The retail price index in the Philippines increased by 1.6 percent year-on-year in May 2019, the same pace as in the previous month. Retail prices were unchanged for chemicals (at 1 percent), manufactured goods (at 1.5 percent), and machinery and transport equipment (at 1 percent). Meantime, prices of both food (2.3 percent vs 1.7 percent in April), and crude materials (4.2 percent vs 4 percent) increased further, while cost eased for beverages and tobacco (3 percent vs 3.1 percent), mineral fuels, lubricants and related materials (0.8 percent vs 5.1 percent), and miscellaneous manufactures articles (0.8 percent vs 0.9 percent). On a monthly basis, the retail price index went up by 0.2 percent in May, unchanged from the previous month. Retail Sales Yoy in Philippines averaged 7.42 percent from 1980 until 2019, reaching an all time high of 79.50 percent in September of 1984 and a record low of -3.13 percent in November of 1999.
Retail Sales Yoy in Philippines is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales Yoy in Philippines to stand at 2.60 in 12 months time. In the long-term, the Philippines Retail Price Index YoY is projected to trend around 4.00 percent in 2020, according to our econometric models.