The annual inflation rate in the Philippines accelerated to 7.2% in September 2026 from 6.1% in August, overshooting forecasts of 6.6% and matching April’s three-year high. Price growth picked up across most major categories, led by transport inflation, which rose to 14.6% from 13.5%, while housing, water, electricity, gas and other fuels increased to 8.4% from 7.9%, as the country’s heavy reliance on Middle Eastern oil left it particularly exposed to higher energy costs amid the regional conflict. Food and non-alcoholic beverage inflation also accelerated to 6.7% from 4.6%, while inflation for restaurants and accommodation services rose to 7% from 6.8%. Meanwhile, core inflation jumped to 4.7%, the highest since November 2023, above the expected 4.4% and up from 4.1% in August. On a monthly basis, consumer prices rose 1%, the most since April, exceeding expectations and August’s 0.6% growth. The year-to-date average inflation rate now stands at 5.4%. source: Philippine Statistics Authority

Inflation Rate in Philippines increased to 7.20 percent in September from 6.10 percent in August of 2026. Inflation Rate in Philippines averaged 7.88 percent from 1958 until 2026, reaching an all time high of 62.80 percent in September of 1984 and a record low of -2.10 percent in January of 1959. This page provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

Inflation Rate in Philippines increased to 7.20 percent in September from 6.10 percent in August of 2026. Inflation Rate in Philippines is expected to be 5.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Inflation Rate is projected to trend around 2.00 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-04 01:00 AM
Inflation Rate YoY
Aug 6.1% 6.2% 6% 5.9%
2026-10-06 01:00 AM
Inflation Rate YoY
Sep 7.2% 6.1% 6.6% 6.4%
2026-11-05 01:10 AM
Inflation Rate YoY
Oct 7.2% 7.3%



Components Last Previous Unit Reference
Food Inflation 6.70 4.60 percent Sep 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 137.70 136.40 points Sep 2026
Core Consumer Prices 135.30 134.50 points Sep 2026
Core Inflation Rate YoY 4.70 4.10 percent Sep 2026
CPI Clothing 125.10 124.80 points Sep 2026
CPI Education 125.80 125.60 points Sep 2026
CPI Food 139.90 137.60 points Sep 2026
CPI Health 134.10 133.20 points Sep 2026
CPI Housing Utilities 134.20 133.20 points Sep 2026
CPI Recreation and Culture 125.40 125.00 points Sep 2026
CPI Restaurants and Hotels 141.00 140.70 points Sep 2026
CPI Transportation 148.00 146.70 points Sep 2026
Export Prices 101.62 101.61 points Jun 2026
GDP Deflator 125.18 123.18 points Jun 2026
Import Prices 100.18 100.59 points Jun 2026
Inflation Rate YoY 7.20 6.10 percent Sep 2026
Inflation Rate MoM 1.00 0.60 percent Sep 2026
Producer Prices 101.45 101.13 points Aug 2026
PPI YoY 3.10 3.00 percent Aug 2026
Retail Price Index YoY 3.90 4.00 percent Aug 2026


Philippines Inflation Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
7.20 6.10 62.80 -2.10 1958 - 2026 percent Monthly

News Stream
Philippines Inflation Rate Jumps to 7.2%
The annual inflation rate in the Philippines accelerated to 7.2% in September 2026 from 6.1% in August, overshooting forecasts of 6.6% and matching April’s three-year high. Price growth picked up across most major categories, led by transport inflation, which rose to 14.6% from 13.5%, while housing, water, electricity, gas and other fuels increased to 8.4% from 7.9%, as the country’s heavy reliance on Middle Eastern oil left it particularly exposed to higher energy costs amid the regional conflict. Food and non-alcoholic beverage inflation also accelerated to 6.7% from 4.6%, while inflation for restaurants and accommodation services rose to 7% from 6.8%. Meanwhile, core inflation jumped to 4.7%, the highest since November 2023, above the expected 4.4% and up from 4.1% in August. On a monthly basis, consumer prices rose 1%, the most since April, exceeding expectations and August’s 0.6% growth. The year-to-date average inflation rate now stands at 5.4%.
2026-10-06
Philippines Inflation Slightly Eases in August
The annual inflation rate in the Philippines eased to 6.1% in August 2026 from 6.2% in July, but came above expectations of 6%. Food and non-alcoholic beverage inflation slowed to 4.6% from 5.2% in July, mainly due to a decline in the prices of vegetables, tubers, plantains, cooking bananas and pulses. Inflation for housing and utilities also moderated to 7.9% from 8.2%. On the other hand, transport inflation rose to 13.5% from 11.9%, reflecting renewed fuel price increases in the second half of August. Price growth also increased for alcoholic beverages and tobacco (6.3% vs. 6%), furnishings and household equipment (4.1% vs. 3.9%), and health (5% vs. 4.8%). On a monthly basis, consumer prices jumped 0.6%, the most since April, following a 0.1% gain in July and exceeding expectations of a 0.5% rise. Meanwhile, core inflation eased to 4.1% from 4.2%, in line with forecasts. Average inflation stood at 5.2% from January to August, remaining above the government’s 2%-4% target range.
2026-09-04
Philippines Inflation Rate Slows to 6.2%
The annual inflation rate in the Philippines eased to 6.2% in July 2026, exceeding expectations of a decline to 6.3% and down from 6.4% in June. Transport inflation decelerated to 11.9% from 12.8%, as fuel price pressures eased. Price growth also moderated for education services (1.9% vs. 4.0%) and restaurants and accommodation services (6.8% vs. 7.0%), while food and non-alcoholic beverage inflation remained unchanged at 5.2%. Meanwhile, inflation accelerated for housing, water, electricity, gas and other fuels (8.2% vs. 8.1%), furnishings and household equipment (3.9% vs. 3.7%), health (4.8% vs. 4.6%), recreation and culture (5.3% vs. 5.2%), and personal care and miscellaneous goods and services (3.8% vs. 3.7%). On a monthly basis, the CPI increased 0.1%, following a 0.2% decline in June. Annual core inflation slowed to 4.2% from 4.4% in June. Average inflation stood at 5% from January to July, remaining above the government’s 2%-4% target range.
2026-08-05