Food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport are the top contributors to the overall inflation, the PSA said.
STAR/Michael Varcas
Inflation soars to new 9-year high of 6.7% in September
( - October 5, 2018 - 9:12am

MANILA, Philippines (Updated 9:50 a.m.) — The country's headline inflation further quickened to 6.7 percent in September, the Philippine Statistics Authority announced Friday.

The September inflation was higher than the 6.4 percent in August, a new nine-year high.

This is slightly lower than the Bangko Sentral's 6.8 percent forecast and higher than the 6.4 percent forecast of the Department of Finance.

Food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; and transport are the top contributors to the overall inflation, the PSA said.

The food and non-alcoholic beverages index grew to 9.7 percent in September while transport was at 8 percent. 

Other commodity groups also registered increases — alcoholic beverages and tobacco (21.8 percent), clothing and footwear (2.5 percent), furnishing, household equipment and routine maintenance of the house (3.6 percent), health (4.1 percent), communication (0.5 percent) and recreation and culture (3 percent).

'Ompong' contributed to Bicol inflation

PSA also said inflation in the National Capital Region was slower at 6.3 percent in September, and higher outside the capital at 6.7 percent. The highest inflation in the regions was 10.1 percent in Bicol and lowest in Central Luzon at 4.5 percent.

National Statistician Lisa Bersales said Typhoon Ompong (international name Mangkhut) has specifically contributed to the increase of prices of commodities in the Bicol region.

Bersales noted that data is collected in the first five days and the middle of the month, which means that aftermath of the typhoon might have already been reflected on the September inflation.

Ompong ravaged northern Luzon on September 15, damaging almost P27 billion worth of rice, corn, high value crops, fisheries and livestock in the country. — Patricia Lourdes Viray

As It Happens
LATEST UPDATE: January 7, 2020 - 9:10am

The growth of prices of goods and services peaked at 6.7 percent in August this year—the highest inflation rate in nine years.

Metro Manila also suffered from staggering 7-percent inflation last month, forcing Filipino consumers to tighten belts even further.

Inflation has continuously climbed for eight straight months since January this year as President Rodrigo Duterte signed the TRAIN law, or the Tax Reform for Acceleration and Inclusion.

The Philippines' inflation rate is the highest in Southeast Asia. The inflation rate breached economic managers' earlier hoped-for ceiling of 4 percent.

January 7, 2020 - 9:10am

Headline inflation increased by 2.5% in December 2019, the Philippine Statistics Authority says in a briefing. 

"This brings the annual average inflation for 2019 to 2.5%," it also says.

Headline inflation rose to 1.3% in November 2019 after bottoming to a 43-month low of 0.8% in October.

The government's target inflation range for 2019 was 2-4%.

October 4, 2019 - 9:16am

Headline, or total, inflation at the national level in September was at its lowest since June 2016 at 0.9%, the Philippine Statistics Authority days.

Headline inflation in June 2016 was at 1.3%

"The slowdown of the September 2019 inflation was also brought about by the slower annual rate in housing, water, electricity, gas, and other fuels," PSA also says.

September 5, 2019 - 9:17am

The Philippines' headline inflation slowed further to 1.7 percent in August, the Philippine Statistics Authority says in a briefing.

It adds this is the lowest since October 2016, when inflation was at 1.8 percent.

PSA also says that the top contributor to overall inflation for August was the Restaurant and Miscellaneous Goods and Services commodity group, "which recorded an annual rate of 3.2 percent."

"The share of this commodity group to the overall inflation was 24.5 percent," PSA also says.

August 6, 2019 - 9:15am

The country's headline, or total, inflation eased to 2.4% in July, the Philippine Statistics Authority says in a press briefing, down further from 2.7% recorded in June. 

The PSA says inflation in July was the lowest since January 2017. "It was the same rate observed in July 2017," the statistics authority also says.

The July rate brings year-to-date inflation in 2019 to 3.3%.

July 5, 2019 - 9:04am

The headline inflation in the Philippines decelerated to 2.7% in June 2019. This is the lowest inflation recorded since September 2017.

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