Food prices in the Philippines increased by 4.6 percent year-on-year in May 2021, easing from a 4.8 percent gain in the prior month. This was the lowest food inflation since November 2020, weighed down by declines in cost of rice (-0.8 percent vs -0.3 percent in April), fruits (-1.1 percent vs 0.3 percent), and vegetables (-6.6 percent vs -2.6 percent). At the same time, inflation was steady for other cereals, flour, cereal preparations (1.8 percent vs 1.8 percent), meat (22.1 percent vs 22.1 percent), and milk, cheese, egg (1.4 percent vs 1.4 percent). Meanwhile, cost went up faster for corn (5.1 percent vs 3.1 percent), fish (7.8 percent vs 6 percent), oils and fats (4 percent vs 3.9 percent), sugar, jam, honey, chocolate & confectionery (0.9 percent vs 0.3 percent), and food products, N.E.C (1.2 percent vs 0.5 percent). source: Phillipine Statistics Authority
Food Inflation in Philippines averaged 4.74 percent from 1995 until 2021, reaching an all time high of 17.30 percent in July of 2008 and a record low of -0.90 percent in September of 2019. This page provides the latest reported value for - Philippines Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Food Inflation - values, historical data and charts - was last updated on June of 2021.
Food Inflation in Philippines is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Philippines to stand at 3.00 in 12 months time. In the long-term, the Philippines Food Inflation is projected to trend around 3.00 percent in 2022, according to our econometric models.