The Philippines' annual inflation rate increased to 2.5 percent in December 2019 from 1.3 percent in the previous month and beating market estimates of 2.1 percent. This was the highest inflation rate since June, driven by prices of food & non-alcoholic beverages (1.7% vs flat reading in November), mainly reflecting seasonal effects of higher demand during the Christmas season and the impact of recent typhoons on crops. Additional upward pressure came from cost of transport (2.2% vs -2.4%), namely domestic pump prices (17.1%); housing, water, electricity, gas & other fuels (1.9% vs 1.2%); furnishings (3.1% vs 2.8%) and alcoholic beverages & tobacco (18.4% 17.6%). Meanwhile, inflation was steady for education (at 4.6%); recreation & culture (at 1.4%); restaurant, miscellaneous goods & services (at 2.7%) and communication (at 0.3%). On a monthly basis, consumer prices rose by 0.7 percent in December, the highest since September 2018, after a 0.25 percent gain in November. Inflation Rate in Philippines averaged 8.30 percent from 1958 until 2019, 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. source: Philippine Statistics Authority

Inflation Rate in Philippines is expected to be 2.50 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 3.30 percent in 2020, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.50 1.30 62.80 -2.10 1958 - 2019 percent Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 01:00 AM Sep 0.9% 1.7% 1.1% 2%
2019-11-05 01:00 AM Oct 0.8% 0.9% 0.8% 1.0%
2019-12-05 01:00 AM Nov 1.3% 0.8% 1.3% 1.2%
2020-01-07 01:00 AM Dec 2.5% 1.3% 2.1% 2.2%
2020-02-03 01:00 AM Jan 2.5% 2.6%


News Stream
2019-12-05
Philippines Inflation Rate Matches Estimates
The Philippines' annual inflation rate increased to 1.3 percent in November 2019 from 0.8 percent in the previous month and in line with market estimates. This was the highest inflation rate since August, mainly due to a faster rise in prices of housing while food prices were unchanged and transport prices decline further. On a monthly basis, consumer prices rose by 0.25 percent in October, after a 0.2 percent rise in October, and matching market consensus.

2019-11-05
Philippines Inflation Rate at 3-1/2-Year Low
The Philippines' annual inflation rate edged down to 0.8 percent in October 2019 from 0.9 percent in the previous month and in line with market estimates. This was the lowest inflation rate since April 2016, as both prices of food and transport declined further amid a softer rise in cost of housing. On a monthly basis, consumer prices rose by 0.2 percent in October, the same as in September.

2019-10-04
Philippines Inflation Rate at Over 3-Year Low
The Philippines' annual inflation rate fell to 0.9 percent in September 2019 from 1.7 percent in the previous month and below market expectations of 1.1 percent. It was the lowest inflation since May of 2016, as both prices of food and transport cost fell while housing inflation slowed.

2019-09-05
Philippines Inflation Rate at Near 3-Year Low of 1.7%
The Philippines' annual inflation rate fell to a near three-year low of 1.7 percent in August 2019 from 2.4 percent in the previous month but above market expectations of 1.8 percent. Food inflation reached its lowest in nearly four years while housing inflation slowed and transport prices fell. On a monthly basis, consumer prices rose by 0.1 percent in August, easing from a 0.2 percent gain in July.

2019-08-06
Philippines Inflation Rate Hits 2-Year Low of 2.4%
The Philippines' annual inflation rate fell to a two-year low of 2.4 percent in July 2019 from 2.7 percent in the previous month and in line with market expectations. Food inflation reached its lowest in nearly three years and there was a noticeable slowdown in prices of both housing and transport. On a monthly basis, consumer prices rose by 0.2 percent in July, after a 0.1 percent gain in June.

2019-07-05
Philippines Inflation Rate at 22-Month Low of 2.7%
The Philippines' annual inflation rate fell to a 22-month low of 2.7 percent in June 2019 from 3.2 percent in the previous month and below market expectations of 2.9 percent. Food inflation dropped to its lowest since January 2017, and there was a slowdown in cost of both housing and transport. On a monthly basis, consumer prices rose by 0.2 percent in June, easing from a 0.3 percent gain in May.


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.

Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 2.50 1.30 62.80 -2.10 percent [+]
Inflation Rate Mom 0.70 0.25 8.80 -4.50 percent [+]
Consumer Price Index CPI 121.90 121.10 121.90 1.00 points [+]
Core Consumer Prices 120.90 120.50 120.90 59.24 points [+]
Core Inflation Rate 3.10 2.60 7.25 1.40 percent [+]
GDP Deflator 191.00 186.30 198.26 12.87 points [+]
Producer Prices 133.23 133.67 180.70 81.10 points [+]
Producer Prices Change 0.50 -0.80 17.50 -10.00 percent [+]
Food Inflation 1.70 0.00 17.30 -0.90 percent [+]
Import Prices 113.04 116.44 138.30 11.46 Price Index [+]
Export Prices 90.93 91.45 133.52 8.57 Price Index [+]
CPI Housing Utilities 114.00 113.50 114.00 97.90 points [+]
CPI Transportation 106.90 106.20 108.80 91.90 points [+]