Major Sources of Inflation in the Philippines

By | August 9, 2018

The following are the major sources of inflation in the Philippines:

  • Food – 6.8%
  • Non-Alcoholic Beverage – 11.1%
  • Alcoholic Beverage and Tobacco – 21.5%
  • Clothing and Footwear – 2.4%
  • Housing,Water,Electricity,Gas and Other Fuels – 5.6%
  • Furnishings,Household Equipment and Maintenance – 3.3%
  • Health – 3.7%
  • Transport – 7.9%
  • Communication – 0.5%
  • Recreation and Culture – 0.9%
  • Education – -0.3.9%
  • Restaurants,Miscellaneous Goods and Services – 3.7%
inflation in the philippines

Inflation in the Philippines | Image Credit | BSP

 

The Bangko Sentral ng Pilipinas (BSP) in its July press release said that headline
inflation reached 5.7% year-on-year in July compared to 5.2% in June using the
2012-based consumer price index (CPI) series .

 

Core inflation increased to 4.5% in July from 4.3% in the previous month.

 

Month-on-month seasonally adjusted headline inflation declined to 0.5% in July
from 0.6% in June.

 

Higher inflation was attributed largely to the increase in prices of food,
utilities and transport services.

 

Tobacco inflation rate also rose due to the scheduled excise tax increase in
July 2018.

 

Upward adjustment in electricity and water rates, as well as the provisional
increase in the minimum jeepney fares also contributed to the rise in
non-food inflation for the month.(BSP)

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