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Philippines Inflation Rate at 22-Month High in December
The annual inflation rate in the Philippines rose to 3.5 percent in December 2020 from 3.3 percent in November. This was the highest reading since February 2019, and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.8 percent vs 4.3 percent in November); transport (8.3 percent vs 7.9 percent); housing (0.5 percent vs 0.8 percent); alcoholic beverages (12.2 percent vs 12.3 percent); clothing (1.6 percent vs 1.6 percent); furnishing (3.3 percent vs 3.5 percent); health (2.6 percent vs 2.4 percent); communication (0.2 percent vs 0.3 percent); education (1.1 percent vs 1.1 percent); and restaurant and miscellaneous goods and services (2.5 percent vs 2.2 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent).On a monthly basis, consumer prices rose by 0.9 percent, after a 1.1 percent gain in November.
Published on 2021-01-05

Philippines Inflation Rate Hits 20-Month High
The annual inflation rate in the Philippines rose to 3.3 percent in November 2020 from 2.5 percent in October. This was the highest reading since March 2019 after typhoons ravaged the country and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.3 percent vs 2.1 percent in October); alcoholic beverages (12.3 percent vs 11.3 percent); clothing (1.6 percent vs 1.7 percent); housing (0.8 percent vs 0.9 percent); furnishing (3.5 percent vs 3.7 percent); health (2.4 percent vs 2.7 percent); transport (7.6 percent vs 7.9 percent); communication (0.3 percent vs 0.4 percent); education (1.1 percent vs 1.2 percent); and restaurant and miscellaneous goods and services (2.2 percent vs 2.4 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent). On a monthly basis, consumer prices rose by 1.1 percent, the highest since February 2011, after a 0.3 percent gain in October.
Published on 2020-12-04

Philippines Inflation Rate at 3-Month High in October
The annual inflation rate in the Philippines rose to a three-month high of 2.5 percent in October 2020 from 2.3 percent a month earlier, as the nation reopened further its economy following the COVID-19 crisis. Main upward pressure came from food and non-alcoholic beverages (2.1 percent vs 1.5 percent in September); alcoholic beverages and tobacco (11.3 percent vs 12.9 percent); clothing (1.7 percent vs 1.8 percent); housing (0.9 percent vs 1.2 percent); furnishing and routine maintenance (3.7 percent vs 3.7 percent); health (2.7 percent vs 2.8 percent); transport (7.9 percent vs 8.3 percent); communication (0.4 percent vs 0.4 percent); education (1.2 percent vs 1 percent); and restaurant and miscellaneous goods and services (2.4 percent vs 2.3 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.5 percent). On a monthly basis, consumer prices rose by 0.3 percent, also the highest in three months, after a 0.1 percent gain in September.
Published on 2020-11-05

Philippines Inflation Slows to 4-Month Low
The annual inflation rate in the Philippines was at 2.3% in September 2020, compared with market consensus and August's figure of 2.4%. This was the lowest reading since May, with some regions in the country relaunching COVID-19 restriction measures following a rise in virus cases. Prices slowed for food and non-alcoholic beverages (1.5% vs 1.8% in August), alcoholic beverages and tobacco (12.9% vs 17.7%), clothing (1.8% vs 1.9%), and furnishing, routine maintenance (3.7% vs 3.9%). In addition, cost of recreation and culture fell faster (-0.5% vs -0.1%). On the other hand, inflation accelerated for housing (1.2% vs 0.9%), transportation (8.3% vs 6.3 %), communication (0.4% vs 0.3%), and education (0.9% vs 0.1%), while was stable for both health (at 2.8%) and restaurant and miscellaneous goods and services (at 2.3%). On a monthly basis, consumer prices rose 0.1% in September, after a 0.2% fall in August.
Published on 2020-10-06

