Inflation, consumer prices for the Philippines
FPCPITOTLZGPHL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.21
Year-over-Year Change
6.13%
Date Range
1/1/1960 - 1/1/2024
Summary
The Inflation, consumer prices for the Philippines is a key economic indicator that measures the change in the overall price level of goods and services purchased by consumers in the Philippines. It is closely monitored by policymakers, economists, and businesses to assess the country's economic health and guide policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for the Philippines tracks the change in the prices paid by consumers for a basket of goods and services in the Philippines. It is an important measure of overall price stability and purchasing power, and is used to inform monetary policy, guide investment decisions, and analyze the cost of living in the country.
Methodology
The data is collected by the Philippine Statistics Authority through a nationwide survey of consumer prices.
Historical Context
The Philippine central bank uses this inflation data to set monetary policy and maintain price stability, which is crucial for economic growth and financial market stability.
Key Facts
- The Philippines has a target inflation range of 2-4% set by the central bank.
- Consumer prices in the Philippines rose by 4.2% in 2022, exceeding the target range.
- Food and non-alcoholic beverages account for the largest share of the consumer price index in the Philippines.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for the Philippines measures the change in the overall price level of goods and services purchased by consumers in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This inflation data is crucial for policymakers, economists, and businesses to assess the country's economic health, guide investment decisions, and analyze the cost of living in the Philippines.
Q: How is this data collected or calculated?
A: The data is collected by the Philippine Statistics Authority through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The Philippine central bank uses this inflation data to set monetary policy and maintain price stability, which is crucial for economic growth and financial market stability.
Q: Are there update delays or limitations?
A: The inflation data for the Philippines is typically released on a monthly basis with minimal delays.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for the Philippines (FPCPITOTLZGPHL), retrieved from FRED.