Philippines Inflation December 2021


Philippines: Inflation plunges to lowest level since December 2020 in December

January 5, 2022

Consumer prices flatlined over the previous month in December, coming in below November's 0.54% increase, amid softer price pressures for food. December's result marked the weakest reading since March.

Inflation dropped to 3.6% in December from November’s 4.2%. December's reading represented the weakest inflation rate since December 2020. Meanwhile, the trend was unchanged, with annual average inflation coming in at November's 4.4% in December. Finally, core inflation fell to 3.0% in December, from November’s 3.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2022, which is up 0.1 percentage points from last month’s forecast, and 3.2% in 2023.


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Philippines Inflation Chart

Philippines Inflation December 2021 0

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

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