Philippines - Consumer Price Index (CPI)





Philippines: Consumer Price Index (CPI)

Mnemonic CPI.IPHL
Unit Index 2012=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.62 %
Data Aug 2021 129.3
Jul 2021 128.5

Series Information

Source Philippine Statistics Authority
Release Consumer Price Index
Frequency Monthly
Start Date 1/31/1957
End Date 8/31/2021

Philippines: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Aug 2021 129.3 128.5 Index 2012=100, NSA Monthly
Producer Price Index (PPI) Jul 2021 90.58 89.84 Index 2018=100, NSA Monthly
Wholesale Price Index Jun 2021 119.4 119.3 Index 2012=100, NSA Monthly

Release Information

For the Philippines, a monthly detailed consumer price index and core CPI. This indicates the change in average prices for commonly purchased household goods and services.

Active:

  • Classification: PCOICOP 2005, which is patterned after UN COICOP
  • Measurement: Fixed-base index relative to 2012 (Index 2012 = 100)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates: 1994m1, 2012m1 or 2017m2

Predecessors:

  • 2006=100 - 1994 to 2018
  • 2000=100 - 1995 to 2011

The CPI being released monthly by NSO is the "all-income" CPI at the national level, Metro Manila and areas outside Metro Manila. All-income refers to the average Filipino income-earning households and includes those belonging to the high- middle- and low-income brackets. This means that expenditures of all income-earning households are reflected in the current CPI weights. The index measures the changes in prices affecting households from all income groups, not only the "DE crowd", which would be those belonging to the bottom deciles in the income distribution.

The CPI is computed using the weighted arithmetic mean of price relatives, a variant of Laspeyres formula with fixed base year period weights.

"Core CPI" excludes select food and energy items that account for 22.8% of the CPI (at time of adoption in 2018), viz.:

  • Rice
  • Corn
  • Meat, fresh, chilled or frozen
  • Fish, fresh, chilled or frozen
  • Fresh, chilled, frozen or dried vegetables cultivated for their fruit
  • Fresh, chilled, frozen or dried vegetables cultivated for their roots
  • Petroleum and fuels for personal transport equipment

Moody's Analytics supplements

For the general index, we back-extend the history (NSA prior to 2012m1, SA prior to 2017m2) using the predecessor and IMF. 

Some data are seasonally adjusted and revisions are updated when next period data is out.