Philippines Inflation Rate Slows to 3-Month Low
The annual inflation rate in the Philippines unexpectedly fell to 2.4% in August 2020 from 2.7% in the prior month and compared with market consensus of 2.8%. This was the lowest fifure since May, amid sluggish demand due to the COVID-19 pandemic. Cost eased for alcoholic beverages & tobacco (17.7% vs 19.3%); food (1.8% vs 2.4%); clothing (1.9% vs 2.2%); education (0.1% vs 0.5%); and miscellaneous goods and services (2.3% vs 2.5%). In addition, prices of recreation and culture dropped (-0.1% vs 1.1%). Meantime, inflation was steady for transport (at 6.3%); health (at 2.8%), and communication (at 0.3%); while little-changed for both housing & utilities (0.9% vs 0.8%); and furnishing, household, routine maintenance (3.9% vs 4%). On a monthly basis, consumer prices fell by 0.2%, the first drop in four months, after a 0.5% rise in July.
Published on 2020-09-04

Philippines Inflation Rate Hits 6-Month High
The annual inflation rate in the Philippines unexpectedly was at 2.7 percent in July 2020, compared with market consensus and June's figure of 2.5 percent. This was the highest inflation rate since January, as the economy emerged from COVID-19 restriction measures. Main upward pressure came from transport (6.3% vs 2.4% in June); alcoholic beverages & tobacco (19.3% vs 18.5%); food (2.4% vs 2.7%); housing & utilities (0.8% vs 0.3%); health (2.8% vs 2.8%) and miscellaneous goods and services (2.5% vs 2.3%). On a monthly basis, consumer prices rose 0.5% in July, the same as in June.
Published on 2020-08-05

Philippines Inflation Rate at 3-Month High of 2.5% in June
The annual inflation rate in the Philippines rose to 2.5 percent in June 2020 from 2.1 percent in the previous month and above market consensus of 2.2 percent. This was the highest inflation rate since March following relaxed COVID-19 measures, with transport prices rebounding (2.3% vs -5.6% in May) and cost of housing & utilities rising faster (0.4% vs 0.2%). Additional upward pressure also came from food (2.7% vs 2.9%),alcoholic beverages & tobacco (18.5% vs 18%), clothing & footwear (2.4% vs 2.4%), furnishing, household equipment and routine maintenance (4.1% vs 4.1%), recreation & culture (1.2% vs 1.4%), health (2.8% vs 2.8%), communication (0.4% vs 0.3%), restaurant and miscellaneous goods and services (2.3% vs 2.4%), and education (1.6% vs 4.7%). On a monthly basis, consumer prices rose 0.5 percent in June, the most since January, after a 0.1 percent in May.
Published on 2020-07-07

Philippines Inflation Rate at 6-Month Low of 2.1% in May
The annual inflation rate in the Philippines edged down to 2.1 percent in May 2020 from 2.2 percent in the previous month and matching market consensus. This was the lowest inflation rate since November last year, reflecting weaker economic activity due to the coronavirus outbreak, with transport prices falling further on the back of lower oil prices (-5.6% vs -6.2% in April). In addition, cost slowed for food (2.9% vs 3.4%), clothing & footwear (2.4% vs 2.6%), furnishing, household equipment and routine maintenance (4.1% vs 4.2%), and recreation & culture (1.4% vs 1.6%); while was little-changed for alcoholic beverages & tobacco (18% vs 17.9%). At the same time, inflation was steady for housing & utilities (at 0.2%), health (at 2.8%), communication (at 0.3%), restaurant and miscellaneous goods and services (at 2.4%), and education (at 4.7%). On a monthly basis, consumer prices rose 0.1 percent, after a 0.1 percent in April.
Published on 2020-06-05

