In March, consumer prices added 0.29% over the previous month, following on a 1.06% increase observed in February. The subdued monthly price rise reflected falling food prices as well as cheaper services. On the other hand, prices in the housing and repairs category increased in March. Annual headline inflation remained unchanged in March at 4.3%, which was below the 4.6% expected by the market. Furthermore, the annual core inflation rate, which excludes the price volatility associated with items such as oil and food, eased from 3.6% in February to 3.4% in March. Annual average inflation, which is the reference rate used by the Central Bank to conduct monetary policy, inched down from 3.8% in February to 3.7% in March. Currently, annual average inflation is below the target rate of 4.0% (1% tolerance margin), set by the Bank for 2011.
Inflation holds steady in March
April 5, 2011
Looking for forecasts related to Inflation in Philippines? Download a sample report now.
Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.