UnionBank January inflation report

UnionBank January inflation report


UnionBank Publication

UnionBank Publication

12 Feb 2019, 07:00 — 2 min read

In January, Inflation is seen easing further to 4.6% as food supplies normalize and fuel price decline, according to UnionBank’s Economic Research Unit (ERU). Note that December 2018 inflation also eased to 5.1% from November’s print of 6.0%.


The further slowing of January inflation is due to the normalization of food supplies such as rice, vegetables, and other meat products. Lower electricity price and the relatively lower fuel prices have also contributed to the expected lower level of prices this January. A Business World poll among 12 analysts resulted to a median estimate of 4.5%.

This slower inflation enables the Bangko Sentral ng Pilipinas (BSP) to keep interest rates steady for two (2) consecutive meetings. ERU believes that the BSP will hold rates steady.



While this document is based on information obtained from sources we believe to be reliable, we do not make any representations as to its accuracy, completeness, correctness, timeliness or use for any particular purpose. Opinions and statements expressed here are those of their author(s) as of the date of this report and not of Union Bank of the Philippines (UBP). The opinions and statements provided in this document are subject to change without prior notice. Any recommendation contained in this document does not have regard to the reader’s particular investment objectives, financial situation and any other specific needs. This document is for informational purposes only and UBP is not soliciting any action based on it. Nothing here shall to any extent substitute for the independent investigations and the technical and business judgment of the reader. Your use of this document and any of its contents is at your own risk and UBP does not accept any liability for the results of any action or decision taken on the basis of or reliance on this document or any of its contents.

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