The ocean and the beach in the Philippines

Philippines Inflation March 2023

Philippines: Inflation drops to six-month low in March

Inflation dropped to 7.6% in March, following February’s 8.6%. March’s figure represented the lowest inflation rate since September 2022. The reading was largely driven by softer growth in prices for food and non-alcoholic beverages. Moreover, prices for transport grew at a more subdued pace.

The trend pointed up, with annual average inflation coming in at 7.1% in March (February: 6.8%).

Lastly, consumer prices were stable on a seasonally adjusted basis from the previous month in March, below February’s 0.34% rise. March’s result marked the softest reading since August 2020.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest