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Economic
Research
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6
July 2017
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Philippines
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Economic Update
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Headline
inflation continued to ease to 2.8% YoY in June, from +3.1% in May, on the
back of slower increases in the heavily-weighted prices of food, clothing,
transport, health, housing equipment, recreation & culture as well as
housing & utilities. Going forward, we forecast inflation to rise to 3%
in 2017, from +1.8% in 2016. This is a downward revision from previous
estimation of 3.3% given moderating energy and food prices and also a higher
base in 2H16. The higher inflation in 2017 is premised on:
1.
Higher domestic fuel prices compared to a year earlier;
2.
An upward adjustment in electricity rates;
3.
Resilient domestic demand;
4.
The tax policy reform programme.
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Friday, July 7, 2017
Inflation Continues To Ease In June
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