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 July of 2022.
Inflation Rate in Philippines is expected to be 5.70 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 4.40 percent in 2023 and 3.30 percent in 2024, according to our econometric models.