Philippine inflation rate hits 11-month high of 2% in January

The country’s inflation rate climbed to an 11-month high of 2 percent in January on the back of higher housing and utilities costs, the Philippine Statistics Authority (PSA) reported.

The latest print reached the low end of the 2 percent to 4 percent target of the Bangko Sentral ng Pilipinas (BSP) for the first time since February 2025. 

This was faster than December’s 1.8 percent, which was also the median estimate of the 15 economists surveyed by the Inquirer last week. Still, it remained within the central bank’s 1.4 percent to 2.2 percent forecast range.

State statisticians reported price pressures from housing, water, electricity, gas, and other fuels, which posted an inflation rate of 3.3 percent, up from 2.5 percent in the previous month.

Coupled with weak economic growth, the faster inflation rate may help inform the central bank’s decision on whether further rate cuts are warranted.

The BSP’s next rate-setting meeting is scheduled for Feb. 19.

Source: Philstar