Philippines Inflation Rate Steady at 1.1% in April


Consumer prices in Philippines rose 1.1 percent year-on-year in April of 2016, the same as in March and slightly below market consensus of a 1.2 percent increase. Food inflation was steady while cost of housing & utilities dropped at the same pace as in a month earlier.

Year-on-year, inflation accelerated for: alcoholic beverages and tobacco (+5.2 percent in April from +5.0 percent in March), clothing and footwear (+1.9 percent from +1.8 percent); furnishing, households equipment and routine maintenance (+1.4 percent from +1.5 percent), health (+2.2 percent from +1.9 percent), recreation and culture (+1.3 percent from +1.1 percent) and restaurant and miscellaneous goods and services (+2.1 percent from +1.9 percent). In contrast, cost declined for housing, water, electricity, gas and other fuels (-1.5 percent from -1.5 percent) and remained unchanged for transport. The inflation rate was steady for communication (+0.1 percent) and education (+3.6 percent). Prices of heavily-weighted food and non-alcoholic beverages rose 1.6 percent, the same pace as in March.

Core consumer prices rose 1.5 percent from a year earlier in April, unchanged from the preceding month. For 2016, the country's central bank targeted inflation between 2.0 to 4.0 percent. 

On a monthly basis, consumer prices rose 0.2 percent, following a 0.1 percent rise in March. Prices increased for: food and non-alcoholic beverages (+0.1 percent), alcoholic beverages and tobacco (+0.3 percent), clothing and footwear (+0.2 percent); furnishing, households equipment and routine maintenance (+0.2 percent), health (+0.3 percent), recreation and culture (+0.3 percent) and restaurant and miscellaneous goods and services (+0.2 percent). Cost remained unchanged for: transport, communication and education.


Philippines Inflation Rate Steady at 1.1% in April


PSA l Rida Husna | rida@tradingeconomics.com
5/5/2016 11:12:40 AM