Philippines Inflation June 2020

Philippines

Philippines: Inflation rises in June

July 7, 2020

Consumer prices increased a 0.49% in June over the previous month, a larger rise than the 0.08% increase logged in May and the sharpest increase seen since January. The uptick was driven by a sharp increase in transport prices in June amid recovering oil prices.

Inflation came in at 2.5% in June, up from May’s 2.1% print. Meanwhile, annual average inflation edged down to 2.0% from May’s 2.1%. Lastly, core inflation ticked up to 3.0% in June (May: 2.9%).

FocusEconomics panelists expect inflation to average 2.2% in 2020, which is down 0.4 percentage points. In 2021, inflation is seen averaging 2.8%.


Author: Angela Bouzanis, Lead Economist

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