Food Costs Drive Rise in February Inflation

Consumer prices in the Philippines climbed faster in February as increases in food costs pushed inflation to 2.4 percent, the highest level recorded in the past 13 months, according to the Philippine Statistics Authority.

The latest inflation rate marks an increase from 2.0 percent in January, signaling a slight acceleration in the overall cost of goods and services during the month.

Government data showed that higher prices of several food items contributed significantly to the uptick. Commodities such as corn, fish, seafood, vegetables, and fruits posted notable increases, adding pressure to household spending.

Despite the rise, some sectors recorded slower price growth, including transportation and information and communication, which helped prevent inflation from rising further.

Economic managers said they are keeping a close watch on global developments that could influence domestic prices, particularly the ongoing tensions in the Middle East that may lead to higher fuel costs worldwide.

Arsenio Balisacan, secretary of the Department of Economy, Planning, and Development, said the government remains vigilant in monitoring both global and local factors that could affect price stability.

He added that authorities are preparing contingency measures, including promoting fuel conservation, to cushion the possible impact of external shocks on consumers and businesses.

The Bangko Sentral ng Pilipinas likewise said inflation remains within manageable levels but assured the public that policymakers will continue assessing economic data closely.

The central bank currently projects inflation to average 3.6 percent in 2026, with officials emphasizing the need to remain cautious amid uncertainties in the global economy.