The annual inflation rate in the Philippines rose to 3.3 percent in November 2020 from 2.5 percent in October. This was the highest reading since March 2019 after typhoons ravaged the country and above the central bank's target of 2.4 to 3.2 percent. Main upward pressure came from food and non-alcoholic beverages (4.3 percent vs 2.1 percent in October); alcoholic beverages (12.3 percent vs 11.3 percent); clothing (1.6 percent vs 1.7 percent); housing (0.8 percent vs 0.9 percent); furnishing (3.5 percent vs 3.7 percent); health (2.4 percent vs 2.7 percent); transport (7.6 percent vs 7.9 percent); communication (0.3 percent vs 0.4 percent); education (1.1 percent vs 1.2 percent); and restaurant and miscellaneous goods and services (2.2 percent vs 2.4 percent). In contrast, cost of recreation and culture fell further (-0.6 percent vs -0.6 percent). On a monthly basis, consumer prices rose by 1.1 percent, the highest since February 2011, after a 0.3 percent gain in October. source: Philippine Statistics Authority
Inflation Rate in Philippines averaged 8.21 percent from 1958 until 2020, reaching an all time high of 62.80 percent in September of 1984 and a record low of -2.10 percent in January of 1959. This page provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Inflation Rate in Philippines is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Philippines to stand at 2.20 in 12 months time. In the long-term, the Philippines Inflation Rate is projected to trend around 2.50 percent in 2021 and 3.00 percent in 2022, according to our econometric models.