Philippines Inflation Rate at-21 Month High of 2.5%


Consumer prices in Philippines rose 2.5 percent year-on-year in November 2016, following a 2.3 percent increase in October and above market expectations of 2.2 percent. It was the highest inflation rate since February 2015, as prices increased at a faster pace for housing and utilities and transport. Core inflation rate rose to 2.4 percent, compared to 2.3 percent in the prior month. On a monthly basis, consumer prices went up 0.6 percent, the biggest growth since July 2014.

Cost rose at a faster pace for: housing, water, electricity, gas and other fuels (+1.3 percent from + 0.9 percent); transport (+0.5 percent from +0.2 percent) and alcoholic beverages and tobacco (+6.5 percent from +6.1 percent).

Inflation was steady for: furnishing households equipment and routine maintenance (+2.4 percent); health (+2.6); communication (+0.1 percent) and education (+1.8 percent).

Prices increased at a slower pace for: heavily-weighted food and non-alcoholic beverages (+3.3 percent from +3.4 percent); clothing and footwear (+2.6 percent from +2.8 percent); recreation and culture (+1.6 percent from +1.8 percent) and restaurant and miscellaneous goods and services (+2.1 percent from +2.4 percent). 

Core consumer prices went up 2.4 percent from a year earlier, faster than a 2.3 percent rise in the prior month. It was the highest inflation rate since April 2015.

On a monthly basis, consumer prices jumped 0.6 percent, after a 0.2 percent gain in October. It was the highest monthly inflation rate since July 2014 driven by: food and non-alcoholic beverages (+0.1 percent); alcoholic beverages and tobacco (+1.3 percent); clothing and footwear (+1.3 percent); housing, water, electricity, gas and other fuels (+0.4 percent); furnishing, households equipment and routine maintenance (+0.1 percent); health (+0.1 percent); transport (+0.2 percent); recreation and culture (+0.1 percent) and education (+0.1 percent). 

Philippines Inflation Rate at-21 Month High of 2.5%


Statistic of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
12/6/2016 11:56:34 AM