Philippines Inflation April 2016

Philippines

Philippines: Inflation stable in April

May 5, 2016

In April, consumer prices increased 0.2% over the previous month, inching up from the 0.1% increase recorded in March. April’s reading mainly reflected higher prices for food and for electricity, gas and other fuels.

Inflation was at 1.1% in April, which was in line with the 1.1% recorded in March. Moreover, annual average inflation inched down from 1.1% in March to 1.0% in April. In fact, the Central Bank uses annual average inflation as a guide for monetary policy.

Core consumer prices, which exclude volatile items such as food and oil, rose 0.3% in April over the previous month, exceeding March’s 0.1% reading. Finally, core inflation inched down to 1.7% from 1.8% in March.

FocusEconomics Consensus Forecast panelists expect annual inflation to average 2.0% in 2016, which is down 0.3 percentage points from last month’s projection. For 2017, panelists see average inflation of 3.0%.


Author: Teresa Kersting, Economist

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Philippines Inflation Chart


Philippines Inflation April 2016

Note: Annual and monthly variation of consumer price index in %.
Source: National Statistics Office (NSO) and FocusEconomics calculations.


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