FX.co ★ Philippine Inflation Rises to 13-Month High

The annual inflation rate in the Philippines increased to 2.4% in February 2026 from 2.0% in January, aligning with market expectations. This was the highest rate since January 2025, primarily reflecting faster price gains in several key categories: food and non-alcoholic beverages (1.8% vs 1.1% in January), furnishings, household equipment and routine household maintenance (2.9% vs 2.3%), recreation, sport and culture (4.3% vs 2.2%), and restaurant and accommodation services (4.4% vs 4.0%).

In contrast, transport costs continued to fall (-0.3% vs -0.2%), while inflation eased slightly for information and communication (0.7% vs 0.8%). On a monthly basis, consumer prices rose 0.2% in February, decelerating from a 0.8% increase in the previous month. Meanwhile, core inflation, which excludes selected food and energy items, edged up to 2.9% from 2.8% in January, its highest level since July 2024.