The Philippines' annual inflation rate fell to a two-year low of 2.4 percent in July 2019 from 2.7 percent in the previous month and in line with market expectations. Food inflation reached its lowest in nearly three years and there was a noticeable slowdown in prices of both housing and transport. On a monthly basis, consumer prices rose by 0.2 percent in July, after a 0.1 percent gain in June. Inflation Rate in Philippines averaged 8.34 percent from 1958 until 2019, 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.

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 4.20 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 3.30 percent in 2020, according to our econometric models.

Philippines Inflation Rate
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2019-05-07 01:00 AM Inflation Rate YoY Apr 3.0% 3.3% 3% 3.1%
2019-06-05 01:00 AM Inflation Rate YoY May 3.2% 3.0% 2.9% 3%
2019-07-05 01:00 AM Inflation Rate YoY Jun 2.7% 3.2% 2.9% 3.1%
2019-08-06 01:00 AM Inflation Rate YoY Jul 2.4% 2.7% 2.4% 2.8%
2019-09-05 02:00 AM Inflation Rate YoY Aug 2.4% 3%
2019-10-04 01:00 AM Inflation Rate YoY Sep 2%
2019-11-05 01:00 AM Inflation Rate YoY Oct 2.2%



Philippines Inflation Rate Hits 2-Year Low of 2.4%

The Philippines' annual inflation rate fell to a two-year low of 2.4 percent in July 2019 from 2.7 percent in the previous month and in line with market expectations. Food inflation reached its lowest in nearly three years and there was a noticeable slowdown in prices of both housing and transport.

The central bank set an inflation target range of between 2 to 4 percent from 2018 to 2020.

Year-on-year, prices of food and non-alcoholic beverages increased by 1.9 percent in July, slowing markedly from a 2.7 percent rise in June. It was the lowest food inflation since September 2016, amid falls in prices of corn (-3 percent), rise (-2.9 percent), bread and cereals (-1.5 percent), and sugar, jam, honey (-1.4 percent); while prices rose further for food products, n.e.c (6.7 percent); fruits (6.6 percent); fish (3.8 percent); meat (3.5 percent); vegetables (3.4 percent);ther cereals, flours, cereal preparation, bread, pasta and other bakery products (3.3 percent); milk, cheese and egg (2.4 percent); and oils and fats (2.5 percent).

In addition, prices eased for and alcoholic beverages and tobacco (9.3 percent vs 9.5 percent in June); housing, water, electricity, gas and other fuels (2.2 percent vs 3 percent); health (3.2 percent vs 3.7 percent); transport (0.7 percent vs 1.6 percent); and furnishing, household equipment and routine maintenance (2.9 percent vs 3.1 percent). At the same time, inflation was steady for communication (at 0.3 percent), recreation and culture (at 3.2 percent), and restaurant and miscellaneous goods and services (at 3.3 percent), while cost of education rebounded sharply (4.2 percent vs -4.5 percent). 

On a monthly basis, consumer prices rose by 0.2 percent in July, after a 0.1 percent gain in June. Prices advanced for alcoholic beverages and tobacco (0.8 percent); clothing and footwear (0.4 percent); furnishing, household equipment and routine maintenance (0.3 percent); health (0.4 percent); recreation and culture (0.1 percent); education (2.1 percent), and restaurants & miscellaneous goods and services (0.3 percent). Meantime, cost was flat for both food and non-alcoholic beverages; and housing, water, electricity, gas and other fuels, while, cost of transport dropped (-0.3 percent).


PSA l Rida Husna | rida@tradingeconomics.com
8/6/2019 2:08:29 AM



Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 2.40 2.70 62.80 -2.10 percent [+]
Inflation Rate Mom 0.20 0.20 9.00 -4.80 percent [+]
Consumer Price Index CPI 120.20 119.90 120.20 1.00 Index Points [+]
Core Consumer Prices 119.30 119.00 119.30 59.24 Index Points [+]
Core Inflation Rate 3.20 3.30 7.25 1.40 percent [+]
GDP Deflator 186.30 186.39 198.26 12.87 Index Points [+]
Producer Prices 135.30 135.80 180.70 81.10 Index Points [+]
Producer Prices Change 1.00 0.90 17.50 -10.00 percent [+]
Food Inflation 1.90 2.70 17.30 -0.80 percent [+]
Import Prices 116.44 119.16 138.30 11.46 Price Index [+]
Export Prices 91.45 101.91 133.52 8.57 Price Index [+]
CPI Housing Utilities 113.70 113.50 113.70 97.90 Index Points [+]
CPI Transportation 106.10 106.40 108.80 91.90 Index Points [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.70 62.80 -2.10 1958 - 2019 percent Monthly




Country Last Previous
Argentina 54.40 Jul/19
Australia 1.60 Jun/19
Brazil 3.22 Jul/19
Canada 2.00 Jun/19
China 2.80 Jul/19
Euro Area 1.10 Jul/19
France 1.10 Jul/19
Germany 1.70 Jul/19
India 3.15 Jul/19
Indonesia 3.32 Jul/19
Italy 0.40 Jul/19
Japan 0.70 Jun/19
Mexico 3.78 Jul/19
Netherlands 2.50 Jul/19
Russia 4.60 Jul/19
Saudi Arabia -1.40 Jun/19
Singapore 0.60 Jun/19
South Africa 4.50 Jun/19
South Korea 0.60 Jul/19
Spain 0.50 Jul/19
Switzerland 0.30 Jul/19
Turkey 16.65 Jul/19
United Kingdom 2.10 Jul/19
United States 1.80 Jul/19


Related

Latest