Philippines Inflation Rate 1958-2015 | Data | Chart | Calendar | Forecast

The inflation rate in Philippines was recorded at 2.70 percent in December of 2014. Inflation Rate in Philippines averaged 8.86 percent from 1958 until 2014, 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. Inflation Rate in Philippines is reported by the National Statistics Office of Philippines.

      Forecast    
Philippines Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
2.70 3.70 62.80 -2.10 1958 - 2014 percent Monthly
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 - Philippines Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines Inflation Rate - was last refreshed on Monday, January 26, 2015.


Philippines Inflation Slows to 16-Month Low in December


Philippines annual inflation rate eased to 2.7 percent in December of 2014 from 3.7 percent in November due to lower cost of housing, water, electricity, other fuels and transport. It is the lowest rate since September 2013.

Year-on-year, prices slowed for heavily-weighted food and non-alcoholic beverages (+5.5 percent in December from 6.5 percent in November); alcoholic beverages and tobacco (+4.0 percent from +4.1 percent), routine maintenance and household equipment (+2.6 percent from +2.7 percent); health (+3.1 percent from +3.5 percent) and recreation and culture (+1.4 percent from +1.5 percent).

Meanwhile, prices declined for housing, water, electricity, gas and other fuels (-1.6 percent from 0.3 percent) and transport (-1.0 percent from 0.2 percent). Prices remained unchanged for clothing and footwear (+3.5 percent), communication (+0.1 percent) and recreation, education (+5.1 percent) and restaurant and miscellaneous goods and services (+1.8 percent). 
The growth of  food index alone decelerated to 5.8 percent in December from 6.7 percent a month earlier, and down from 5.0 percent increase in the same month a year ago. Cost of rice, fish, milk, cheese and egg, oils and fats and sugar rose at a slower pace while prices of vegetables declined.
Core inflation also decelerated further to 2.3 percent year-on-year in December, from a 2.7 percent increase a month earlier.
In 2014, the Philippines's central bank targeted inflation to be between 3 to 5 percent.
On a monthly basis, consumer prices declined 0.2 percent in December from 0.1 percent drop in November. Decreases were noted in prices of housing, water, electricity, gas and other fuels; transport and food and non-alcoholic beverages. Meanwhile, prices were stable for health, communication, recreation and culture, education and restaurant and miscellaneous goods and services. In contrast, prices  were higher for clothing and footwear and routine maintenance and household equipment.

National Statistics Office l Rida Husna l rida.husna@tradingeconomics.com
1/6/2015 12:22:06 PM


Recent Releases

Philippines Inflation Rate Eases in November
Philippines annual inflation rate decelerated to 3.7 percent in November of 2014 from 4.3 percent in October, mainly due to lower cost of food and non-alcoholic beverages; housing, water, electricity, gas and other fuels. It is the lowest rate since December 2013. Published on 2014-12-05

Philippines Inflation Rate Edges Down in October
Philippines annual inflation rate slowed to 4.3 percent in October of 2014 from 4.4 percent in September, mainly due to lower cost of food and non-alcoholic beverages, clothing and miscellaneous services. Core inflation also decelerated to 3.2 percent year-on-year from a 3.4 percent increase in the previous month. Published on 2014-11-05


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-05 01:00 AM
Inflation Rate YoY  Oct
4.3% 4.4% 4.2% 4.32%
2014-12-05 01:00 AM
Inflation Rate YoY  Nov
3.7% 4.3% 4% 4.28%
2015-01-06 01:00 AM
Inflation Rate YoY  Dec
2.7% 3.7% 3.0% 3.38%
2015-02-05 01:00 AM
Inflation Rate YoY  Jan
2.7% 2.31%
2015-03-05 01:00 AM
Inflation Rate YoY  Feb
2.1%
2015-04-06 02:00 AM
Inflation Rate YoY  Mar
2.02%


Philippines Prices Last Previous Highest Lowest Unit
Inflation Rate 2.70 3.70 62.80 -2.10 percent [+]
Inflation Rate Mom -0.20 -0.10 9.00 -4.60 percent [+]
Consumer Price Index CPI 140.50 140.80 141.00 1.30 Index Points [+]
Core Inflation Rate 2.34 2.73 7.25 1.86 percent [+]
Core Consumer Prices 135.70 135.70 135.70 75.20 Index Points [+]
GDP Deflator 177.13 171.03 179.42 12.86 Index Points [+]
Producer Prices 150.90 151.10 180.70 81.10 Index Points [+]
Producer Prices Change -0.60 -0.30 17.50 -10.00 percent [+]
Food Inflation 5.53 6.46 17.29 -0.78 percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 2.30 Aug/14 3.00 23.90 -1.30 percent [+]
Brazil 6.41 Dec/14 6.56 6821.31 1.65 percent [+]
Canada 1.50 Dec/14 2.00 21.60 -17.80 percent [+]
China 1.50 Dec/14 1.40 28.40 -2.20 percent [+]
Euro Area -0.20 Dec/14 0.30 5.00 -0.70 percent [+]
France 0.10 Dec/14 0.30 18.80 -0.70 percent [+]
Germany 0.20 Dec/14 0.57 11.54 -7.62 percent [+]
India 5.00 Dec/14 4.38 11.16 4.38 percent [+]
Indonesia 8.36 Dec/14 6.23 82.40 -1.17 percent [+]
Italy 0.00 Dec/14 0.19 25.64 -2.44 percent [+]
Japan 2.40 Nov/14 2.90 25.00 -2.52 percent [+]
Mexico 4.08 Dec/14 4.17 179.73 2.91 percent [+]
Netherlands 0.70 Dec/14 1.00 11.19 -1.30 percent [+]
Russia 11.40 Dec/14 9.10 2333.30 3.60 percent [+]
South Korea 0.80 Dec/14 1.00 32.50 0.20 percent [+]
Spain -1.00 Dec/14 -0.40 28.43 -1.37 percent [+]
Switzerland -0.30 Dec/14 -0.10 11.92 -1.37 percent [+]
Turkey 8.17 Dec/14 9.15 138.71 -4.01 percent [+]
United Kingdom 0.50 Dec/14 1.00 8.50 0.50 percent [+]
United States 0.80 Dec/14 1.30 23.70 -15.80 percent [+]