Philippines Inflation Rate at 14-Month High


Consumer prices in Philippines rose 1.9 percent year-on-year in June of 2016, compared to a 1.6 percent in May. It was the highest inflation rate since April 2015 as prices of food and non-alcoholic beverages rose at a faster pace while cost of housing and utilities declined much less than in a month earlier.

Year-on-year, prices of heavily-weighted food and non-alcoholic beverages stood at 2.9 percent, up from 2.3 percent in May. Cost also accelerated for: alcoholic beverages and tobacco (+5.7 percent from +5.6 percent), clothing and footwear (+2.5 percent from +2.4 percent); furnishing, households equipment and routine maintenance (+1.8 percent from +1.6 percent), health (+2.5 from +2.4 percent), recreation and culture (+1.7 percent from +1.6 percent) and restaurant and miscellaneous goods and services (+2.3 percent from +2.2 percent). In contrast, cost fell for housing, water, electricity, gas and other fuels (-0.4 percent from -1.2 percent). While cost was steady for communication (+0.2 percent), prices remained unchanged for transport (from +0.1 percent in the preceding month).

Core consumer prices also rose 1.9 percent from a year earlier, up from 1.6 percent in the preceding month. It was the highest figure since December 2015.

On a monthly basis, consumer prices rose 0.4 percent, following a 0.3 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 (+0.3 percent), clothing and footwear (+0.3 percent); housing, water, electricity, gas and other fuels (+0.2 percent); furnishing, households equipment and routine maintenance (+0.3 percent), transport (+0.1 percent), health (+0.2 percent), recreation and culture (+0.4 percent), education (+1.8 percent) and restaurant and restaurant and miscellaneous goods and services (+0.3 percent). Cost remained unchanged for communication.

Philippines Inflation Rate at 14-Month High


PSA l Rida Husna | rida@tradingeconomics.com
7/5/2016 3:34:34 AM