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.

Inflation Rate in Philippines averaged 8.29 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. source: Philippine Statistics Authority

Inflation Rate in Philippines is expected to be 2.50 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 3.50 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 3.50 percent in 2021 and 3.30 percent in 2022, according to our econometric models.


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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.90 2.50 62.80 -2.10 1958 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-05 01:00 AM Oct 0.8% 0.9% 0.8% 1.0%
2019-12-05 01:00 AM Nov 1.3% 0.8% 1.3% 1.2%
2020-01-07 01:00 AM Dec 2.5% 1.3% 2.1% 2.2%
2020-02-05 01:00 AM Jan 2.9% 2.5% 2.8% 2.6%
2020-03-05 01:00 AM Feb 2.9% 2.0%
2020-04-07 01:00 AM Mar 2.5%
2020-05-05 01:00 AM Apr
2020-06-05 01:00 AM May


News Stream
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.
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.
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.
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.
2019-11-05

Philippines Inflation Rate
In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent.