Philippines Inflation Rate at 18-Month High of 2.3%


Consumer prices in Philippines rose 2.3 percent year-on-year in September of 2016, following a 1.8 percent increase in August while market expected a 2.1 percent rise. It was the highest inflation rate since March 2015, driven by a faster increase in prices of food and non-alcoholic beverages and housing and utilities.

Year-on-year, prices of heavily-weighted food and non-alcoholic beverages increased by 3.1 percent (from + 2.4 percent rise in August). Cost also went up for: alcoholic beverages and tobacco (+6.2 percent from +6.0 percent), clothing and footwear (+2.7 percent from +2.6 percent); housing, water, electricity, gas and other fuels (+0.9 percent from +0.2 percent); furnishing, households equipment and routine maintenance (+2.3 percent from +2.2 percent), health (+2.7 from +2.7 percent), transport (+0.2 percent from +0.1 percent), communication (+0.1 percent from +0.1 percent), recreation and culture (+1.7 percent from +1.7 percent), education (+1.8 percent from +1.8 percent) and restaurant and miscellaneous goods and services (+2.4 percent from +2.4 percent). 

Core consumer prices also rose 2.3 percent from a year earlier, compared to 2.0 percent in the preceding month. It was the highest figure since April 2015.

On a monthly basis, consumer prices rose 0.2 percent, after gaining 0.1 percent in August. It was the highest reading since June as prices went up for most components: food and non-alcoholic beverages (+0.4 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), transport (+0.2 percent), recreation and culture (+0.1 percent) and restaurant and miscellaneous goods and services (+0.1 percent). Cost remained unchanged for housing, water, electricity, gas and other fuels, communication and education.

Philippines Inflation Rate at 18-Month High of 2.3%


PSA l Rida Husna | rida@tradingeconomics.com
10/5/2016 3:22:26 AM