The annual inflation rate in the Philippines fell to a six-month low of 4.1% in June 2021 from 4.5% a month earlier and below market estimates of 4.3%, amid a marked slowdown in cost of transport (9.6% vs 16.5% in May). In addition, prices slowed for alcoholic beverages and tobacco (11.2% vs 11.8%), clothing (1.6% vs 1.7%), health (2.9% vs 3.2%), and communication (0.2% vs 0.3%). At the same time, cost of recreation & culture dropped for the 10th straight month (-0.6% vs -0.6%). In contrast, inflation was steady for both furnishing and routine maintenance (at 2.5%) and education (at 1.1%). Meanwhile, cost rose at a faster rate for food & non-alcoholic beverages (4.7% vs 4.6%), housing (2.4% vs 2%), and restaurant & miscellaneous goods and services (3.9% vs 3.8%). The latest reading, however, is slightly above the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose 0.2% in June, after a 0.1% growth in May. source: Philippine Statistics Authority
Inflation Rate in Philippines averaged 8.18 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 July 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. Looking forward, we estimate Inflation Rate in Philippines to stand at 2.60 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.