rate At 4-Month Low Of 3.1% In May


Consumer prices in the Philippines rose 3.1 percent year-on-year in May of 2017, following a 3.4 percent rise in April and below market expectations of 3.3 percent. It was the lowest inflation rate since January, as cost of food and transport rose at slower paces while inflation was steady for housing & utilities.

In May, price increased less than in a month earlier for: alcoholic beverages and tobacco (6.1 percent from 6.3 percent), clothing and footwear (2.2 percent from 2.7 percent); furnishing, households equipment and routine maintenance (2.3 percent from 2.4 percent),  health (2.4 percent from 2.5 percent), transport (2.7 percent from 3.2 percent), communication (0.2 percent from 0.3 percent) and recreation and culture (1.4 percent from 1.5 percent). Prices of heavily-weighted food and non-alcoholic beverages also increased by 3.8 percent, slowing from a 4.2 percent rise in April. Cost went up at a faster pace for: restaurants and miscellaneous goods and services (1.6 percent from 1.5 percent). Inflation was steady for: housing, water, electricity, gas and other fuels (3.6 percent) and  education (1.8 percent). 

Core consumer prices slowed to 2.9 percent from a yer earlier, compared to a 3 percent gain in April. 

On a monthly basis, consumer prices edged up 0.1 percent, following a 0.2 percent gain in the prior month. Prices increased for: food and non-alcoholic beverages (0.2 percent), alcoholic beverages and tobacco (0.3 percent); clothing and footwear (0.1 percent); furnishing, households equipment and routine maintenance (0.1 percent); health (0.1 percent), recreation and culture (0.1 percent) and restaurant and miscelleneous goods and services (0.1 percent). In contrast, cost fell for: housing, water, electricity, gas and other fuels -(0.2 percent) and transport (-0.2 percent). Cost was flat for: communication and education.

Philippines Inflation Rate At 4-Month Low Of 3.1% In May


Rida | rida@tradingeconomics.com
6/6/2017 1:49:34 AM