Philippines Inflation May 2019


Philippines: Inflation accelerates in May

June 5, 2019

Consumer prices increased 0.17% over the prior month in May, down from the 0.25% increase registered in April. The increase was primarily driven by higher prices for transport; alcoholic beverages and tobacco, and food and non-alcoholic beverages.

Inflation rose to 3.2% in May from 3.0% in April, remaining within the Central Bank’s target band of 3.0% plus or minus 1.0 percentage point. Core inflation, which excludes volatile food and energy prices, inched up to 3.5% in May from 3.4% in April, while annual average inflation inched down to 5.0% in May from 5.1% in April.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2019, which is down 0.1 percentage points from last month’s projection. For 2020, panelists see average inflation of 3.4%.

Author:, Economist

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Philippines Inflation Chart

Philippines Inflation May 2019

Note: Annual and monthly variation of consumer price index in %.
Source: Central Bank of the Philippines (BSP) and FocusEconomics calculations.

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