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. source: Philippine Statistics Authority
Inflation Rate in Philippines averaged 8.23 percent from 1958 until 2020, reaching an all time high of 62.80 percent in September of 1984 and a record low of -2.10 percent in January of 1959. This page provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Inflation Rate in Philippines is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Philippines to stand at 2.20 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.