Philippines Inflation Rate at 5-Month Low
The annual inflation rate in the Philippines fell to 2.2 percent in April 2020 from 2.5 percent in the previous month and compared with market consensus of 2.1 percent. This was the lowest inflation rate since November last year, reflecting weaker economic activity due to the coronavirus outbreak, with transport prices falling much faster on the back of lower oil prices (-6.1% vs -1.8%). In addition, cost slowed for alcoholic beverages & tobacco (17.9% vs 18%); clothing & footwear (2.6% vs 2.7%); housing & utilities (0.3% vs 1.1%), health (2.8% vs 2.9%), communication (0.3% vs 0.5%), and restaurant and miscellaneous goods and services (2.4% vs 2.6%). Meanwhile, inflation was unchanged for furnishing, household equipment and routine maintenance (at 4.2%), recreation & culture (at 1.6%), and education (at 4.7%). At the same time, food prices rose 3.4%, the most in 11 months, after a 2.6% gain in March. On a monthly basis, consumer prices fell 0.1 percent, the same as in March.
Published on 2020-05-05

Philippines March Inflation Rate Softens to 2.5%
The annual inflation rate in the Philippines was at 2.5 percent in March 2020, little-changed from 2.6 percent in the previous month and compared with market consensus of 2.2 percent. Transport prices were the main drag on inflation (-1.8% vs 1.8% in February), amid lower global oil prices due to the novel coronavirus. Meantime, prices slowed for housing & utilities (1.1% vs 1.8%) and alcoholic beverages & tobacco (18% vs 18.2%), while inflation remained steady for clothing & footwear (at 2.7%); health (at 2.9%); education (at 4.7%) and restaurants & miscellaneous goods & services (at 2.6%). On the other hand, costs were higher for food & non-alcoholic beverages (2.6% vs 2.1%); furnishing, household equipment and routine maintenance (4.2% vs 3.5%); communication (0.5% vs 0.4%) and recreation and culture (1.6% vs 1.5%). On a monthly basis, consumer prices fell 0.1 percent, after a 0.2 percent gain in March.
Published on 2020-04-07

Philippines Inflation Rate Unexpectedly Slows
The annual inflation rate in the Philippines unexpectedly fell to 2.6 percent in February 2020 from the previous month's eighth-month high of 2.9 percent and missing market consensus of 3 percent. Prices rose less for food & non-alcoholic beverages (2.1% vs 2.2% in January), alcoholic beverages and tobacco (18.2% vs 19.2%), housing & utilities (1.7% vs 2.5%), and transport (1.8% vs 3%). Meanwhile, inflation was unchanged for clothing and footwear (at 2.7%), health (at 2.9%), communication (at 0.4%), recreation and culture (at 1.5%), education (at 4.7%) and restaurants and miscellaneous goods & services (at 2.6%). At the same time, cost of furnishing & routine maintenance increased faster (3.5% vs 3.1%). On a monthly basis, consumer prices fell 0.2 percent, after a 0.6 percent gain in January.
Published on 2020-03-05

Philippines Inflation Rate Hits 8-Month High in January
The annual inflation rate in the Philippines rose to 2.9 percent in January 2020 from 2.5 percent in the previous month and above market expectations of 2.8 percent. It was the highest inflation rate since May last year, as prices advanced further for food & non-alcoholic beverages (2.2% vs 1.7% in December), reflecting disruptions caused by the Taal volcano eruption and lingering effects of typhoons on crops; housing & utilities (2.5% vs 1.9%); transport (3% vs 2.2%) and alcoholic beverages & tobacco (19.2% vs 18.4%), after the implementation on January 1st of an excise tax hike on alcohol, tobacco and fuels. Meanwhile, cost of restaurants and miscellaneous goods & services slowed (2.6% vs 2.7%). Also, inflation was steady for furnishing & routine maintenance (at 3.1%); health (at 2.9%); and communication (at 0.4%). On a monthly basis, consumer prices rose 0.6 percent, after a 0.7 percent gain in December.
Published on 2020-02-05

