Food prices in the Philippines rose by 6.5 percent year-on-year in August 2021, after a 4.9 percent gain in the prior month. This was the highest food inflation in six months, boosted by cost of corn (8.7 percent vs 6.4 percent in July); other cereals, flour, cereal preparations (1.8 percent vs 1.7 percent); meat (16.4 percent vs 16 percent); fish (12.4 percent vs 9.3 percent); oils and fats (4.8 percent vs 4.4 percent), vegetables (15.7 percent vs 5 percent); milk, cheese, egg (0.6 percent vs 0.6 percent).; sugar, jam, honey, chocolate & confectionery (1.2 percent vs 1 percent), and food products, N.E.C (1.6 percent vs 0.9 percent). In addition, prices of fruits rebounded (0.1 percent vs -0.6 percent), while cost of rice fell at a softer rate (-0.4 percent vs -1 percent). source: Phillipine Statistics Authority
Food Inflation in Philippines averaged 4.74 percent from 1995 until 2021, reaching an all time high of 17.30 percent in July of 2008 and a record low of -0.90 percent in September of 2019. This page provides the latest reported value for - Philippines Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Food Inflation - values, historical data and charts - was last updated on September of 2021.
Food Inflation in Philippines is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Philippines to stand at 3.00 in 12 months time. In the long-term, the Philippines Food Inflation is projected to trend around 3.00 percent in 2022, according to our econometric models.