The annual inflation rate in the Philippines fell to a six-month low of 4.1% in June 2021 from 4.5% a month earlier and below market estimates of 4.3%, amid a marked slowdown in cost of transport (9.6% vs 16.5% in May). In addition, prices slowed for alcoholic beverages and tobacco (11.2% vs 11.8%), clothing (1.6% vs 1.7%), health (2.9% vs 3.2%), and communication (0.2% vs 0.3%). At the same time, cost of recreation & culture dropped for the 10th straight month (-0.6% vs -0.6%). In contrast, inflation was steady for both furnishing and routine maintenance (at 2.5%) and education (at 1.1%). Meanwhile, cost rose at a faster rate for food & non-alcoholic beverages (4.7% vs 4.6%), housing (2.4% vs 2%), and restaurant & miscellaneous goods and services (3.9% vs 3.8%). The latest reading, however, is slightly above the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose 0.2% in June, after a 0.1% growth in May. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.18 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 August of 2021.

Inflation Rate in Philippines is expected to be 4.60 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 2.60 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.10 4.50 62.80 -2.10 1958 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-06 01:00 AM Mar 4.5% 4.7% 4.8% 4.9%
2021-05-05 01:00 AM Apr 4.5% 4.5% 4.7% 4.7%
2021-06-04 01:00 AM May 4.5% 4.5% 4.5% 4.6%
2021-07-06 01:00 AM Jun 4.1% 4.5% 4.3% 4.6%
2021-08-05 01:00 AM Jul 4.1% 4%
2021-09-07 01:00 AM Aug
2021-10-05 01:00 AM Sep
2021-11-05 01:00 AM Oct


News Stream
Philippines Inflation Rate Slows to 6-Month Low
The annual inflation rate in the Philippines fell to a six-month low of 4.1% in June 2021 from 4.5% a month earlier and below market estimates of 4.3%, amid a marked slowdown in cost of transport (9.6% vs 16.5% in May). In addition, prices slowed for alcoholic beverages and tobacco (11.2% vs 11.8%), clothing (1.6% vs 1.7%), health (2.9% vs 3.2%), and communication (0.2% vs 0.3%). At the same time, cost of recreation & culture dropped for the 10th straight month (-0.6% vs -0.6%). In contrast, inflation was steady for both furnishing and routine maintenance (at 2.5%) and education (at 1.1%). Meanwhile, cost rose at a faster rate for food & non-alcoholic beverages (4.7% vs 4.6%), housing (2.4% vs 2%), and restaurant & miscellaneous goods and services (3.9% vs 3.8%). The latest reading, however, is slightly above the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose 0.2% in June, after a 0.1% growth in May.
2021-07-06
Philippines Inflation Unchanged for 3rd Month
The annual inflation rate in the Philippines was at 4.5% in May 2021, unchanged from the previous two months and in line with market consensus. Inflation was steady for both communication (at 0.3%) and education (at 1.1%), while prices slowed for food and non-alcoholic beverages (4.6% vs 4.8% in April), alcoholic beverages (11.8% vs 12.0%), and transport (16.5% vs 17.9%). At the same time, prices of recreation and culture fell further (-0.6% vs -0.6%). By contrast, cost went up faster for clothing (1.7% vs 1.6%), housing (1.9% vs 1.5%), , furnishing, household equipment (2.5% vs 2.1%), health (3.2% vs 3.1%), and restaurant and miscellaneous goods and services (3.8% vs 3.4%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices edged up 0.1% in May, the first rise in three months, after a 0.1% drop in April.
2021-06-04
Philippines Inflation Rate Below Estimates
The annual inflation rate in the Philippines unexpectedly was at 4.5% in April 2021, unchanged from the previous month and less than market consensus of 4.7%. Inflation was steady for both clothing (at 1.6%) and education (at 1.1%). Prices eased for food and non-alcoholic beverages (4.8% vs 5.8% in March), alcoholic beverages (12.0% vs 12.1%). Prices rose faster for housing (1.5% vs 0.9%), transport (17.9% vs 13.8%), furnishing (2.1% vs 1.9%), health (3.1% vs 2.9%), communication (0.3% vs 0.2%), and restaurant and miscellaneous goods and services (3.4% vs 3.1%). By contrast, prices of recreation fell further (-0.6% vs -0.6%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices dropped 0.1%, the second straight month of fall, after a 0.2% fall in March.
2021-05-05
Philippines Inflation Rate Below Forecasts in March
The annual inflation rate in the Philippines fell to 4.5% in March 2021 from a 26-month high of 4.7% a month earlier, less than market consensus of 4.8%. Prices eased for food and non-alcoholic beverages (5.8% vs 6.7% in February), alcoholic beverages (12.1% vs 12.2%), furnishing (1.9% vs 2.4%), communication (0.2% vs 0.3%), and restaurant and miscellaneous goods and services (3.1% vs 3.2%). In addition, cost of recreation fell further (-0.6% vs -0.7%). At the same time, inflation was steady for clothing (at 1.6%), housing (at 0.9%), health (at 2.9%), and education (at 1.1%), while transport cost went up faster (13.8% vs 10.4%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices dropped 0.2%, the first fall in 7 months, and after a 0.2% rise in February.
2021-04-06

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.