The annual inflation rate in the Philippines edged down to a seven-month low of 4 percent in July 2021 from 4.1 percent a monthearlier and compared with market consensus of 3.9 percent, amid a further slowdown in cost of transport (7% vs 9.6% in June). In addition, prices slowed for alcoholic beverages and tobacco (10.2% vs 11.2%), furnishing and routine maintenance (2.3% vs 2.5%), and restaurant & miscellaneous goods and services (3.6% vs 3.9%). In addition, cost of recreation & culture fell for the 11th straight month (-0.7% vs -0.6%). In contrast, inflation was steady for education (at 1.1%) while accelerated for clothing (1.7% vs 1.6%), health (3.1% vs 2.9%), and communication (0.3% vs 0.2%). Also, prices went up faster for both food & non-alcoholic beverages (4.9% vs 4.7%) and housing (2.6% vs 2.4%). The latest reading is within the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose by 0.4% in July, after a 0.2% gain in June. source: Philippine Statistics Authority
Inflation Rate in Philippines averaged 8.17 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 August of 2021.
Inflation Rate in Philippines is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.