Philippines Inflation June 2016


Philippines: Inflation increases in June

July 5, 2016

In June, consumer prices increased 0.4% over the previous month, inching up from the 0.3% increase recorded in May. June’s reading mainly reflected higher prices for food items.

Inflation was 1.9% in June, which was above the 1.6% recorded in May and marked the highest reading in 14 months. Annual average inflation—which the Central Bank uses as a guide for monetary policy—rose to 1.1% in June from May’s 1.0%.

Core consumer prices, which exclude volatile items such as food and oil, rose 0.4% in June over the previous month, coming in above May’s 0.1% increase. Finally, core inflation inched up to 1.9% from 1.6% in May.

FocusEconomics Consensus Forecast panelists expect annual inflation to average 1.9% in 2016, which is unchanged from last month’s projection. For 2017, panelists see average inflation of 3.0%.

Author: Teresa Kersting, Economist

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