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Research Article

A Time-Series Analysis of Selected Economic Indicators Affecting Inflation in the Philippines: 2003-2020

Authors

  • Danielle Marie P. Pama Department of Economics, University of Santo Tomas, Manila, Philippines
  • Herbert L. Peliglorio Department of Economics, University of Santo Tomas, Manila, Philippines
  • Anna Corinna Pizarro-Uy Master of Arts in Economics, University of Santo Tomas, Manila, Philippines

Abstract

The Philippines is a country that has been experiencing a gradual rise in inflation in the past decades, and this affects the prices of goods and services, therefore decreasing the currency's purchasing power. The aim of this study is to analyze the relationship between Inflation and selected economic indicators, such as Unemployment Rate, Money Supply, Policy Rate, and Exchange Rate, based on time series quarterly data from the year 2003 to 2020 in the Philippines. This effect was investigated using the autoregressive distributed lag (ARDL) cointegration technique. The results showed that Inflation, which is the rate of increase in prices over a given period in the Philippines, has a significant positive relationship with the Policy rate in the short run.

Article information

Journal

Journal of Economics, Finance and Accounting Studies

Volume (Issue)

4 (2)

Pages

292-306

Published

2022-04-30

How to Cite

Pama, D. M. P., Peliglorio, H. L., & Pizarro-Uy, A. C. (2022). A Time-Series Analysis of Selected Economic Indicators Affecting Inflation in the Philippines: 2003-2020. Journal of Economics, Finance and Accounting Studies, 4(2), 292–306. https://doi.org/10.32996/jefas.2022.4.2.23

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Keywords:

Inflation, Unemployment, Money supply, Policy rate, Exchange rate, Philippines