The annual inflation rate in the Philippines rose to 3.3 percent in November 2020 from 2.5 percent in October. This was the highest reading since March 2019 after typhoons ravaged the country and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.3 percent vs 2.1 percent in October); alcoholic beverages (12.3 percent vs 11.3 percent); clothing (1.6 percent vs 1.7 percent); housing (0.8 percent vs 0.9 percent); furnishing (3.5 percent vs 3.7 percent); health (2.4 percent vs 2.7 percent); transport (7.6 percent vs 7.9 percent); communication (0.3 percent vs 0.4 percent); education (1.1 percent vs 1.2 percent); and restaurant and miscellaneous goods and services (2.2 percent vs 2.4 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent). On a monthly basis, consumer prices rose by 1.1 percent, the highest since February 2011, after a 0.3 percent gain in October. source: Philippine Statistics Authority

Inflation Rate in Philippines averaged 8.21 percent from 1958 until 2020, 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 December of 2020.

Inflation Rate in Philippines is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Philippines to stand at 2.20 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2021 and 3.00 percent in 2022, according to our econometric models.

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Philippines Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 2.50 62.80 -2.10 1958 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-09-04 01:00 AM Aug 2.4% 2.7% 2.8% 3.0%
2020-10-06 01:00 AM Sep 2.3% 2.4% 2.4% 2.5%
2020-11-05 01:00 AM Oct 2.5% 2.3% 2.3% 2.4%
2020-12-04 01:00 AM Nov 3.3% 2.5% 2.6% 2.3%
2021-01-07 01:00 AM Dec 3.3% 2.7%
2021-02-05 01:00 AM Jan 2.5%
2021-03-05 01:00 AM Feb
2021-04-07 01:00 AM Mar


News Stream
Philippines Inflation Rate Hits 20-Month High
The annual inflation rate in the Philippines rose to 3.3 percent in November 2020 from 2.5 percent in October. This was the highest reading since March 2019 after typhoons ravaged the country and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.3 percent vs 2.1 percent in October); alcoholic beverages (12.3 percent vs 11.3 percent); clothing (1.6 percent vs 1.7 percent); housing (0.8 percent vs 0.9 percent); furnishing (3.5 percent vs 3.7 percent); health (2.4 percent vs 2.7 percent); transport (7.6 percent vs 7.9 percent); communication (0.3 percent vs 0.4 percent); education (1.1 percent vs 1.2 percent); and restaurant and miscellaneous goods and services (2.2 percent vs 2.4 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent). On a monthly basis, consumer prices rose by 1.1 percent, the highest since February 2011, after a 0.3 percent gain in October.
2020-12-04
Philippines Inflation Rate at 3-Month High in October
The annual inflation rate in the Philippines rose to a three-month high of 2.5 percent in October 2020 from 2.3 percent a month earlier, as the nation reopened further its economy following the COVID-19 crisis. Main upward pressure came from food and non-alcoholic beverages (2.1 percent vs 1.5 percent in September); alcoholic beverages and tobacco (11.3 percent vs 12.9 percent); clothing (1.7 percent vs 1.8 percent); housing (0.9 percent vs 1.2 percent); furnishing and routine maintenance (3.7 percent vs 3.7 percent); health (2.7 percent vs 2.8 percent); transport (7.9 percent vs 8.3 percent); communication (0.4 percent vs 0.4 percent); education (1.2 percent vs 1 percent); and restaurant and miscellaneous goods and services (2.4 percent vs 2.3 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.5 percent). On a monthly basis, consumer prices rose by 0.3 percent, also the highest in three months, after a 0.1 percent gain in September.
2020-11-05
Philippines Inflation Slows to 4-Month Low
The annual inflation rate in the Philippines was at 2.3% in September 2020, compared with market consensus and August's figure of 2.4%. This was the lowest reading since May, with some regions in the country relaunching COVID-19 restriction measures following a rise in virus cases. Prices slowed for food and non-alcoholic beverages (1.5% vs 1.8% in August), alcoholic beverages and tobacco (12.9% vs 17.7%), clothing (1.8% vs 1.9%), and furnishing, routine maintenance (3.7% vs 3.9%). In addition, cost of recreation and culture fell faster (-0.5% vs -0.1%). On the other hand, inflation accelerated for housing (1.2% vs 0.9%), transportation (8.3% vs 6.3 %), communication (0.4% vs 0.3%), and education (0.9% vs 0.1%), while was stable for both health (at 2.8%) and restaurant and miscellaneous goods and services (at 2.3%). On a monthly basis, consumer prices rose 0.1% in September, after a 0.2% fall in August.
2020-10-06
Philippines Inflation Rate Slows to 3-Month Low
The annual inflation rate in the Philippines unexpectedly fell to 2.4% in August 2020 from 2.7% in the prior month and compared with market consensus of 2.8%. This was the lowest fifure since May, amid sluggish demand due to the COVID-19 pandemic. Cost eased for alcoholic beverages & tobacco (17.7% vs 19.3%); food (1.8% vs 2.4%); clothing (1.9% vs 2.2%); education (0.1% vs 0.5%); and miscellaneous goods and services (2.3% vs 2.5%). In addition, prices of recreation and culture dropped (-0.1% vs 1.1%). Meantime, inflation was steady for transport (at 6.3%); health (at 2.8%), and communication (at 0.3%); while little-changed for both housing & utilities (0.9% vs 0.8%); and furnishing, household, routine maintenance (3.9% vs 4%). On a monthly basis, consumer prices fell by 0.2%, the first drop in four months, after a 0.5% rise in July.
2020-09-04

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.