Philippines Inflation April 2017


Philippines: Inflation unchanged in April

May 5, 2017

In April, consumer prices in the Philippines rose 0.2% from the previous month, matching March’s increase. The rise mainly reflected higher prices for transport and food and non-alcoholic beverages.

Inflation was 3.4% in April, mirroring March’s reading and within the upper bound of the Central Bank’s target for the 2016–2018 period, set at 3.0% plus/minus one percentage point. Annual average inflation edged up to a 21-month high of 2.5% from the 2.3% figure recorded in March.

Core consumer prices, which exclude volatile items such as foodstuffs and oil, rose 0.3% in April from the previous month, marginally down from March’s 0.4%. Finally, core inflation in April was 3.0%, which came in above March’s 2.9% print.

FocusEconomics Consensus Forecast panelists expect annual inflation to average 1.7% in 2017, which is down 0.1 percentage points from last month’s projection. For 2018, panelists see average inflation of 2.8%.

Author: Massimo Bassetti, Economist

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Philippines Inflation Chart

Philippines Inflation April 2017

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

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