Philippines Inflation Rate Up to 2-Year High in December

In December of 2013, Philippines inflation rate accelerated for the fourth consecutive month to 4.1 percent, the highest rate since December of 2011, as all commodity prices recorded higher annual increases except communication, recreation and culture and education.

Year-on-year, food prices climbed 5.0 percent in December, up from 4.0 percent in November. Faster annual rates were registered in all the food groups except in oils and fats, which retained its negative annual change. 

Prices of alcoholic beverages and tobacco recorded the highest annual increase and (30.9 percent). Cost of housing, water, electricity, gas and other fuels rose 3.5 percent; clothing and footwear increased 3.1 percent and health prices surged 2.8 percent. Transport cost rose 1.2 percent. 

From November to December, prices accelerated 0.7 percent, up from 0.4 percent in the previous period.  This was mainly due to the 0.8 percent growth in the heavily-weighted food and non-alcoholic beverages index. Moreover, add-ons in alcoholic beverages and tobacco and health indices were higher at 0.5 percent and 0.4 percent, respectively.  

Philippines Inflation Rate Up to 2-Year High in December

National Statistics Office | Joana Taborda |
1/7/2014 9:26:28 AM