34 INFLATION RATES 1/          
 2012 = 100             
 for periods indicated             
   
   2013   2014   2015   2016   2017   2018   
               
   Average            2.6           3.6           0.7           1.3           2.9           5.1  
   
 January  2.8 3.7 1.5 0.7 2.5 3.4  
 February  2.9 3.6 1.5 0.5 3.1 3.8  
 March  2.7 3.5 1.5 0.6 3.1 4.3  
 April  2.2 3.6 1.4 0.7 3.2 4.5  
 May  2.3 4.0 0.9 0.9 2.9 4.6  
 June  2.5 3.8 0.6 1.3 2.5 5.2  
 July  2.4 4.2 0.2 1.3 2.4 5.7  
 August  1.8 4.2 0.0 1.3 2.6 6.4  
 September  2.3 3.9 -0.4 1.7 3.0 6.7  
 October  2.4 3.7 -0.2 1.8 3.1 6.7  
 November  2.9 3.0 0.3 2.1 3.0  
 December  3.8 1.9 0.7 2.2 2.9  
   
Source: Philippine Statistics Authority (PSA)        
               
1/ Effective 6 March 2018, the Philippine Statistics Authority (PSA), rebased the Consumer Price Index (CPI) from 2006 to 2012. Methodological changes were also introduced in the 2012-based CPI. In the new series, the chain method is used as it will provide timely indicators since this method allows the inclusion of new commodities in the market basket that are frequently purchased because of the changing consumer taste and preferences and technological changes. The new (chain) method also allows the exclusion of commodities as a result of obsolescence.