Philippines Inflation Rate  1958-2018 | Data | Chart | Calendar | Forecast

The Philippines' annual inflation rate rose to 6.4 percent in August of 2018 from 5.7 percent in the previous month, above market estimates of 5.9 percent. It is the highest reading since March 2009, mainly due to a jump in cost of food and non-alcoholic beverages. On a monthly basis, consumer prices went up 0.9 percent, after a 0.5 percent rise in July. It is the highest inflation rate since August 2012. Inflation Rate in Philippines averaged 8.41 percent from 1958 until 2018, 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 August Inflation Rate at Near 9-1/2 Year High


The Philippines' annual inflation rate rose to 6.4 percent in August of 2018 from 5.7 percent in the previous month, above market estimates of 5.9 percent. It is the highest reading since March 2009, mainly due to a jump in cost of food and non-alcoholic beverages.

Year-on-year, prices of heavily-weighted food and non-alcoholic beverages increased by 8.5 percent year-on-year, following a 7.1 percent in July. It is the highest food inflation since March 2009. In addition, cost rose at a faster rate for: alcoholic beverages and tobacco (21.6 percent from 21.5 percent); furnishing, household equipment and routine maintenance (3.5 percent from 3.3 percent); health (4 percent from 3.7 percent); restaurant & miscellaneous goods and services (4 percent from 3.7 percent) and recreation and culture (2.4 percent from 0.9 percent). On the other hand, inflation slowed for: housing, water, electricity, gas and other fuels (5.5 percent from 5.6 percent); transport (7.8 percent from 7.9 percent); communication (0.4 percent from 0.5 percent). Meantime, inflation was steady for clothing and footwear (at 2.4 percent). 

On a monthly basis, consumer prices went up 0.9 percent, after a 0.5 percent rise in July. Prices increased for: food and non-alcoholic beverages (1.6 percent); alcoholic beverages & tobacco (0.4 percent); clothing and footwear (0.1 percent); housing, water, electricity, gas and other fuels (0.2 percent); furnishing, household equipment and routine maintenance of the house (0.3 percent); health (0.3 percent); transport (0.8 percent); recreation and culture (1.5 percent); and restaurants and miscellaneous goods and services (0.4 percent), and education (0.1 percent). On the other hand, inflation was flat for communication.

In March 2018, Philippine Statistics Authority decided to rebase CPI series to 2012 from 2006 in order to accommodate the economic changes in the country.

The central bank set an inflation target range of between 2 to 4 percent from 2018 to 2020.
 


Philippine Statistics Authority l Chusnul Ch Manan | chusnul@tradingeconomics.com
9/5/2018 11:10:56 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-05 01:00 AM Inflation Rate YoY 5.2% 4.6% 4.8% 4.7%
2018-08-07 01:00 AM Inflation Rate YoY 5.7% 5.2% 5.5% 5%
2018-09-05 02:00 AM Inflation Rate YoY 6.4% 5.7% 5.9% 5.9%
2018-10-05 01:00 AM Inflation Rate YoY 6.4% 6.1%
2018-11-06 01:00 AM Inflation Rate YoY 5.7%
2018-12-05 01:00 AM Inflation Rate YoY 5.3%


Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 6.40 5.70 62.80 -2.10 percent [+]
Inflation Rate Mom 0.90 0.50 9.00 -4.80 percent [+]
Consumer Price Index CPI 118.50 117.40 118.50 1.00 Index Points [+]
Core Consumer Prices 116.10 115.60 116.10 59.24 Index Points [+]
Core Inflation Rate 4.80 4.50 7.25 1.40 percent [+]
GDP Deflator 183.78 182.89 190.70 12.87 Index Points [+]
Producer Prices 133.00 133.70 180.70 81.10 Index Points [+]
Producer Prices Change 0.40 0.90 17.50 -10.00 percent [+]
Food Inflation 8.50 7.10 17.30 -0.80 percent [+]
Import Prices 117.52 117.10 138.30 11.46 Price Index [+]
Export Prices 92.52 104.93 133.52 8.57 Price Index [+]
CPI Housing Utilities 111.40 111.20 111.40 97.90 Index Points [+]
CPI Transportation 106.20 105.40 106.20 91.90 Index Points [+]


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 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.40 5.70 62.80 -2.10 1958 - 2018 percent Monthly




inflation rate by Country
Country Last
Argentina 34.40 Aug/18
Australia 2.10 Jun/18
Brazil 4.19 Aug/18
Canada 3.00 Jul/18
China 2.30 Aug/18
Euro Area 2.00 Aug/18
France 2.30 Aug/18
Germany 2.00 Aug/18
India 3.69 Aug/18
Indonesia 3.20 Aug/18
Italy 1.60 Aug/18
Japan 0.90 Jul/18
Mexico 4.90 Aug/18
Netherlands 2.30 Aug/18
Russia 3.10 Aug/18
Saudi Arabia 2.20 Jul/18
Singapore 0.60 Jul/18
South Africa 4.90 Aug/18
South Korea 1.40 Aug/18
Spain 2.20 Aug/18
Switzerland 1.20 Aug/18
Turkey 17.90 Aug/18
United Kingdom 2.70 Aug/18
United States 2.70 Aug/18


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