The annual inflation rate in the Philippines unexpectedly edged down to 4.8 percent in September 2021 from August's 32-month high of 4.9 percent and compared with market consensus of 5.1 percent. Cost rose at a slower pace for transport (5.5 percent vs 8.4 prcent in August), food & non-alcoholic beverages (6.4 percent vs 6.5 percent), and education (1.2 percent vs 1.4 percent). At the same time, inflation was unchanged for clothing (at 2.1 percent), furnishing and household maintenance (at 2.8 percent), health (at 3.2 percent), and communication (at 0.3 percent). Meantime, prices went up faster for alcoholic beverages & tobacco (10.5 percent vs 10.2 percent), housing (4.3 percent vs 3.7 percent), restaurant & miscellaneous goods and services (4.2 percent vs 4.1 percent), and recreation & culture (1.2 percent vs 0.9 percent). The latest reading stayed beyond the central bank's target of 2 to 4 percent. On a monthly basis, consumer prices were flat after gaining 0.6 percent in August. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.16 percent from 1958 until 2021, 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 October of 2021.

Inflation Rate in Philippines is expected to be 3.90 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 2.50 percent in 2022, according to our econometric models.

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Philippines Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-07 01:00 AM Aug 4.9% 4% 4.4% 4%
2021-10-05 01:00 AM Sep 4.8% 4.9% 5.1% 5%
2021-11-05 01:00 AM Oct 4.8%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Philippines Inflation Rate Unexpectedly Eases
The annual inflation rate in the Philippines unexpectedly edged down to 4.8 percent in September 2021 from August's 32-month high of 4.9 percent and compared with market consensus of 5.1 percent. Cost rose at a slower pace for transport (5.5 percent vs 8.4 prcent in August), food & non-alcoholic beverages (6.4 percent vs 6.5 percent), and education (1.2 percent vs 1.4 percent). At the same time, inflation was unchanged for clothing (at 2.1 percent), furnishing and household maintenance (at 2.8 percent), health (at 3.2 percent), and communication (at 0.3 percent). Meantime, prices went up faster for alcoholic beverages & tobacco (10.5 percent vs 10.2 percent), housing (4.3 percent vs 3.7 percent), restaurant & miscellaneous goods and services (4.2 percent vs 4.1 percent), and recreation & culture (1.2 percent vs 0.9 percent). The latest reading stayed beyond the central bank's target of 2 to 4 percent. On a monthly basis, consumer prices were flat after gaining 0.6 percent in August.
2021-10-05
Philippines Inflation Rate at 32-Month High
The annual inflation rate in the Philippines rose to 4.9 percent in August 2021 from 4.0 percent a month earlier and above market consensus of 4.4 percent. This was the highest figure since December 2018, as consumption strengthened following an acceleration in COVID-19 vaccinations. Main upward pressure came from food & non-alcoholic beverages (6.5% vs 4.9% in July), alcoholic beverages & tobacco (10.3% vs 10.2%), clothing (1.8% vs 1.7%), housing (3.1% vs 2.6%), furnishing and household maintenance (2.5% vs 2.3%), health (3.1% vs 3.1%), transport (7.2% vs 7%), communication (0.3% vs 0.3%), education (1.1% vs 1.1%), and restaurant & miscellaneous goods and services (3.8% vs 3.6%). In addition, cost of recreation & culture rebounded (0.5% vs -0.7%). The latest reading is beyond the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose by 0.6% in August, the most in seven months, after a 0.4% gain in July.
2021-09-07
Philippines Inflation Rate Slows to 7-Month Low
The annual inflation rate in the Philippines edged down to a seven-month low of 4.0 percent in July 2021 from 4.1 percent a month earlier and compared with market consensus of 3.9 percent, amid a further slowdown in cost of transport (7% vs 9.6% in June). In addition, prices slowed for alcoholic beverages and tobacco (10.2% vs 11.2%), furnishing and routine maintenance (2.3% vs 2.5%), and restaurant & miscellaneous goods and services (3.6% vs 3.9%). In addition, cost of recreation & culture fell for the 11th straight month (-0.7% vs -0.6%). In contrast, inflation was steady for education (at 1.1%) while accelerated for clothing (1.7% vs 1.6%), health (3.1% vs 2.9%), and communication (0.3% vs 0.2%). Also, prices went up faster for both food & non-alcoholic beverages (4.9% vs 4.7%) and housing (2.6% vs 2.4%). The latest reading is within the central bank's target of 2 to 4%. On a monthly basis, consumer prices rose by 0.4% in July, the most in six months, after a 0.2% gain in June.
2021-08-05

Philippines Last Unit Reference Previous Highest Lowest
Inflation Rate 4.80 percent Sep/21 4.90 62.80 -2.10
Inflation Rate Mom 0.00 percent Sep/21 0.60 8.80 -4.50
Core Inflation Rate 3.30 percent Sep/21 3.30 7.25 1.40


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.