Philippines Inflation Rate  1958-2017 | Data | Chart | Calendar | Forecast

Consumer prices in the Philippines increased by 3.1 percent year-on-year in August of 2017 following a 2.8 percent gain in the previous month and above market expectations of a 3 percent increase. It was the highest inflation rate since May this year as prices for most commodity groups grew at a faster pace. Core consumer prices grew to a 4 month high of 3 percent from 2.1 percent in July. On a monthly basis, consumer prices edged up 0.3 percent, the same as in a month earlier and beating estimates of a 0.2 percent gain. Inflation Rate in Philippines averaged 8.53 percent from 1958 until 2017, 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.

Philippines Inflation Rate
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Philippines Inflation Rate at 3-Month High of 3.1% in August


Consumer prices in the Philippines were recorded at 3.1 percent year-on-year in August of 2017 compared to 2.8 percent in the previous month and above market expectations of 3 percent. It was the highest inflation rate since May this year as prices for most commodity groups grew at a faster pace.

In August, price increased more than in a month earlier for: food & non-alcoholic beverages (3.5 percent from 3.3 percent); alcoholic beverages & tobacco (6.3 percent from 6.2 percent); housing, water electricity, gas & other fuels (2.8 percent from 2.2 percent); transport (4.4 percent from 3.8 percent); communication (0.3 percent from 0.2 percent); recreation & culture (1.4 percent from 1.2 percent); and restaurant & miscellaneous goods & services (2.2 percent from 2.1 percent). In contrast, costs went up at a slower pace for: clothing & footwear (1.9 percent from 2.1 percent); and furnishing, household equipment & routine maintenance of the house (1.8 percent from 2 percent). Inflation was steady for health (2.4 percent) and education (2.3 percent).

Core consumer price inflation grew to a 4-month high of 3 percent from 2.1 percent in July.

On a monthly basis, consumer prices edged up 0.3 percent, the same as in a month earlier and beating estimates of a 0.2 percent gain. Prices increased at a faster rate for: alcoholic beverages & tobacco (0.4 percent from 0.3 percent); housing, water, electricity, gas & other fuels (0.5 percent from 0.3 percent); communication (0.1 percent from a flat reading); and recreation & culture (0.3 percent from 0.2 percent). Meanwhile prices rebounded for food & non-alcoholic beverages (0.4 percent from -0.1 percent). Prices moderated for: clothing & footwear (0.1 percent from 0.2 percent); health (0.1 percent from 0.3 percent); transport (0.3 percent from 1.1 percent); and restaurant & miscellaneous goods & services (0.2 percent from 0.6 percent).

August's inflation rate remains well within the Central Bank of Philippines', Bangko Sentral ng Pilipinas, target of 2 to 4 percent.

PSA | Charles | charles@tradingeconomics.com
9/5/2017 3:06:57 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-05 01:00 AM Inflation Rate YoY 2.8% 3.1% 3% 2.9%
2017-08-04 01:00 AM Inflation Rate YoY 2.8% 2.7% 2.8% 2.9%
2017-09-05 01:00 AM Inflation Rate YoY 3.1% 2.8% 3% 3%
2017-10-05 01:00 AM Inflation Rate YoY 3.1% 3.2%
2017-11-07 01:00 AM Inflation Rate YoY 3.4%
2017-12-05 01:00 AM Inflation Rate YoY 3.2%


Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 3.10 2.80 62.80 -2.10 percent [+]
Inflation Rate Mom 0.30 0.30 9.00 -4.60 percent [+]
Consumer Price Index CPI 148.80 148.30 148.80 1.30 Index Points [+]
Core Consumer Prices 144.70 143.30 144.70 75.20 Index Points [+]
Core Inflation Rate 3.00 2.10 7.25 1.40 percent [+]
GDP Deflator 177.82 177.96 186.59 12.87 Index Points [+]
Producer Prices 132.30 132.40 180.70 81.10 Index Points [+]
Producer Prices Change -1.00 -2.10 17.50 -10.00 percent [+]
Export Prices 92.36 103.71 133.52 8.57 Price Index [+]
CPI Housing Utilities 132.60 132.00 133.50 43.60 Index Points [+]
CPI Transportation 133.00 132.60 133.00 35.10 Index Points [+]
Food Inflation 3.50 3.30 17.29 -0.78 percent [+]
Import Prices 112.73 116.65 138.30 11.46 Price Index [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 2.80 62.80 -2.10 1958 - 2017 percent Monthly




inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.46 Aug/17
Canada 1.40 Aug/17
China 1.80 Aug/17
Euro Area 1.50 Aug/17
France 0.90 Aug/17
Germany 1.80 Aug/17
India 3.36 Aug/17
Indonesia 3.82 Aug/17
Italy 1.20 Aug/17
Japan 0.40 Jul/17
Mexico 6.66 Aug/17
Netherlands 1.40 Aug/17
Russia 3.30 Aug/17
South Korea 2.60 Aug/17
Spain 1.60 Aug/17
Switzerland 0.50 Aug/17
Turkey 10.68 Aug/17
United Kingdom 2.90 Aug/17
United States 1.90 Aug/17