34 INFLATION RATES           
 2018 = 100                       
 for periods indicated               
 2018   2019   2020   2021   2022 
   Average       5.2      2.4      2.4      3.9      4.9  
 January       3.4 4.4 3.0 3.7 3.0
 February       3.7 3.8 2.5 4.2 3.0
 March       4.3 3.4 2.2 4.1 4.0
 April       4.3 3.2 1.8 4.1 4.9
 May       4.6 3.2 1.6 4.1 5.4
 June       5.0 2.7 2.3 3.7 6.1
 July       5.8 2.2 2.4 3.7 6.4
 August       6.6 1.4 2.2 4.4 6.3
 September       6.9 0.5 2.2 4.2
 October       6.9 0.6 2.3 4.0
 November        6.1 1.2 3.0 3.7
 December       5.2 2.4 3.3 3.1
                       
1/ Beginning 4 February 2022, the base year of the Consumer Price Index (CPI) was updated from 2012 to 2018. The rebasing of the CPI is done periodically by PSA: (1) to ensure that the CPI market basket continues to capture goods and services commonly purchased by households over time; (2) to update expenditure patterns of households; and (3) to synchronize its base year with 2018 base year of the Gross Domestic Product and other indices produced by PSA.
r Revised
 Source: Philippine Statistics Authority (PSA)