Inflation Philippines 2021
Average inflation: 3.9%
Current Inflation
Inflation is high at 3.9%, well above the ECB target.
Peak and Trough
The highest inflation was in August at 4.4%. The lowest inflation was in December at 3.1%.
- Highest month
- August: 4.4%
- Lowest month
- December: 3.1%
- Difference
- 1.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 4.2%. The lowest price increase was in Energy with an average of 2.6%.
- Highest increase
- Food: 4.2%
- Lowest increase
- Energy: 2.6%
Historical Context
Current inflation is 0.5% higher than the 5-year average of 3.4%.
- 5-year average
- 3.4%
- 10-year average
- 2.8%
- All-time high (2018)
- 5.3%
- All-time low (2015)
- 0.7%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +1.5 percentage point.
- Change vs. previous year
- +1.5 percentage points
- Largest monthly swing
- May: +2.5 percentage points
ECB Target
Inflation is 1.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 3.7% | +0.7 |
| February | 4.2% | +1.7 |
| March | 4.1% | +1.9 |
| April | 4.1% | +2.3 |
| May | 4.1% | +2.5 |
| June | 3.7% | +1.4 |
| July | 3.7% | +1.3 |
| August | 4.4% | +2.2 |
| September | 4.2% | +2.0 |
| October | 4.0% | +1.7 |
| November | 3.7% | +0.7 |
| December | 3.1% | -0.2 |
| Average | 3.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.