The annual inflation rate in the Philippines rose to 4.2 percent in January 2021 from 3.5 percent a month earlier. This was the highest reading since January 2019, above both the central bank's target of 2.0 to 4.0 percent and market consensus of 3.5 percent. Main upward pressure came from all components: food and non-alcoholic beverages (6.2 percent vs 4.8 percent in December); transport (8.6 percent vs 8.3 percent); housing (0.4 percent vs 0.4 percent); alcoholic beverages (11.7 percent vs 12.1 percent); clothing (1.6 percent vs 1.6 percent); furnishing (2.9 percent vs 3.3 percent); health (2.6 percent vs 2.6 percent); communication (0.2 percent vs 0.2 percent); education (1.1 percent vs 1.1 percent); and restaurant and miscellaneous goods and services (3.0 percent vs 2.5 percent). In contrast, cost of recreation fell further (-0.7 percent vs -0.6 percent).On a monthly basis, consumer prices rose by 1.3 percent, the most since June 2008. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.20 percent from 1958 until 2021, reaching an all time high of 62.80 percent in September of 1984 and a record low of -2.10 percent in January of 1959. This page provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Philippines is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Philippines to stand at 3.50 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 3.00 percent in 2022, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.20 3.50 62.80 -2.10 1958 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-05 01:00 AM Oct 2.5% 2.3% 2.3% 2.4%
2020-12-04 01:00 AM Nov 3.3% 2.5% 2.6% 2.3%
2021-01-05 01:00 AM Dec 3.5% 3.3% 3.1% 2.7%
2021-02-05 01:00 AM Jan 4.2% 3.5% 3.5% 3.5%
2021-03-05 01:00 AM Feb 4.2% 4.2%
2021-04-06 01:00 AM Mar
2021-05-05 01:00 AM Apr
2021-06-04 01:00 AM May


News Stream
Philippines Inflation Rate Hits 2-Year High
The annual inflation rate in the Philippines rose to 4.2 percent in January 2021 from 3.5 percent a month earlier. This was the highest reading since January 2019, above both the central bank's target of 2.0 to 4.0 percent and market consensus of 3.5 percent. Main upward pressure came from all components: food and non-alcoholic beverages (6.2 percent vs 4.8 percent in December); transport (8.6 percent vs 8.3 percent); housing (0.4 percent vs 0.4 percent); alcoholic beverages (11.7 percent vs 12.1 percent); clothing (1.6 percent vs 1.6 percent); furnishing (2.9 percent vs 3.3 percent); health (2.6 percent vs 2.6 percent); communication (0.2 percent vs 0.2 percent); education (1.1 percent vs 1.1 percent); and restaurant and miscellaneous goods and services (3.0 percent vs 2.5 percent). In contrast, cost of recreation fell further (-0.7 percent vs -0.6 percent).On a monthly basis, consumer prices rose by 1.3 percent, the most since June 2008.
2021-02-05
Philippines Inflation Rate at 22-Month High in December
The annual inflation rate in the Philippines rose to 3.5 percent in December 2020 from 3.3 percent in November. This was the highest reading since February 2019, and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.8 percent vs 4.3 percent in November); transport (8.3 percent vs 7.9 percent); housing (0.5 percent vs 0.8 percent); alcoholic beverages (12.2 percent vs 12.3 percent); clothing (1.6 percent vs 1.6 percent); furnishing (3.3 percent vs 3.5 percent); health (2.6 percent vs 2.4 percent); communication (0.2 percent vs 0.3 percent); education (1.1 percent vs 1.1 percent); and restaurant and miscellaneous goods and services (2.5 percent vs 2.2 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent).On a monthly basis, consumer prices rose by 0.9 percent, after a 1.1 percent gain in November.
2021-01-05
Philippines Inflation Rate Hits 20-Month High
The annual inflation rate in the Philippines rose to 3.3 percent in November 2020 from 2.5 percent in October. This was the highest reading since March 2019 after typhoons ravaged the country and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.3 percent vs 2.1 percent in October); alcoholic beverages (12.3 percent vs 11.3 percent); clothing (1.6 percent vs 1.7 percent); housing (0.8 percent vs 0.9 percent); furnishing (3.5 percent vs 3.7 percent); health (2.4 percent vs 2.7 percent); transport (7.6 percent vs 7.9 percent); communication (0.3 percent vs 0.4 percent); education (1.1 percent vs 1.2 percent); and restaurant and miscellaneous goods and services (2.2 percent vs 2.4 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent). On a monthly basis, consumer prices rose by 1.1 percent, the highest since February 2011, after a 0.3 percent gain in October.
2020-12-04
Philippines Inflation Rate at 3-Month High in October
The annual inflation rate in the Philippines rose to a three-month high of 2.5 percent in October 2020 from 2.3 percent a month earlier, as the nation reopened further its economy following the COVID-19 crisis. Main upward pressure came from food and non-alcoholic beverages (2.1 percent vs 1.5 percent in September); alcoholic beverages and tobacco (11.3 percent vs 12.9 percent); clothing (1.7 percent vs 1.8 percent); housing (0.9 percent vs 1.2 percent); furnishing and routine maintenance (3.7 percent vs 3.7 percent); health (2.7 percent vs 2.8 percent); transport (7.9 percent vs 8.3 percent); communication (0.4 percent vs 0.4 percent); education (1.2 percent vs 1 percent); and restaurant and miscellaneous goods and services (2.4 percent vs 2.3 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.5 percent). On a monthly basis, consumer prices rose by 0.3 percent, also the highest in three months, after a 0.1 percent gain in September.
2020-11-05

Philippines Inflation Rate
In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent.