The annual inflation rate in the Philippines rose to 2.5 percent in June 2020 from 2.1 percent in the previous month and above market consensus of 2.2 percent. This was the highest inflation rate since March, amid a rebound in transport prices (2.3% vs -5.6% in May) and a faster rise in cost of housing & utilities (0.4% vs 0.2%). Additional upward pressure also came from food (2.7% vs 2.9%),alcoholic beverages & tobacco (18.5% vs 18%), clothing & footwear (2.4% vs 2.4%), furnishing, household equipment and routine maintenance (4.1% vs 4.1%), recreation & culture (1.2% vs 1.4%), health (2.8% vs 2.8%), communication (0.4% vs 0.3%), restaurant and miscellaneous goods and services (2.3% vs 2.4%), and education (1.6% vs 4.7%). On a monthly basis, consumer prices rose 0.5 percent in June, the most since January, after a 0.1 percent in May.
Inflation Rate in Philippines averaged 8.25 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 July of 2020. source: Philippine Statistics Authority
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 4.00 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.