The annual inflation rate in the Philippines unexpectedly was at 4.5% in April 2021, unchanged from the previous month and less than market consensus of 4.7%. Inflation was steady for both clothing (at 1.6%) and education (at 1.1%). Prices eased for food and non-alcoholic beverages (4.8% vs 5.8% in March), alcoholic beverages (12.0% vs 12.1%). Prices rose faster for housing (1.5% vs 0.9%), transport (17.9% vs 13.8%), furnishing (2.1% vs 1.9%), health (3.1% vs 2.9%), communication (0.3% vs 0.2%), and restaurant and miscellaneous goods and services (3.4% vs 3.1%). By contrast, prices of recreation fell further (-0.6% vs -0.6%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices dropped 0.1%, the second straight month of fall, after a 0.2% fall in March. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.19 percent from 1958 until 2021, 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 May of 2021.

Inflation Rate in Philippines is expected to be 4.30 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 2.30 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 62.80 -2.10 1958 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-02-05 01:00 AM Jan 4.2% 3.5% 3.5% 3.5%
2021-03-05 01:00 AM Feb 4.7% 4.2% 4.7% 4.5%
2021-04-06 01:00 AM Mar 4.5% 4.7% 4.8% 4.9%
2021-05-05 01:00 AM Apr 4.5% 4.5% 4.7% 4.7%
2021-06-04 01:00 AM May 4.5% 4.6%
2021-07-06 01:00 AM Jun
2021-08-05 01:00 AM Jul
2021-09-07 01:00 AM Aug
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Philippines Inflation Rate Below Estimates
The annual inflation rate in the Philippines unexpectedly was at 4.5% in April 2021, unchanged from the previous month and less than market consensus of 4.7%. Inflation was steady for both clothing (at 1.6%) and education (at 1.1%). Prices eased for food and non-alcoholic beverages (4.8% vs 5.8% in March), alcoholic beverages (12.0% vs 12.1%). Prices rose faster for housing (1.5% vs 0.9%), transport (17.9% vs 13.8%), furnishing (2.1% vs 1.9%), health (3.1% vs 2.9%), communication (0.3% vs 0.2%), and restaurant and miscellaneous goods and services (3.4% vs 3.1%). By contrast, prices of recreation fell further (-0.6% vs -0.6%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices dropped 0.1%, the second straight month of fall, after a 0.2% fall in March.
2021-05-05
Philippines Inflation Rate Below Forecasts in March
The annual inflation rate in the Philippines fell to 4.5% in March 2021 from a 26-month high of 4.7% a month earlier, less than market consensus of 4.8%. Prices eased for food and non-alcoholic beverages (5.8% vs 6.7% in February), alcoholic beverages (12.1% vs 12.2%), furnishing (1.9% vs 2.4%), communication (0.2% vs 0.3%), and restaurant and miscellaneous goods and services (3.1% vs 3.2%). In addition, cost of recreation fell further (-0.6% vs -0.7%). At the same time, inflation was steady for clothing (at 1.6%), housing (at 0.9%), health (at 2.9%), and education (at 1.1%), while transport cost went up faster (13.8% vs 10.4%). The latest reading, however, remained above the central bank's target of 2 to 4%. On a monthly basis, consumer prices dropped 0.2%, the first fall in 7 months, and after a 0.2% rise in February.
2021-04-06
Philippines Inflation Rate Hits 26-Month High
The annual inflation rate in the Philippines rose to 4.7% in February 2021 from 4.2% a month earlier, matching market consensus. This was the highest reading since December 2018, above both the central bank's target of 2 to 4%, amid the impact of weather-related supply disruptions. Main upward pressure came from most components: food and non-alcoholic beverages (6.7% vs 6.1% in January); transport (10.4% vs 8.7%); housing (0.9% vs 0.5%); alcoholic beverages (12.2% vs 11.7%); clothing (1.6% vs 1.6%); furnishing (2.4% vs 2.9%); health (2.9% vs 2.5%); communication (0.3% vs 0.2%); education (1.1% vs 1.1%); and restaurant and miscellaneous goods and services (3.2% vs 3%). In contrast, cost of recreation fell further (-0.7% vs -0.7%). On a monthly basis, consumer prices rose 0.2%, the least in five months, after a 1.3% rise in January.
2021-03-05
Philippines Inflation Rate Hits 2-Year High
The annual inflation rate in the Philippines rose to 4.2 percent in January 2021 from 3.5 percent a month earlier. This was the highest reading since January 2019, above both the central bank's target of 2.0 to 4.0 percent and market consensus of 3.5 percent. Main upward pressure came from all components: food and non-alcoholic beverages (6.2 percent vs 4.8 percent in December); transport (8.6 percent vs 8.3 percent); housing (0.4 percent vs 0.4 percent); alcoholic beverages (11.7 percent vs 12.1 percent); clothing (1.6 percent vs 1.6 percent); furnishing (2.9 percent vs 3.3 percent); health (2.6 percent vs 2.6 percent); communication (0.2 percent vs 0.2 percent); education (1.1 percent vs 1.1 percent); and restaurant and miscellaneous goods and services (3.0 percent vs 2.5 percent). In contrast, cost of recreation fell further (-0.7 percent vs -0.6 percent).On a monthly basis, consumer prices rose by 1.3 percent, the most since June 2008.
2021-02-05

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.