Food prices in the Philippines rose by 1.5 percent year-on-year in September 2020, after a 1.8 percent gain in the prior month. This was the lowest food inflation since November last year, as cost eased for other cereals, flour, cereal preparation (2.3 percent vs 2.4 percent in August); meat (2.9 percent vs 4 percent); milk, cheese, eggs (2.4 percent vs 2.9 percent); fruits (6.6 percent vs 6.5 percent); and food products, N.E.C. (5.1 percent vs 5.2 percent). In addition, prices fell further for rice (-0.6 percent vs -1.1 percent); corn (-0.6 percent vs -0.6 percent); and vegetables (-2.7 percent vs -0.9 percent).
Food Inflation in Philippines averaged 4.85 percent from 1995 until 2019, reaching an all time high of 17.30 percent in July of 2008 and a record low of -0.90 percent in September of 2019. This page provides the latest reported value for - Philippines Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Food Inflation - values, historical data and charts - was last updated on October of 2020. source: Phillipine Statistics Authority
Food Inflation in Philippines is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Philippines to stand at 1.50 in 12 months time. In the long-term, the Philippines Food Inflation is projected to trend around 3.00 percent in 2021, according to our econometric models.