Food prices in the Philippines increased by 4.9% yoy in May 2022, the most since last September, after a 3.8 percent gain in the previous month. Main upward pressure largely came from cost of fish (5.2% vs 5.0% in April), milk, cheese, egg (1.5% vs 1.1%), rice (1.5% vs 1.6%), corn (24.4% vs 27.1%), meat (5.4% vs 4.2%), vegetables (15.2% vs 9.2%), flour, bread and other bakery products, pasta products, and other cereals (4.8% vs 4.1%), oils and fats (13.6% vs 11.7%), sugar, jam, honey, chocolate & confectionery (8.7% vs 7.3%), and ready-made food and other food products, N.E.C (3.5% vs 2.9%). At the same time, cost of fruits fell at a slower rate (-2.4% vs -4.6%). The Philippines Statistics Agency changed the base year for the CPI to 2018 from 2012 starting in January. Food and non-alcoholic remain the biggest commodity group in the rebased CPI basket, accounting for a 37.75% weighting. source: Philippine Statistics Authority
Food Inflation in Philippines averaged 4.74 percent from 1995 until 2021, reaching an all time high of 17.30 percent in July of 2008 and a record low of -0.90 percent in September of 2019. This page provides the latest reported value for - Philippines Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Food Inflation - values, historical data and charts - was last updated on June of 2022.
Food Inflation in Philippines is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Food Inflation is projected to trend around 3.00 percent in 2022, according to our econometric models.