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.