Philippines Inflation Rate Steady at 1.9% YoY in July


Consumer prices in Philippines rose 1.9 percent year-on-year in July of 2016, the same pace as in June and below market expectations of 2.1 percent. Prices of food and non-alcoholic beverages rose at a slower pace while cost of housing and utilities declined less than in a month earlier.

Year-on-year, prices of heavily-weighted food and non-alcoholic beverages went up 2.7 percent from 2.9 percent in June. Cost also increased for: alcoholic beverages and tobacco (+5.8 percent from +5.7 percent), clothing and footwear (+2.5 percent from +2.5 percent); furnishing, households equipment and routine maintenance (+2.0 percent from +1.8 percent), health (+2.4 from +2.5 percent), communication (+0.1 percent from +0.2 percent), recreation and culture (+1.8 percent from +1.7 percent), education (+1.8 percent from +1.9 percent) and restaurant and miscellaneous goods and services (+2.3 percent from +2.3 percent). In contrast, cost fell for housing, water, electricity, gas and other fuels (-0.2 percent from -0.4 percent) and transport (-0.1 percent from -0.1 percent).

Core consumer prices also rose 1.9 percent from a year earlier, unchanged from the preceding month and in line with consensus.

On a monthly basis, consumer prices rose 0.1 percent, slowing from a 0.4 percent rise in June. It was the lowest inflation rate since March. Prices increased for: food and non-alcoholic beverages (+0.2 percent), alcoholic beverages and tobacco (+0.3 percent), clothing and footwear (+0.2 percent); housing, water, electricity, gas and other fuels (+0.2 percent); furnishing, households equipment and routine maintenance (+0.2 percent), health (+0.3 percent), recreation and culture (+0.2 percent) and restaurant and restaurant and miscellaneous goods and services (+0.2 percent). While cost of transport dropped by 0.2 percent, cost remained unchanged for communication and education.

Philippines Inflation Rate Steady at 1.9% YoY in July


PSA l Rida Husna | rida@tradingeconomics.com
8/5/2016 2:33:00 AM