The retail price index in the Philippines increased by 1.6 percent year-on-year in April 2019, following a 1.3 percent gain in the previous month. Cost rose faster for both food (1.7 percent vs 0.8 percent in March); and mineral fuels, lubricants and related material (5.1 percent vs 4.3 percent). On the other hand, prices slowed for beverages and tobacco (3.1 percent vs 3.6 percent); crude materials (4 percent vs 4.4 percent); manufactured goods (1.5 percent vs 1.7 percent); and miscellaneous manufactured articles (0.9 percent vs 1 percent) while inflation was steady for chemicals (at 1 percent, the same as in March); and machinery and transport equipment (at 1 percent). On a monthly basis, the retail price index went up by 0.2 percent in April, after rising 0.1 percent in the prior month. Retail Sales Yoy in Philippines averaged 7.43 percent from 1980 until 2019, reaching an all time high of 79.50 percent in September of 1984 and a record low of -3.13 percent in November of 1999.
Retail Sales Yoy in Philippines is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales Yoy in Philippines to stand at 2.50 in 12 months time. In the long-term, the Philippines Retail Price Index YoY is projected to trend around 4.00 percent in 2020, according to our econometric models.