The Philippines' annual inflation rate eased to 3.0 percent in April of 2019 from 3.3 percent in the previous month and matching market expectations. It was the lowest inflation rate since December 2017, mainly due to a slowdown in cost of both food and housing. On a monthly basis, consumer prices rose by 0.2 percent in April, after a 0.1 percent gain in the previous three months and marking the fourth straight month of rise. Inflation Rate in Philippines averaged 8.37 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 2.60 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 3.90 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
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-05 01:00 AM Inflation Rate YoY 4.4% 5.1% 4.5% 4.7%
2019-03-05 01:00 AM Inflation Rate YoY 3.8% 4.4% 4% 4.2%
2019-04-05 01:00 AM Inflation Rate YoY 3.3% 3.8% 3.5% 3.4%
2019-05-07 01:00 AM Inflation Rate YoY 3.0% 3.3% 3% 3.1%
2019-06-05 01:00 AM Inflation Rate YoY 3.0% 3% 3.3%
2019-07-05 01:00 AM Inflation Rate YoY 2.6%
2019-08-06 01:00 AM Inflation Rate YoY 2.8%



Philippines April Inflation Rate Slows to 16-Month Low of 3%

The Philippines' annual inflation rate eased to 3.0 percent in April of 2019 from 3.3 percent in the previous month and matching market expectations. It was the lowest inflation rate since December 2017, mainly due to a slowdown in cost of both food and housing.

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 3.0 percent in April, slowing from a 3.4 percent rise in March and reaching the lowest food inflation in 17 months. In addition, cost rose at a softer rate for alcoholic beverages and tobacco (9.9 percent vs 10.8 percent); clothing and footwear (2.4 percent vs 2.5 percent); housing, water, electricity, gas and other fuels (3.2 percent vs 3.4 percent); health (3.7 percent vs 3.9 percent); furnishing, household equipment and routine maintenance (3.2 percent vs 3.4 percent); and restaurants and miscellaneous goods and services (3.5 percent vs 3.7 percent). Also, cost of education continued to fall (-3.8 percent, the same as in March). In contrast, inflation was steady for recreation and culture (at 3.1 percent), while it quickened for transport (3.8 percent vs 3.3 percent) and communication (0.4 percent vs 0.3 percent).

On a monthly basis, consumer prices rose by 0.2 percent in April, after a 0.1 percent gain in the previous three months and marking the fourth straight month of rise. Cost went up for: food and non-alcoholic beverages (0.1 percent); alcoholic beverages and tobacco (0.5 percent); clothing and footwear (0.2 percent); housing, water, electricity, gas and other fuels (0.1 percent); furnishing, household equipment and routine maintenance (0.1 percent); health (0.3 percent); transport (1.2 percent); recreation and culture (0.2 percent); and restaurants and miscellaneous goods and services (0.2 percent). Conversely, cost of education fell (-0.2 percent).


PSA l Rida Husna | rida@tradingeconomics.com
5/7/2019 1:32:59 PM



Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 3.00 3.30 62.80 -2.10 percent [+]
Inflation Rate Mom 0.20 0.10 9.00 -4.80 percent [+]
Consumer Price Index CPI 119.60 119.30 119.80 1.00 Index Points [+]
Core Consumer Prices 118.50 118.10 118.50 59.24 Index Points [+]
Core Inflation Rate 3.40 3.50 7.25 1.40 percent [+]
GDP Deflator 186.39 198.26 198.26 12.87 Index Points [+]
Producer Prices 137.90 137.90 180.70 81.10 Index Points [+]
Producer Prices Change 3.60 2.60 17.50 -10.00 percent [+]
Food Inflation 3.00 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 113.70 113.30 113.70 97.90 Index Points [+]
CPI Transportation 107.20 105.90 108.80 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.30 62.80 -2.10 1958 - 2019 percent Monthly




Country Last Previous
Argentina 55.80 Apr/19
Australia 1.30 Mar/19
Brazil 4.94 Apr/19
Canada 2.00 Apr/19
China 2.50 Apr/19
Euro Area 1.70 Apr/19
France 1.30 Apr/19
Germany 2.00 Apr/19
India 2.92 Apr/19
Indonesia 2.83 Apr/19
Italy 1.10 Apr/19
Japan 0.90 Apr/19
Mexico 4.41 Apr/19
Netherlands 2.90 Apr/19
Russia 5.20 Apr/19
Saudi Arabia -1.90 Apr/19
Singapore 0.80 Apr/19
South Africa 4.40 Apr/19
South Korea 0.60 Apr/19
Spain 1.50 Apr/19
Switzerland 0.70 Apr/19
Turkey 19.50 Apr/19
United Kingdom 2.10 Apr/19
United States 2.00 Apr/19


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