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.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.30 2.40 62.80 -2.10 1958 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-07 01:00 AM Jun 2.5% 2.1% 2.2% 2.1%
2020-08-05 01:00 AM Jul 2.7% 2.5% 2.5% 2.7%
2020-09-04 01:00 AM Aug 2.4% 2.7% 2.8% 3.0%
2020-10-06 01:00 AM Sep 2.3% 2.4% 2.4% 2.5%
2020-11-05 01:00 AM Oct 2.3% 2.4%
2020-12-04 01:00 AM Nov 2.3%


News Stream
Philippines Inflation Slows to 4-Month Low
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.
2020-10-06
Philippines Inflation Rate Slows to 3-Month Low
The annual inflation rate in the Philippines unexpectedly fell to 2.4% in August 2020 from 2.7% in the prior month and compared with market consensus of 2.8%. This was the lowest fifure since May, amid sluggish demand due to the COVID-19 pandemic. Cost eased for alcoholic beverages & tobacco (17.7% vs 19.3%); food (1.8% vs 2.4%); clothing (1.9% vs 2.2%); education (0.1% vs 0.5%); and miscellaneous goods and services (2.3% vs 2.5%). In addition, prices of recreation and culture dropped (-0.1% vs 1.1%). Meantime, inflation was steady for transport (at 6.3%); health (at 2.8%), and communication (at 0.3%); while little-changed for both housing & utilities (0.9% vs 0.8%); and furnishing, household, routine maintenance (3.9% vs 4%). On a monthly basis, consumer prices fell by 0.2%, the first drop in four months, after a 0.5% rise in July.
2020-09-04
Philippines Inflation Rate Hits 6-Month High
The annual inflation rate in the Philippines unexpectedly was at 2.7 percent in July 2020, compared with market consensus and June's figure of 2.5 percent. This was the highest inflation rate since January, as the economy emerged from COVID-19 restriction measures. Main upward pressure came from transport (6.3% vs 2.4% in June); alcoholic beverages & tobacco (19.3% vs 18.5%); food (2.4% vs 2.7%); housing & utilities (0.8% vs 0.3%); health (2.8% vs 2.8%) and miscellaneous goods and services (2.5% vs 2.3%). On a monthly basis, consumer prices rose 0.5% in July, the same as in June.
2020-08-05
Philippines Inflation Rate at 3-Month High of 2.5% in June
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 following relaxed COVID-19 measures, with transport prices rebounding (2.3% vs -5.6% in May) and cost of housing & utilities rising faster (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.
2020-07-07

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.