Philippines Inflation September 2021


Philippines: Inflation recedes in September

October 5, 2021

Consumer prices rose a seasonally-adjusted 0.08% over the previous month in September, below August's 0.62% increase. September's result marked the weakest reading since March. The weaker price growth was in part due to a fall in food and non-alcoholic beverage prices.

Inflation edged down to 4.8% in September, from August’s 4.9%. Annual average inflation edged up to 4.1% in September (August: 3.9%). Lastly, core inflation was unchanged, coming in at August's 3.3% in September.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.0% in 2022, which is unchanged from last month’s forecast, and to average 3.1% in 2023.


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Philippines Inflation Chart

Philippines Inflation September 2021

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

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