The annual inflation rate in the Philippines unexpectedly was at 2.7 percent in July 2020, compared with market consensus and June's figure of 2.5 percent. This was the highest inflation rate since January, as the economy emerged from COVID-19 restriction measures. Main upward pressure came from transport (6.3% vs 2.4% in June); alcoholic beverages & tobacco (19.3% vs 18.5%); food (2.4% vs 2.7%); housing & utilities (0.8% vs 0.3%); health (2.8% vs 2.8%) and miscellaneous goods and services (2.5% vs 2.3%). On a monthly basis, consumer prices rose 0.5% in July, the same as in June.

Inflation Rate in Philippines averaged 8.24 percent from 1958 until 2020, 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 2020. source: Philippine Statistics Authority

Inflation Rate in Philippines is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Philippines to stand at 4.00 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.50 62.80 -2.10 1958 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-05-05 01:00 AM Apr 2.2% 2.5% 2.1% 2.3%
2020-06-05 01:00 AM May 2.1% 2.2% 2.1% 2%
2020-07-07 01:00 AM Jun 2.5% 2.1% 2.2% 2.1%
2020-08-05 01:00 AM Jul 2.7% 2.5% 2.5% 2.7%
2020-09-04 01:00 AM Aug 2.7%
2020-10-06 01:00 AM Sep 2%
2020-11-05 01:00 AM Oct
2020-12-04 01:00 AM Nov


News Stream
Philippines Inflation Rate Hits 6-Month High
The annual inflation rate in the Philippines unexpectedly was at 2.7 percent in July 2020, compared with market consensus and June's figure of 2.5 percent. This was the highest inflation rate since January, as the economy emerged from COVID-19 restriction measures. Main upward pressure came from transport (6.3% vs 2.4% in June); alcoholic beverages & tobacco (19.3% vs 18.5%); food (2.4% vs 2.7%); housing & utilities (0.8% vs 0.3%); health (2.8% vs 2.8%) and miscellaneous goods and services (2.5% vs 2.3%). On a monthly basis, consumer prices rose 0.5% in July, the same as in June.
2020-08-05
Philippines Inflation Rate at 3-Month High of 2.5% in June
The annual inflation rate in the Philippines rose to 2.5 percent in June 2020 from 2.1 percent in the previous month and above market consensus of 2.2 percent. This was the highest inflation rate since March following relaxed COVID-19 measures, with transport prices rebounding (2.3% vs -5.6% in May) and cost of housing & utilities rising faster (0.4% vs 0.2%). Additional upward pressure also came from food (2.7% vs 2.9%),alcoholic beverages & tobacco (18.5% vs 18%), clothing & footwear (2.4% vs 2.4%), furnishing, household equipment and routine maintenance (4.1% vs 4.1%), recreation & culture (1.2% vs 1.4%), health (2.8% vs 2.8%), communication (0.4% vs 0.3%), restaurant and miscellaneous goods and services (2.3% vs 2.4%), and education (1.6% vs 4.7%). On a monthly basis, consumer prices rose 0.5 percent in June, the most since January, after a 0.1 percent in May.
2020-07-07
Philippines Inflation Rate at 6-Month Low of 2.1% in May
The annual inflation rate in the Philippines edged down to 2.1 percent in May 2020 from 2.2 percent in the previous month and matching market consensus. This was the lowest inflation rate since November last year, reflecting weaker economic activity due to the coronavirus outbreak, with transport prices falling further on the back of lower oil prices (-5.6% vs -6.2% in April). In addition, cost slowed for food (2.9% vs 3.4%), clothing & footwear (2.4% vs 2.6%), furnishing, household equipment and routine maintenance (4.1% vs 4.2%), and recreation & culture (1.4% vs 1.6%); while was little-changed for alcoholic beverages & tobacco (18% vs 17.9%). At the same time, inflation was steady for housing & utilities (at 0.2%), health (at 2.8%), communication (at 0.3%), restaurant and miscellaneous goods and services (at 2.4%), and education (at 4.7%). On a monthly basis, consumer prices rose 0.1 percent, after a 0.1 percent in April.
2020-06-05
Philippines Inflation Rate at 5-Month Low
The annual inflation rate in the Philippines fell to 2.2 percent in April 2020 from 2.5 percent in the previous month and compared with market consensus of 2.1 percent. This was the lowest inflation rate since November last year, reflecting weaker economic activity due to the coronavirus outbreak, with transport prices falling much faster on the back of lower oil prices (-6.1% vs -1.8%). In addition, cost slowed for alcoholic beverages & tobacco (17.9% vs 18%); clothing & footwear (2.6% vs 2.7%); housing & utilities (0.3% vs 1.1%), health (2.8% vs 2.9%), communication (0.3% vs 0.5%), and restaurant and miscellaneous goods and services (2.4% vs 2.6%). Meanwhile, inflation was unchanged for furnishing, household equipment and routine maintenance (at 4.2%), recreation & culture (at 1.6%), and education (at 4.7%). At the same time, food prices rose 3.4%, the most in 11 months, after a 2.6% gain in March. On a monthly basis, consumer prices fell 0.1 percent, the same as in March.
2020-05-05

Philippines Inflation Rate
In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent.