The annual inflation rate in the Philippines climbed to 5.4% in May 2022 from 4.9% in April, pointing to the highest level since November 2018 and matching market consensus. Prices of food & non-alcoholic beverages increased the most in eight months (4.9% vs 3.8% in April), while additional price pressures came from cost of alcoholic beverages (6.8% vs 5.9%), housing (6.5% vs 6.9%), clothing (2.1% vs 2.0%), household maintenance (2.5% vs 2.6%), health (2.4% vs 2.4%), transport (14.6% vs 13.0%), information & communication (0.7% vs 0.7%), restaurant (2.8% vs 2.8%), recreation (1.7% vs 1.6%), and miscellaneous ( 2.5% vs 2.3%). Meantime, cost of financial services were flat for the second straight month after gaining 43.3% in the first three months of the year. The latest print was within the central bank's projected range of 5.0 to 5.8% for the month. On a monthly basis, consumer prices gained 0.4%, the least in 3 months, after a 0.8% gain in April and below forecasts of 0.55%. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.11 percent from 1958 until 2022, 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 June of 2022.

Inflation Rate in Philippines is expected to be 5.00 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 3.00 percent in 2023 and 3.30 percent in 2024, according to our econometric models.

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Philippines Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-05 01:00 AM Apr 4.9% 4% 4.6% 4.7%
2022-06-07 01:00 AM May 5.4% 4.9% 5.4% 5.2%
2022-07-05 01:00 AM Jun 5.4%


Related Last Previous Unit Reference
Inflation Rate 5.40 4.90 percent May 2022
Inflation Rate Mom 0.40 0.80 percent May 2022
Core Inflation Rate 3.00 3.30 percent Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.40 4.90 62.80 -2.10 1958 - 2022 percent Monthly

News Stream
Philippines Inflation Rate Highest in Near 4 Years
The annual inflation rate in the Philippines climbed to 5.4% in May 2022 from 4.9% in April, pointing to the highest level since November 2018 and matching market consensus. Prices of food & non-alcoholic beverages increased the most in eight months (4.9% vs 3.8% in April), while additional price pressures came from cost of alcoholic beverages (6.8% vs 5.9%), housing (6.5% vs 6.9%), clothing (2.1% vs 2.0%), household maintenance (2.5% vs 2.6%), health (2.4% vs 2.4%), transport (14.6% vs 13.0%), information & communication (0.7% vs 0.7%), restaurant (2.8% vs 2.8%), recreation (1.7% vs 1.6%), and miscellaneous ( 2.5% vs 2.3%). Meantime, cost of financial services were flat for the second straight month after gaining 43.3% in the first three months of the year. The latest print was within the central bank's projected range of 5.0 to 5.8% for the month. On a monthly basis, consumer prices gained 0.4%, the least in 3 months, after a 0.8% gain in April and below forecasts of 0.55%.
2022-06-07
Philippines Inflation Rate Hits 40-Month High
The annual inflation rate in the Philippines climbed to 4.9% in April 2022 from 4.0% in March, pointing to the highest level since last December. The latest print was near the upper end of the central bank's projected range of 4.2 to 5% for the month and above its target for 2022 of 2 to 4%. Prices of food & non-alcoholic beverages went up the most in 7 months (3.8% vs 2.6% in March), while additional price pressures came from alcoholic beverages (5.9% vs 4.8%), housing (6.9% vs 6.2%), clothing (2% vs 1.9%), household maintenance (2.6% vs 2.6%), health (2.4% vs 2.5%), transport (13% vs 10.3%), information & communication (0.7% vs 0.7%), restaurant (2.8% vs 3%), recreation (1.6% vs 1.5%), and miscellaneous ( 2.3% vs 2.2%). Cost of financial services were flat after gaining 43.3% in March. On a monthly basis, consumer prices gained 0.8%, the most in 3 months, surpassing forecasts of 0.55%. The PSA said it would start releasing core inflation figures in May using a new 2018 base year.
2022-05-05
Philippines Inflation Rate Hits 5-Month High
The annual inflation rate in the Philippines rose to 4.0% in March 2022 from 3.0% a month earlier, pointing to the highest reading since last October. The latest figure was near the upper end of the central bank's projected range of 3.3 to 4.1% for the month. Cost of food & non-alcoholic beverages went up the most in five months (2.6% vs 1.2% in February), while additional price pressures came from alcoholic beverages & tobacco (4.8% vs 4.7%), housing (6.2$ vs 4.8%), household maintenance (2.6% vs 2.3%), transport (10.3% vs 8.8%), information & communication (0.7% vs 0.6%), restaurant (3% vs 2.8%), clothing (1.9% vs 1.9%), health (2.5% vs 2.7%), and recreation (1.5% vs 1.6%), education (0.6% vs 0.6%), financial services (43.3% vs 43.3%), and miscellaneous ( 2.2%vs 2.2%). The PSA has yet to release core inflation figures calculated using a new 2018 base year. On a monthly basis, consumer prices increased 0.6%, compared with forecasts of 0.63% and after gaining 0.1% in February.
2022-04-05