Philippines' Inflation Hits 13-Month High at 2.4% in February

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Inflation in the Philippines accelerated to 2.4% in February, marking the fastest increase in 13 months, according to data from the Philippine Statistics Authority (PSA) released on March 5. This rate surpasses the 2.0% recorded in January and is slightly higher than the 2.1% in February 2025. The PSA cited the primary drivers as faster price hikes in food and non-alcoholic beverages, with inflation in these categories climbing from 1.1% in January to 1.8% in February.

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The figures were collected before tensions escalated in the Middle East, which contributed to increased global gas prices. Despite this, the Department of Economy, Planning, and Development (DEPDev) is closely monitoring these geopolitical developments due to their potential impact on Filipino consumers. DEPDev Secretary Arsenio Balisacan emphasized that although price conditions are currently stable, recent events necessitate the consideration of short-term measures, such as fuel conservation guidelines.

Secretary Balisacan also outlined the government’s readiness to implement timely interventions if external shocks grow, prioritizing protection for vulnerable households, support for impacted industries, and maintaining growth momentum. Meanwhile, inflation predictions from the Bangko Sentral ng Pilipinas (BSP) place the 2026 forecast at 3.6%, though inflation is currently deemed manageable. The BSP reiterated its commitment to data-driven vigilance, especially regarding developments in the Middle East and their potential effects on inflation and economic activity.

Looking forward, these economic indicators will inform the Monetary Board's ongoing assessments and policy decisions. The BSP has stressed the importance of monitoring incoming data to address inflation's near-term trajectory, reported Philstar.

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  Adapted by ASEAN Now · Philstar · 05 Mar 2026