Philippines Inflation Rate at 5-Month High


Philippines annual inflation rate unexpectedly rose to 1.1 percent in November of 2015 from 0.4 percent in the previous month and above market expectations. It is the highest figure since June, mainly due to a faster increase in cost of food and non-alcoholic beverages and transport while cost of housing and utilities decline at a slower pace.

Year-on-year, prices rose for: alcoholic beverages and tobacco (+3.9 percent in November from +3.7 percent in October); clothing and footwear (+2.3 percent from +2.2 percent); furnishing, household equipment and routine maintenance (+1.6 percent from +1.5 percent); health (+1.8 percent from +1.7 percent); transport (+0.6 percent from +0.1percent); recreation and culture (+1.0 percent from +0.9 percent) and restaurant and miscellaneous goods and services (+1.4 percent from +1.2 percent). Prices of  heavily-weighted food and non-alcoholic beverages also increased 1.7 percent from a 0.7 percent rise in the previous month. In contrast, prices declined for housing, water, electricity, gas and other fuels (-1.2 percent from -2.1 percent). while prices remained unchanged for communication, cost was steady for education (+3.6 percent). 

From January to November 2015, inflation was 1.4 percent, below the central bank's target range of 2.0 percent to 4.0 percent for this year.

Core inflation was recorded at 1.8 percent year-on-year in November, up from 1.5 percent in October.

On a monthly basis, consumer prices increased by 0.8 percent, following a  0.1 percent rise in September. It is the highest figure since January. Prices rose for : food and non-alcoholic beverages (+1.0 percent); alcoholic beverages and tobacco (+0.9 percent); clothing and footwear (+0.3 percent); housing, water, electricity, gas and other fuels (+0.1 percent); recreation and culture (+0.2 percent) and restaurant and miscellaneous goods and services (+0.3 percent). While prices steady for health (+0.2 percent), cost remained unchanged for communication and education.

Philippines Inflation Rate at 5-Month High


PSA | Rida Husna | rida@tradingeconomics.com
12/4/2015 10:54:07 AM