Philippines Inflation Rate

The inflation rate in Philippines was recorded at 3.90 percent in March of 2014. Inflation Rate in Philippines is reported by the National Statistics Office of Philippines. Inflation Rate in Philippines averaged 8.92 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. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.90 4.10 62.80 -2.10 4.75 | 2014/04 1958 - 2014 Percent Monthly

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Philippines Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-07 01:00 AM Philippines
Inflation Rate YoY
Dec 2013 4.1% 3.3% 2.67%
2014-02-05 01:00 AM Philippines
Inflation Rate YoY
Jan 2014 4.2% 4.1% 4.5%
2014-03-05 01:00 AM Philippines
Inflation Rate YoY
Feb 2014 4.1% 4.2% 4.71%
2014-04-04 02:00 AM Philippines
Inflation Rate YoY
Mar 2014 3.9% 4.1% 4.2% 4.25%
2014-05-06 02:00 AM Philippines
Inflation Rate YoY
Apr 2014 3.9% 4.75%
2014-06-05 02:00 AM Philippines
Inflation Rate YoY
May 2014 4.24%
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Prices Last Previous Highest Lowest Forecast Unit
Consumer Price Index (CPI) 137.70 2014-03-15 137.80 137.80 1.27 137.98 2014-04-30 Index Points [+]
Core Consumer Prices 133.60 2014-03-15 133.70 133.70 75.20 134.01 2014-04-30 Index Points [+]
Core Inflation Rate 2.77 2014-03-15 3.00 7.25 1.86 2.95 2014-04-30 Percent [+]
GDP Deflator 178.84 2013-11-15 171.52 178.84 12.35 176.42 2014-03-31 Index Points [+]
Inflation Rate Mom -0.10 2014-03-15 0.10 9.00 -4.60 0.68 2014-04-30 Percent [+]
Producer Prices 153.30 2014-02-15 152.10 180.70 81.10 153.30 2014-03-31 Index Points [+]
Producer Prices Change -0.40 2014-02-15 0.10 17.50 -10.00 -2.54 2014-03-31 Percent [+]
Inflation Rate 3.90 2014-03-15 4.10 62.80 -2.10 4.75 2014-04-30 Percent [+]
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Philippines Inflation Rate Edges Down in March

Philippines annual consumer prices decelerated for the second straight month to 3.9 percent, the lowest rate in four months, due to a slowdown in prices of alcoholic beverages, tobacco, housing, water, electricity, gas, recreation and restaurants.

Year-on-year, prices of alcoholic beverages and tobacco decelerated to 4.9 percent in March from 7.1 percent in February; cost of housing, water, electricity, gas and other fuels slowed to 2.7 percent from 3.6 percent; recreation and culture decreased to 2.4 percent from 2.5 percent; and restaurant and miscellaneous goods and services slowed to 2.0 percent from 2.2 percent. 

The country’s food alone index increased by 6.0 percent in March from 5.9 percent in February. All the food groups had higher annual rates except the fish and vegetable indices. 

On a monthly basis, consumer prices dropped by 0.1 percent in March, following a 0.1 percent rise in February, mainly due to a 0.8 percent decrease in prices of housing, water, electricity, gas and other fuels. In addition, slower monthly upticks were recorded for the remaining commodity groups except for food and non-alcoholic beverages; health; communication; and education which retained their last month’s rate.

National Statistics Office | Joana Taborda | joana.taborda@tradingeconomics.com
4/4/2014 10:11:22 AM

RECENT RELEASES

Philippines Inflation Rate Slows in February
Philippines annual inflation fell to 4.1 percent in February from 4.2 percent in January, as alcoholic beverages, tobacco and transport prices rose at a slower pace. On a monthly basis, the inflation rate eased from 0.7 percent in January to 0.1 percent in February, as the country starts to recover from supply shocks caused by November’s Typhoon Haiyan. Published on 2014-03-05

Philippines Inflation Rate Accelerates in January
In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month. Published on 2014-02-05


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


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Philippines Inflation Rate Edges Down in March  
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The trade deficit widened in January of 2014 to USD -1.38 billion from USD -0.72 billion a year earlier and USD -0.70 billion in December of 2013. While exports climbed for the eighth consecutive month, imports posted the highest increase in nearly 3 years.
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At its February 2nd meeting, Philippines' Central Bank decided to keep its key policy rate unchanged at 3.50 percent as recent inflationary pressures are mainly due to adverse weather conditions.
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In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month.
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In the fourth quarter of 2013, Philippines GDP slowed to an annual growth rate of 6.5 percent, down from a revised 6.9 percent in the previous three months and 7.1 percent a year earlier. Although Typhoon Haiyan hit the economy, robust household consumption made the GDP figures better than initial government estimates. Full 2013 GDP expanded 7.2 percent.
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