Inflation eases in May from April

Latest reading: Consumer prices increased 6.8% on a year-on-year basis in May, following a 7.2% rise in the previous month. Still, inflation remained notably above the Central Bank’s 2.0–4.0% target range. Relative to the previous month's figures, there were milder price pressures for food and non-alcoholic beverages (+5.7% on a year-on-year basis vs +6.0% in April), housing and utilities (+7.8% vs +8.2% in April) and transport (+16.2% vs +21.4% in April). In contrast, price pressures were higher for clothing and footwear in May (+3.0% vs +2.9% in April). Lastly, consumer prices were down 0.51% in May in seasonally adjusted month-on-month terms, following a 2.63% rise in the previous month.

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 36 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.