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. Inflation Rate in Philippines averaged 8.35 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.

Inflation Rate in Philippines is expected to be 3.20 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 4.20 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.

Philippines Inflation Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2019-04-05 01:00 AM Inflation Rate YoY Mar 3.3% 3.8% 3.5% 3.4%
2019-05-07 01:00 AM Inflation Rate YoY Apr 3.0% 3.3% 3% 3.1%
2019-06-05 01:00 AM Inflation Rate YoY May 3.2% 3.0% 2.9% 3%
2019-07-05 01:00 AM Inflation Rate YoY Jun 2.7% 3.2% 2.9% 3.1%
2019-08-06 01:00 AM Inflation Rate YoY Jul 2.7% 2.8%
2019-09-05 02:00 AM Inflation Rate YoY Aug 3%
2019-10-04 01:00 AM Inflation Rate YoY Sep 3.2%



Philippines June Inflation Rate Slows to 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.

The central bank set an inflation target range of between 2 to 4 percent from 2018 to 2020.

Year-on-year, prices of food and non-alcoholic beverages increased by 2.7 percent in June, slowing from a 3.4 percent rise in May. It was the lowest food inflation since January 2017, as cost fell for corn (-4 percent), rice (-1.7 percent), and bread (-0.6 percent), while prices rose further for other cereals, flours, cereal preparation, bread, pasta and other bakery products (3.6 percent); meat (3.3 percent); fish (3.8 percent); milk, cheese and egg (2.5 percent); oils and fats (2.9 percent); fruits (5 percent); vegetables (9.5 percent); sugar, jam, honey (2.2 percent), and food products, n.e.c (7.3 percent).

In addition, prices eased for housing, water, electricity, gas and other fuels (3 percent vs 3.3 percent in May); transport (1.6 percent vs 3.5 percent); furnishing, household equipment and routine maintenance (3.1 percent vs 3.2 percent); communication (0.3 percent vs 0.4 percent); and alcoholic beverages and tobacco (9.3 percent vs 9.5 percent). Also, cost of education fell further (-4.5 percent vs -3.8 percent). In contrast, inflation was steady for both clothing and footwear (at 2.4 percent), and restaurant and miscellaneous goods and services (at 3.3 percent). Additionally, prices advanced at a faster pace for both health (3.7 percent vs 3.6 percent) and recreation and culture (3.2 percent vs 3.1 percent).

On a monthly basis, consumer prices rose by 0.2 percent in June, slowing from a 0.3 percent gain in May. Prices went up for alcoholic beverages and tobacco (0.7 percent); clothing and footwear (0.2 percent); housing, water, electricity, gas and other fuels (0.4 percent); furnishing, household equipment and routine maintenance (0.2 percent); health (0.3 percent), recreation and culture (0.1 percent), education (1.2 percent), and restaurants & miscellaneous goods and services (0.3 percent). Meanwhile, cost of transport dropped (-1.5 percent) while food and non-alcoholic beverages prices were flat.


PSA l Rida Husna | rida@tradingeconomics.com
7/5/2019 9:43:51 AM



Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 2.70 3.20 62.80 -2.10 percent [+]
Inflation Rate Mom 0.20 0.30 9.00 -4.80 percent [+]
Consumer Price Index CPI 119.90 119.80 119.90 1.00 Index Points [+]
Core Consumer Prices 119.00 118.70 119.00 59.24 Index Points [+]
Core Inflation Rate 3.30 3.50 7.25 1.40 percent [+]
GDP Deflator 186.39 198.26 198.26 12.87 Index Points [+]
Producer Prices 138.30 138.40 180.70 81.10 Index Points [+]
Producer Prices Change 2.70 3.60 17.50 -10.00 percent [+]
Food Inflation 2.70 3.40 17.30 -0.80 percent [+]
Import Prices 119.16 119.32 138.30 11.46 Price Index [+]
Export Prices 101.91 107.55 133.52 8.57 Price Index [+]
CPI Housing Utilities 113.50 113.60 113.70 97.90 Index Points [+]
CPI Transportation 106.40 108.00 108.80 91.90 Index Points [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.70 3.20 62.80 -2.10 1958 - 2019 percent Monthly




Country Last Previous
Argentina 55.80 Jun/19
Australia 1.30 Mar/19
Brazil 3.37 Jun/19
Canada 2.00 Jun/19
China 2.70 Jun/19
Euro Area 1.30 Jun/19
France 1.20 Jun/19
Germany 1.60 Jun/19
India 3.18 Jun/19
Indonesia 3.28 Jun/19
Italy 0.70 Jun/19
Japan 0.70 Jun/19
Mexico 3.95 Jun/19
Netherlands 2.70 Jun/19
Russia 4.70 Jun/19
Saudi Arabia -1.50 May/19
Singapore 0.90 May/19
South Africa 4.50 May/19
South Korea 0.70 Jun/19
Spain 0.40 Jun/19
Switzerland 0.60 Jun/19
Turkey 15.72 Jun/19
United Kingdom 2.00 Jun/19
United States 1.60 Jun/19


Related

Latest