Latest reading: Consumer prices increased 31.3% in annual terms in October, following a 31.8% rise in the previous month. The...
Inflation in Philippines
Consumer price inflation in Philippines averaged 3.4% in the ten years to 2024, in line with the ASEAN regional average of 3.0%. The 2024 average figure was 3.2%. For more information on inflation, visit our dedicated page.
Philippines Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Philippines from 2014 to 2025.
Source: Macrobond.
Philippines Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.4 | 3.9 | 5.8 | 6.0 | 3.2 |
| Inflation (CPI, ann. var. %, eop) | 3.3 | 3.1 | 8.1 | 3.9 | 2.9 |
| Inflation (PPI, ann. var. %, aop) | -4.6 | -1.8 | 6.5 | 1.4 | -0.7 |
Inflation stabilizes in October
Latest reading: Consumer prices rose 1.7% on a year-on-year basis in October, stable from the previous month's reading. Relative to the prior month's data, there were higher price pressures for clothing and footwear (+1.7% in annual terms vs +1.6% in September) and housing and utilities (+2.7% vs +2.1% in September). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+0.5% vs +1.0% in September) and transport (+0.9% vs +1.0% in September). Finally, consumer prices rose 0.08% in October in seasonally adjusted month-on-month terms, unchanged from the previous month's reading.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine inflation projections for the next ten years from a panel of 32 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Philippine inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine inflation projections.
Want to get access to the full dataset of Philippine inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Argentina: Inflation decelerates in October from September -
Serbia: Inflation slows in October from the prior month Latest reading: Consumer prices rose 2.8% in annual terms in October, following a 2.9% rise in the prior month. Relative... -
Guatemala: Inflation ebbs in October from September Latest reading: Consumer prices were up 1.3% in annual terms in October, following a 1.5% rise in the prior month.... -
Ukraine: Inflation slows in October from the prior month Latest reading: Consumer prices were up 10.9% in annual terms in October, following a 11.9% rise in the prior month.... -
Greece: Inflation slows in October from the prior month Latest reading: Harmonized consumer prices rose 1.6% on a year-on-year basis in October, following a 1.8% rise in the prior... -
Vietnam: Inflation slows in October from the prior month Latest reading: Consumer prices were up 3.2% on a year-on-year basis in October, coming after a 3.4% rise in the... -
Denmark: Inflation ticks down in October Latest reading: Consumer prices were up 2.1% in annual terms in October, following a 2.3% increase in the previous month....