Philippines Inflation Rate Lowest in almost 30 years

Philippines annual inflation rate eased to 0.4 percent in September of 2015 from 0.6 percent in August and below market consensus. It is the lowest figure since April 1987, as cost of housing and utilities declined further and prices of food and non-alcoholic beverages continued to slowdown. Core inflation also fell to a fresh record low of 1.4 percent.

Inflation Rate in the Philippines averaged 8.73 percent from 1958 until 2015, reaching an all time high of 62.80 percent in September of 1984 and a record low of -2.10 percent in January of 1959.

In the Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent.

Source: Philippines Inflation Rate | 1958-2015 | Data | Chart | Calendar | Forecast

Philippine economy , largest in Southeast Asia by 2050

ASEAN-Emblem

Full ASEAN integration by 2016, but until now, many Filipinos are worried on how the Philippines would fare against our neighbors in the region. In fact, many of us have no idea what this integration is all about. But the experts are projecting a favorable outcome  for the Philippines, If so, exciting itimes ahead for Cebu!

According to Dept of Trade and Industry Secretary Gregory Dominggo, ““The future looks bright for the Philippines. Based on projections by HSBC and Goldman-Sachs, the Philippines will be ranked as the 14th largest economy in the world, the 5th largest economy in Asia and the largest economy in the Southeast Asian Region by 2050. We are even poised to surpass other ASEAN countries. We only need to step up our efforts to improve the competitiveness and capability of our various local industries, as we participate in regional and global trade,” 

source: http://www.gov.ph/