Philippines Inflation Rate at 21-Month Low in April


Philippines annual inflation rate eased to 2.2 percent in April of 2015 from 2.4 percent in March. It is the lowest rate since August 2013, as cost of housing and utilities and transport declined further and prices of food and non-alcoholic beverages slowed.

Year-on-year, downward price pressures came from: housing, water, electricity, gas and other fuels (-0.5 percent in April from -0.2 percent drop in March), transport (-0.2 percent from -0.2 percent) and communication (-0.1 percent from -0.1 percent). In contrast, upward price pressures only came from furnishing, household equipment and routine maintenance (+2.3 percent from +2.1 percent).

Prices moderated for: heavily-weighted food and non-alcoholic beverages (+3.9 percent in April from +4.3 percent in the previous month); clothing and footwear (+2.8 percent from +3.0 percent); health (+2.3 percent from +2.5 percent) and restaurant and miscellaneous goods and services (+1.2 percent from +1.5 percent). Cost remained steady for: alcoholic beverages and tobacco (+3.9 percent), recreation and culture (+1.1 percent) and education (+5.1 percent).

Core inflation was recorded at 2.5 percent year-on-year in April, slowing from a 2.7 percent increase in the preceding month.

On a monthly basis, consumer prices accelerated to 0.2 percent, following a 0.1 percent drop in March. Prices increased for food and non-alcoholic beverages (+0.1 percent); housing, water, electricity, gas and other fuels (+0.5 percent); furnishing, household equipment and routine maintenance (+0.2 percent) and recreation and culture (+0.1 percent). Cost moderated for alcoholic beverages and tobacco (+0.2 percent), health (+0.0 percent) and transport (+0.0 percent). Prices remained unchanged for clothing and footwear (+0.1 percent), communication (+0.0 percent), education (+0.0 percent) and restaurant and miscellaneous goods and services (+0.1 percent).

Philippines Inflation Rate at 21-Month Low in April


National Statistics Office l Rida Husna l rida@tradingeconomics.com
5/5/2015 11:26:26 AM