In a recent paper by Neriza Chow and Andrew Adrian Pua, both researchers at De La Salle University, found that the Total Supply (TS) deflator-based inflation can complement CPI inflation. Using data from the Quarterly National Accounts (QNA) of the Philippines from Q1 2005 to Q1 2026, they constructed both real and nominal Total Supply by adding imports back to Gross Domestic Product (GDP). Although the Total Supply (TS) deflator is available quarterly and the CPI is available monthly, the frequency mismatch is addressed by using temporal disaggregation methods.
