Philippines Inflation Rate Remains Steady in August


Philippines annual inflation rate was recorded at 4.9 percent in August of 2014, the same clip registered in July but above market expectations. Core inflation accelerated to a seventeen-month high.

Year-on-year, price pressures were seen on the heavily-weighted food and non-alcoholic beverages, which picked up 8.3 percent in August of 2014 from 8.2 percent in July; clothing and footwear (+3.4 percent from 3.3 percent); housing, water, electricity and gas (+2.7 percent from 2.4 percent); health (+3.3 percent from 3.2 percent) and furnishing, household equipment and routine maintenance (+2.7 percent from 2.6 percent). In contrast, prices of transport (1.1 percent from 1.5 percent) and restaurants (1.7 percent from 1.8 percent) slowed.

The country’s inflation in the food alone index climbed to 8.7 percent in August of 2014, unchanged from last month.

Core inflation, which excludes selected food and energy items, advanced 3.4 percent in August of 2014, accelerating from 3.0 percent in the previous month.

On a monthly basis, consumer prices rose 0.3 percent in August of 2014, slowing from a 0.4 percent increase in the previous month. Downward price pressures were recorded for health and education, which slightly decelerated to 0.3 percent from 0.4 percent in July. In contrast, higher monthly gains were recorded for alcoholic beverages and tobacco (+0.8 percent from 0.7 percent), clothing and footwear (+0.4 percent from 0.2 percent), utilities (+0.3 percent from +0.2 percent), recreation and culture (0.2 percent from zero growth) and restaurant and miscellaneous goods and service (+0.2 percent from 0.1 percent).

Philippines Inflation Rate Remains Steady in August


National Statistical Office l Rida l rida@tradingeconomics.com
9/5/2014 9:37:42 AM