Philippines Inflation May 2016


Philippines: Inflation increases in May

June 7, 2016

In May, consumer prices increased 0.3% over the previous month, inching up from the 0.2% increase recorded in April. May’s reading mainly reflected higher prices for food items.

Inflation was 1.6% in May, which was above the 1.1% recorded in April and marked a one-year high. However, annual average inflation—which the Central Bank uses as a guide for monetary policy—remained stable at 1.0%.

Core consumer prices, which exclude volatile items such as food and oil, rose 0.1% in May over the previous month, coming in just below April’s 0.2% increase. Finally, core inflation inched up to 1.6% from 1.5% in April.

FocusEconomics Consensus Forecast panelists expect annual inflation to average 2.0% in 2016, which is unchanged from last month’s projection. For 2017, panelists see average inflation of 2.9%.

Author:, Economist

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Philippines Inflation Chart

Philippines Inflation May 2016

Note: Annual and monthly variation of consumer price index in %.
Source: National Statistics Office (NSO) and FocusEconomics calculations.

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