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.