Philippines' Inflation Rate Slows to 2.1% in August


Philippines' annual inflation rate further decelerated to 2.1 percent in August from 2.5 percent in July, mainly due to lower cost of food, housing and transport. Inflation a year ago was 3.8 percent.

In August, an annual decrease of 0.3 percent was recorded in housing, water, electricity, gas and other fuels index, from 0.6 percent in July. Moreover, a slower annual gain was seen in prices of food and non-alcoholic beverages (1.8 percent from 2.3 percent); alcoholic beverages and tobacco (31.0 percent from 31.1 percent); clothing and footwear (3.0 percent from 3.1 percent); furnishing, household equipment and routine maintenance of the house (2.4 percent from 2.9 percent); and transport (1.0 percent from 1.6 percent). The rest of the commodity groups have either higher annual increases or retained their previous month’s annual rate.

Excluding selected food and energy items, core annual inflation increased at a slower pace of 1.9 percent in August from 2.3 percent in July.

The country’s consumer prices generally went up 0.2 percent in August from 0.1 percent in July, due to higher prices of rice, fish, fruits and personal care products. 

Philippines


National Statistics Office | Joana Taborda | joana.taborda@tradingeconomics.com
9/5/2013 9:29:25 AM