Philippines Inflation Rate at 6-Month High of 2.5%
The Philippines' annual inflation rate increased to 2.5 percent in December 2019 from 1.3 percent in the previous month and beating market estimates of 2.1 percent. This was the highest inflation rate since June, driven by prices of food & non-alcoholic beverages (1.7% vs flat reading in November), mainly reflecting seasonal effects of higher demand during the Christmas season and the impact of recent typhoons on crops. Additional upward pressure came from cost of transport (2.2% vs -2.4%), namely domestic pump prices (17.1%); housing, water, electricity, gas & other fuels (1.9% vs 1.2%); furnishings (3.1% vs 2.8%) and alcoholic beverages & tobacco (18.4% 17.6%). Meanwhile, inflation was steady for education (at 4.6%); recreation & culture (at 1.4%); restaurant, miscellaneous goods & services (at 2.7%) and communication (at 0.3%). On a monthly basis, consumer prices rose by 0.7 percent in December, the highest since September 2018, after a 0.25 percent gain in November.
Published on 2020-01-07

Philippines Inflation Rate Matches Estimates
The Philippines' annual inflation rate increased to 1.3 percent in November 2019 from 0.8 percent in the previous month and in line with market estimates. This was the highest inflation rate since August, mainly due to a faster rise in prices of housing while food prices were unchanged and transport prices decline further. On a monthly basis, consumer prices rose by 0.25 percent in October, after a 0.2 percent rise in October, and matching market consensus.
Published on 2019-12-05

Philippines Inflation Rate at 3-1/2-Year Low
The Philippines' annual inflation rate edged down to 0.8 percent in October 2019 from 0.9 percent in the previous month and in line with market estimates. This was the lowest inflation rate since April 2016, as both prices of food and transport declined further amid a softer rise in cost of housing. On a monthly basis, consumer prices rose by 0.2 percent in October, the same as in September.
Published on 2019-11-05

Philippines Inflation Rate at Over 3-Year Low
The Philippines' annual inflation rate fell to 0.9 percent in September 2019 from 1.7 percent in the previous month and below market expectations of 1.1 percent. It was the lowest inflation since May of 2016, as both prices of food and transport cost fell while housing inflation slowed.
Published on 2019-10-04

Philippines Inflation Rate at Near 3-Year Low of 1.7%
The Philippines' annual inflation rate fell to a near three-year low of 1.7 percent in August 2019 from 2.4 percent in the previous month but above market expectations of 1.8 percent. Food inflation reached its lowest in nearly four years while housing inflation slowed and transport prices fell. On a monthly basis, consumer prices rose by 0.1 percent in August, easing from a 0.2 percent gain in July.
Published on 2019-09-05

Philippines Inflation Rate Hits 2-Year Low of 2.4%
The Philippines' annual inflation rate fell to a two-year low of 2.4 percent in July 2019 from 2.7 percent in the previous month and in line with market expectations. Food inflation reached its lowest in nearly three years and there was a noticeable slowdown in prices of both housing and transport. On a monthly basis, consumer prices rose by 0.2 percent in July, after a 0.1 percent gain in June.
Published on 2019-08-06

Philippines Inflation Rate at 22-Month Low of 2.7%
The Philippines' annual inflation rate fell to a 22-month low of 2.7 percent in June 2019 from 3.2 percent in the previous month and below market expectations of 2.9 percent. Food inflation dropped to its lowest since January 2017, and there was a slowdown in cost of both housing and transport. On a monthly basis, consumer prices rose by 0.2 percent in June, easing from a 0.3 percent gain in May.
Published on 2019-07-05

Philippines May Inflation Rate Edges Up to 3.2%
The Philippines' annual inflation rate rose to 3.2 percent in May of 2019 from a 16 month-low of 3.0 percent in the previous month and above market expectations of 2.9 percent. It was the first time that inflation accelerated since last September, as both cost of food and housing & utilities increased faster. On a monthly basis, consumer prices rose by 0.3 percent in May, after a 0.2 percent gain in the previous month and marking the fifth straight month of rise.
Published on 2019-06-05