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.