Philippines Inflation Rate

Last Release

Dec 31, 2024

Actual

2.9

Units In

2.5

Frequency

Monthly

Next Release

Feb 05, 2025

Time to Release

27 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
62.8 Sep 1984	-2.1 Jan 1959	8 %	1958-2024	Philippine Statistics Authority

In Philippines, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent.

Latest Updates

The annual inflation rate in the Philippines rose to 2.9% in December 2024 from 2.5% in the previous month, surpassing market expectations of 2.6%. This also marked the highest reading since August, as prices accelerated for housing and utilities (2.9% vs 1.9% in November) and it rebounded for transport (0.9% vs -1.9%). Additionally, costs edged up for recreation, sport and culture (2.5% vs 2.4%). Meanwhile, prices slightly eased for clothing and footwear (2.4% vs 2.6%), health (2.5% vs 2.6%), and restaurants and accommodation services (3.8% vs 3.9%). At the same time, prices were stable for food and non-alcoholic beverages (3.4%). Meanwhile, core inflation, which excludes selected food and energy items, rose to 2.8%, from 2.5% in the preceding month. On a monthly basis, the consumer prices edged higher to 0.6% in December, the most in five months, and up from a 0.4% increase in November.