Argentina:
Inflation came in at 124.4% in August, up from July’s 113.4%. August’s figure represented the highest inflation rate since our...
Inflation in Philippines
Consumer price inflation in the Philippines averaged 3.1% in the ten years up to 2022, above the Asia-Pacific regional average of 2.1%. The 2022 average figure was 5.8%. For more inflation information, visit our dedicated page.
Philippines Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Philippines from 2014 to 2023.
Source: Macrobond.
Philippines Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.4 | 2.4 | 3.9 | 5.8 | 6.0 |
| Inflation (CPI, ann. var. %, eop) | 2.4 | 3.3 | 3.1 | 8.1 | 3.9 |
| Inflation (PPI, ann. var. %, aop) | -2.3 | -4.6 | -1.8 | 6.5 | 1.4 |
Inflation drops to lowest level since March in June
Inflation inched down to 3.7% in June, edging down from May’s 3.9%. June's result marked the lowest inflation rate since March. The result was driven by moderating price pressures for housing and utilities. Moreover, prices for transport grew at a more subdued pace. In contrast, food price growth strengthened in June. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 4.2% in June (May: 4.3%). Finally, consumer prices increased a seasonally adjusted 0.03% in June over the previous month, below May's 0.34% rise. June's result marked the weakest reading since January.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine inflation projections for the next ten years from a panel of 33 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Philippine inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine inflation projections.
Want to get access to the full dataset of Philippine inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Angola:
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September.... -
Malaysia: Inflation holds steady in June
Inflation was stable at May’s 2.0% in June. The reading came in below market expectations as the rationalization of diesel... -
Hong Kong: Inflation rises in June but remains subdued
Inflation increased to 1.4% in June, slightly above May’s 1.1%. As such, inflation remained among the lowest rates in Asia,... -
Kuwait: Inflation falls to lowest level since November 2020 in June
Inflation fell to 2.8% in June, following May’s 3.2%. June’s reading marked the weakest inflation rate since November 2020, and... -
Canada: Inflation declines to lowest level since March 2021 in June
Inflation dropped to 2.7% in June, which followed May’s 2.9% and undershot market expectations. June’s figure represented the lowest inflation... -
Japan: Inflation holds steady at highest level since October 2023 in June
Inflation was stable at May’s 2.8% in June. June’s reading represented the highest inflation rate since October 2023, and marked...