34   INFLATION RATES           
 2012 = 100               
 for periods indicated               
   
   2013   2014   2015   2016   2017   2018   2019   
   
   Average  2.6 3.6 0.7 1.3 2.9 5.2 3.4  
   
 January  2.8 3.7 1.5 0.7 2.5 3.4 4.4  
 February  2.9 3.6 1.5 0.5 3.1 3.8 3.8  
 March  2.7 3.5 1.5 0.6 3.1 4.3 3.3  
 April  2.2 3.6 1.4 0.7 3.2 4.5 3.0  
 May  2.3 4.0 0.9 0.9 2.9 4.6 3.2  
 June  2.5 3.8 0.6 1.3 2.5 5.2 2.7  
 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 6.0  
 December  3.8 1.9 0.7 2.2 2.9 5.1  
   
                 
1/ Beginning 6 March 2018, the base year of the Consumer Price Index (CPI) was updated from 2006 to 2012. The 2012-based CPI uses the chain method, which allows the inclusion of new commodities in the market basket to reflect changing consumer tastes and preferences as well as technological changes. The chain method also allows the exclusion of commodities as a result of obsolescence.
 Source: Philippine Statistics Authority (PSA)