Philippine inflation stays at 2.9% in January 2025
MANILA, Philippines — The inflation rate for January 2025 remained unchanged from the previous month at 2.9%, the Philippine Statistics Authority (PSA) said on Wednesday, February 5.
December 2024 inflation was also at 2.9%. Compared to the same period last year, the January 2025 rate is slightly higher than the 2.8% recorded in January 2024.
The latest inflation figure remains within the government’s target range of 2% to 4%.
The PSA attributed the increase to faster annual growth in food and non-alcoholic beverages (3.8% from 3.4%), alcoholic beverages and tobacco (3.5% from 3.1%), and transport (1.1% from 0.9%).
“Meanwhile, financial services recorded a zero percent inflation rate in January 2025 from a 0.6 percent annual decrease in December 2024,” the PSA said.
The PSA noted that there were lower inflation in the following:
The inflation rates for the remaining commodity groups remained unchanged.
Meanwhile, food inflation rose to 4% in January 2025 from 3.5% in December 2024.
“The acceleration of food inflation in January 2025 was primarily brought about by the faster inflation rate of vegetables, tubers, plantains, cooking bananas and pulses at 21.1% during the month from 14.2% in December 2024,” the PSA said.
There were also faster annual increases in the prices of fish and other seafood, which went to 3.3% in January 2025 from 1% in December 2024.
Meat and other slaughtered land animals were also recorded at 6.4% in January 2025 from 4.9% in December 2024.
There was also a faster annual growth rate of 2.2% for oils and fats (up from 0.9%).
Meanwhile, corn, flour, bread and other bakery products, including pasta products and other cereals, as well as fruits and nuts, recorded slower inflation rates.
The PSA said that core inflation, which excludes more volatile commodity prices such as food, slowed to 2.6% in January 2025 from 2.8% in December 2024.