Philippines - Consumer Price Index (CPI)





Philippines: Consumer Price Index (CPI)

Mnemonic CPI.IPHL
Unit Index 2018=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.94 %
Data Oct 2022 117.9
Sep 2022 116.8

Series Information

Source Philippine Statistics Authority
Release Consumer Price Index
Frequency Monthly
Start Date 1/31/1957
End Date 10/31/2022

Philippines: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2022 117.9 116.8 Index 2018=100, NSA Monthly
Producer Price Index (PPI) Sep 2022 99.13 98.44 Index 2018=100, NSA Monthly
Wholesale Price Index Sep 2022 131 130 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 2020, which is patterned after UN COICOP
  • Measurement: Fixed-base index relative to 2018 (Index 2018=100)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start dates:
    • Uniformly 2021m1 for SA
    • Uniformly 2018m1 for NSA

Predecessors:

  • PCOICOP 2009 and 2012=100, NSA - 2012/2017 (NSA/SA) to 2021m12 (archive specifier "_12")
  • 2006=100, NSA - 1994/2011 to 2018 m6("_06")
  • 2000=100 - 1995 to 2011m12 ("00")

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. In 2018 the composition accounted for 22.8% of the 2012=100 CPI, 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

An updated core CPI for the 2018=100 CPI was premiered in August 2022, but the composition has not yet been described by the source.

Moody's Analytics supplements

For the general index, we back-extend the history (NSA prior to 2018m1, SA prior to 2021m1)  to 1957m1, using the predecessor(s) and IMF. 

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