Philippines Inflation Rate Eases to 1.8% in August
Consumer prices in Philippines rose 1.8 percent year-on-year in August of 2016, following a 1.9 percent increase in the previous two months while market expected a 2.0 percent rise. Prices of food and non-alcoholic beverages rose at a slower pace while cost of housing and utilities went up.
9/6/2016 3:21:10 AM
Year-on-year, prices of heavily-weighted food and non-alcoholic beverages increased by 2.4 percent (from + 2.7 percent rise in July). Cost was also higher for: alcoholic beverages and tobacco (+6.0 percent from +5.8 percent), clothing and footwear (+2.6 percent from +2.5 percent); housing, water, electricity, gas and other fuels (+0.2 percent from -0.2 percent); furnishing, households equipment and routine maintenance (+2.2 percent from +2.0 percent), health (+2.7 from +2.4 percent), transport (+0.1 percent from -0.1 percent), communication (+0.1 percent from +0.1 percent), recreation and culture (+1.7 percent from +1.8 percent), education (+1.8 percent from +1.8 percent) and restaurant and miscellaneous goods and services (+2.4 percent from +2.3 percent).
Core consumer prices rose 2.0 percent from a year earlier, compared to 1.9 percent in the preceding month. It was the highest figure since December 2015.
On a monthly basis, consumer prices rose 0.1 percent, the same pace as in July. 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 (+0.3 percent), health (+0.2 percent) and restaurant and miscellaneous goods and services (+0.2 percent). While prices declined for housing, water, electricity, gas and other fuels (-0.1 percent) and transport (-0.3 percent), cost remained unchanged for communication, recreation and culture and education.