Philippines Inflation Rate at 2-Year High of 2.6%
Consumer prices in Philippines rose 2.6 percent year-on-year in December 2016, following a 2.5 percent increase in November. It was the highest inflation rate since December 2014, mainly driven by a faster increase in prices of food and non-alcoholic beverages and transport while inflation was steady for housing.
Cost rose at a faster pace for: food and non-alcoholic beverages (+3.6 percent from +3.3 percent in November), transport (+1.9 percent from +0.5 percent), and recreation and culture (+1.7 percent from +1.6 percent). Price increased at a slower pace for: alcoholic beverages and tobacco (+6.3 percent from +6.5 percent), clothing and footwear (+2.5 percent from +2.6 percent), furnishing households equipment and routine maintenance (+2.4 percent); and health (+2.5 percent from +2.6). Cost was steady for: housing, water, electricity, gas and other fuels (+1.3 percent); communication (+0.1 percent); education (+1.8 percent), and restaurant and miscellaneous goods and services (+2.1 percent).
1/5/2017 10:12:24 AM
Core consumer prices went up 2.5 percent from a year earlier, slightly up from a 2.4 percent rise in the prior month. It was the highest figure since March 2015.
On a monthly basis, consumer prices rose 0.3 percent, slowing from a 0.6 percent gain in November. Prices rose for: food and non-alcoholic beverages (+0.2 percent); alcoholic beverages and tobacco (+0.6 percent); clothing and footwear (+0.1 percent); housing, water, electricity, gas and other fuels (+0.3 percent); furnishing, households equipment and routine maintenance (+0.1 percent); health (+0.1 percent); transport (+2.3 percent); recreation and culture (+0.2 percent), education (0 percent), and restaurant and miscelleneous goods and services (+0.2 percent).