Philippines Inflation Rate at 13-Month High


Consumer prices in Philippines rose 1.6 percent year-on-year in May of 2016, compared to a 1.4 percent in April and above market consensus of a 1.4 percent increase. It was the highest inflation rate since May 2015 as prices rose at a faster pace for most categories.

Year-on-year, prices of heavily-weighted food and non-alcoholic beverages stood at 2.3 percent, up from 1.6 percent in April. Cost also accelerated for: alcoholic beverages and tobacco (+5.6 percent from +5.2 percent in April), clothing and footwear (+2.4 percent from +1.9 percent); furnishing, households equipment and routine maintenance (+1.6 percent from +1.4 percent), health (+2.4 percent from +2.2 percent), transport (+0.1 percent after remaining unchanged in a month earlier), communication (+0.2 percent from +0.1 percent), recreation and culture (+1.6 percent from +1.3 percent) and restaurant and miscellaneous goods and services (+2.2 percent from +2.1 percent). Cost was steady for  education (+3.6 percent). 

Core consumer prices rose 1.6 percent from a year earlier in May, up from 1.5 percent in the preceding month. It was the highest figure since February. 

On a monthly basis, consumer prices rose 0.3 percent, following a 0.2 percent rise in April. It was the fastest inflation rate since November 2015. Prices increased for: food and non-alcoholic beverages (+0.6 percent), alcoholic beverages and tobacco (+0.5 percent), clothing and footwear (+0.6 percent); furnishing, households equipment and routine maintenance (+0.3 percent), transport (+0.4 percent), health (+0.3 percent), communication (+0.1 percent), recreation and culture (+0.3 percent) and restaurant and miscellaneous goods and services (+0.1 percent). In contrast, prices declined by 0.2 percent for housing, water, electricity, gas and other fuels. Cost remained unchanged for education.

Philippines Inflation Rate at 13-Month High


PSA l Rida Husna | rida@tradingeconomics.com
6/7/2016 2:55:21 AM