Latest reading: Consumer prices rose 3.5% on a year-on-year basis in September, following a 3.0% increase in the previous month....
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 2025 to 2024.
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 picks up in September
Latest reading: Consumer prices rose 1.7% in annual terms in September, following a 1.5% increase in the previous month. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+1.0% yoy vs +0.9% in August) and transport (+1.0% vs -0.3% in August). Meanwhile, price pressures for clothing and footwear grew at the same pace (+1.7% in September and August). Similarly, the variation in housing and utilities prices was the same as in the prior month (+2.1% in September and August). Finally, consumer prices rose 0.06% in September in seasonally adjusted month-on-month terms, following a 0.52% increase in the previous month.
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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Australia: Inflation picks up in September from the prior month -
United States: Inflation rises in September from August Latest reading: Consumer prices rose 3.0% on a year-on-year basis in September, following a 2.9% increase in the prior month.... -
Hong Kong: Inflation stabilizes in September from August Latest reading: Consumer prices rose 1.1% on a year-on-year basis in September, unchanged from the prior month’s reading. As such,... -
United Kingdom: Inflation stabilizes in September from the prior month Latest reading: Consumer prices increased 3.8% on a year-on-year basis in September, stable from the previous month’s reading. September’s reading... -
Canada: Inflation rises in September from August Latest reading: Consumer prices increased 2.4% in annual terms in September, following a 1.9% increase in the prior month. September’s... -
Israel: Inflation decelerates in September from August Latest reading: Consumer prices rose 2.5% in annual terms in September, following a 2.9% rise in the previous month and... -
New Zealand: Inflation ticks up in Q3 Latest reading: Inflation rose to 3.0% in Q3 2025 from 2.7% in Q2, in line with market expectations and hitting...