The Philippine Statistics Authority (PSA) reported that the country's inflation rate accelerated to 7.2% in April 2026, driven by rising food and oil prices. This marks the fastest inflation in three years, since March 2023 when it stood at 7.6%.
Key Drivers of Inflation
PSA Undersecretary Claire Dennis Mapa stated that the main contributors to the surge were increases in food and oil prices. Among food items, rice recorded the highest increase, followed by fish and meat. In the transport sector, diesel prices rose by 124%, while gasoline surged by 60.5%.
Comparison with Forecasts
The April inflation rate exceeded the Bangko Sentral ng Pilipinas' forecast range of 5.6% to 6.4% and was significantly higher than the government's target of 2% to 4%.
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- Food and oil prices were the primary drivers.
- Rice, fish, and meat saw the largest price increases.
- Transport costs soared due to fuel price hikes.
