The annual inflation rate in the Philippines was at 6.3% in August 2022, matching market forecasts while remaining not far from July's near 4-year high of 6.4%. Upward price pressures mainly came from cost of food (6.3% vs 6.9% in July), transport (14.6% vs 18.1%), housing (6.8% vs 5.7%), alcoholic beverages (9.3% vs 8.5%), clothing (2.8% vs 2.5%), household maintenance (3.4% 3.1%), health (2.5% vs 2.4%), communication (0.4% vs 0.5%), restaurant (4.2% vs 3.4%), recreation (2.4% vs 2.2%), and miscellaneous ( 3.3% vs 2.8%). Meantime, cost of financial services was flat for the 5th straight month after gaining 43.3% in the first three months of the year. The latest print marked the first slowdown in consumer prices in six months and was within the central bank's projected range of 5.9 to 6.7% for the month. On a monthly basis, consumer prices gained 0.4% in August, the least in three months, below consensus of 0.5% and following a 0.8% rise in July. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.10 percent from 1958 until 2022, 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 2022.

Inflation Rate in Philippines is expected to be 6.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Inflation Rate is projected to trend around 4.80 percent in 2023 and 4.30 percent in 2024, according to our econometric models.

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Philippines Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-05 01:00 AM Jul 6.4% 6.1% 6.2% 6.3%
2022-09-06 01:00 AM Aug 6.3% 6.4% 6.3% 6.4%
2022-10-05 01:00 AM Sep 6.3% 6.7% 6.6%


Related Last Previous Unit Reference
Inflation Rate 6.30 6.40 percent Aug 2022
Inflation Rate MoM 0.40 0.80 percent Aug 2022
Core Inflation Rate 4.60 3.90 percent Aug 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
6.30 6.40 62.80 -2.10 1958 - 2022 percent Monthly

News Stream
Philippines Inflation Rate Stays Elevated
The annual inflation rate in the Philippines was at 6.3% in August 2022, matching market forecasts while remaining not far from July's near 4-year high of 6.4%. Upward price pressures mainly came from cost of food (6.3% vs 6.9% in July), transport (14.6% vs 18.1%), housing (6.8% vs 5.7%), alcoholic beverages (9.3% vs 8.5%), clothing (2.8% vs 2.5%), household maintenance (3.4% 3.1%), health (2.5% vs 2.4%), communication (0.4% vs 0.5%), restaurant (4.2% vs 3.4%), recreation (2.4% vs 2.2%), and miscellaneous ( 3.3% vs 2.8%). Meantime, cost of financial services was flat for the 5th straight month after gaining 43.3% in the first three months of the year. The latest print marked the first slowdown in consumer prices in six months and was within the central bank's projected range of 5.9 to 6.7% for the month. On a monthly basis, consumer prices gained 0.4% in August, the least in three months, below consensus of 0.5% and following a 0.8% rise in July.
2022-09-06
Philippines Inflation Rate Highest in Near 4 Years
The annual inflation rate in the Philippines rose to 6.4% in July 2022 from 6.1% in June, pointing to the highest level since October 2018 and exceeding market consensus of 6.2%. Prices of food & non-alcoholic beverages went up the most in 44 months (6.9% vs 6.0% in June), while additional price pressures came from cost of transport (18.1% vs 17.1%), housing (5.7% vs 6.6%), alcoholic beverages (8.5% vs 7.8%), clothing (2.5% vs 2.2%), household maintenance (3.1% vs 2.9%), health (2.4% vs 2.6%), communication (0.5% vs 0.5%), restaurant (3.4% vs 2.8%), recreation (2.2% vs 1.9%), and miscellaneous ( 2.8% vs 2.6%). Meantime, cost of financial services was flat for the 4th straight month after gaining 43.3% in the first three months of the year. The latest print was at the top end of the central bank's projected range of 5.6 to 6.4% for the month. On a monthly basis, consumer prices gained 0.8% in July, after a 0.9% rise in June which was the most in 5 months and above forecasts of 0.5%.
2022-08-05
Philippines Inflation Rate Highest in Near 4 Years
The annual inflation rate in the Philippines climbed to 6.1% in June 2022 from 5.4% in May, pointing to the highest level since October 2018 and exceeding market consensus of 5.9%. Prices of food & non-alcoholic beverages increased the most in 16 months (6.0% vs 4.9% in May), while additional price pressures came from cost of alcoholic beverages (7.8% vs 6.8%), housing (6.6% vs 6.5%), clothing (2.2% vs 2.1%), household maintenance (2.9% vs 2.5%), health (2.6% vs 2.4%), transport (17.1% vs 14.6%), information & communication (0.5% vs 0.7%), restaurant (2.8% vs 2.8%), recreation (1.9% vs 1.7%), and miscellaneous ( 2.6% vs 2.5%). Meantime, cost of financial services were flat for the third straight month after gaining 43.3% in the first three months of the year. The latest print was within the central bank's projected range of 5.7 to 6.5% for the month. On a monthly basis, consumer prices gained 0.9%, the most in 5 months, after a 0.4% rise in May and above forecasts of 0.8%.
2022-07-05