Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)

A. Philippines                                

1. Headline Inflation

The Philippines’ headline inflation or overall inflation slowed down further to 1.4 percent in April 2025 from 1.8 percent in the previous month. This is the lowest inflation rate since November 2019, which recorded a 1.2 percent inflation rate. This brings the national average inflation rate from January to April 2025 to 2.0 percent. In April 2024, the inflation rate was higher at 3.8 percent. (Figure 1, and Tables A, B, 5, and 14)

1.1 Main Drivers to the Downward Trend of the Headline Inflation

The downtrend in the overall inflation in April 2025 was primarily brought about by the slower annual increment in the index of food and non-alcoholic beverages at 0.9 percent in April 2025 from 2.2 percent in the previous month. Also contributed to the downtrend was the faster year-on-year decrease in the transport index at 2.1 percent during the month from a 1.1 percent annual drop in March 2025.

Moreover, slower annual increases were noted in the indices of the following commodity groups in April 2025:

a. Clothing and footwear, 1.6 percent from 1.8 percent; 
b. Information and communication, 0.3 percent from 0.4 percent;
c. Recreation, sport and culture, 2.1 percent from 2.2 percent; and 
d. Personal care, and miscellaneous goods and services, 2.5 percent from 2.6 percent.

On the contrary, higher inflation rates were observed in the following commodity groups during the month:

a, Alcoholic beverages and tobacco, 3.7 percent from 3.6 percent;
b. Housing, water, electricity, gas and other fuels, 2.9 percent from 1.7 percent; and
c. Health, 2.4 percent from 2.2 percent.

The indices of the rest of the commodity groups retained their respective previous month’s annual growth rates. (Tables 5 and 6)

1.2 Main Contributors to the Headline Inflation   

The top three commodity groups contributing to the April 2025 overall inflation of 1.4 percent were the following:

a. Housing, water, electricity, gas and other fuels with 39.5 percent share or 0.6 percentage point;  
b. Food and non-alcoholic beverages with 24.6 percent share or 0.3 percentage point; and
c. Restaurants and accommodation services with 15.2 percent share or 0.2 percentage point. 

2. Food Inflation

Food inflation at the national level further eased to 0.7 percent in April 2025 from 2.3 percent in the previous month. In April 2024, food inflation was higher at 6.3 percent. (Table 9)

2.1 Main Drivers to the Downward Trend of Food Inflation

The deceleration of food inflation in April 2025 was primarily brought about by the faster year-on-year decline of rice index at 10.9 percent during the month from a 7.7 percent annual decrease in March 2025. This was followed by the slower inflation rates of vegetables, tubers, plantains, cooking bananas and pulses at 2.3 percent during the month from 6.9 percent in March 2025, and fish and other seafood at 4.3 percent in April 2025 from 5.5 percent in the previous month.

In addition, faster annual decrements were noted during the month in the indices of corn at 4.9 percent, and sugar, confectionery and desserts at 0.7 percent from their respective year-on-year decreases of 1.6 percent and 0.6 percent in March 2025.

Moreover, lower inflation rates during the month were noted in the following food groups:

a. Meat and other parts of slaughtered land animals, 7.7 percent from 8.2 percent;
b. Fruits and nuts, 6.2 percent from 6.7 percent; and
c. Ready-made food and other food products not elsewhere classified, 3.4 percent from 3.8 percent.

On the contrary, faster year-on-year increases were observed during the month in the indices of milk, other dairy products and eggs at 4.0 percent from 3.4 percent in the previous month, and oils and fats at 4.7 percent from 4.0 percent in March 2025.

The index of flour, bread and other bakery products, pasta products, and other cereals retained its previous month’s annual increase of 1.3 percent. (Tables 7 and 13)   

2.2 Main Contributors to the Food Inflation

Food inflation shared 18.2 percent or 0.3 percentage point to the overall inflation in April 2025. The top three food groups in terms of contribution to food inflation during the month were the following:

a. Meat and other parts of slaughtered land animals with a share of 203.3 percent or 1.4 percentage points; 
b. Fish and other seafood with a share of 98.1 percent or 0.7 percentage point; and 
c. Milk, other dairy products and eggs with a share of 45.0 percent or 0.3 percentage point.

3. Core Inflation

Core inflation, which excludes selected food and energy items, remained at 2.2 percent in April 2025. In April 2024, core inflation rate was faster at 3.2 percent. (Tables A, 11, and 17)
 

B. National Capital Region (NCR)

Inflation in NCR accelerated to 2.4 percent in April 2025 from 2.1 percent in the previous month, ending its three consecutive months of deceleration. In April 2024, inflation rate in the area was higher at 2.8 percent. (Tables A, 5, and 15)

The main driver to the increase of inflation rate in the area was the higher annual increment in the index of housing, water, electricity, gas and other fuels at 5.1 percent during the month from 2.2 percent in March 2025. In addition, faster annual growth rates were registered in the indices of health at 1.6 percent in April 2025 from 1.5 percent in the previous month, and restaurants and accommodation services at 1.9 percent during the month from 1.8 percent in March 2025.

In contrast, lower year-on-year increases were noted in the indices of the following commodity groups during the month:

a. Food and non-alcoholic beverages, 2.5 percent from 3.6 percent; 
b. Alcoholic beverages and tobacco, 2.5 percent from 2.6 percent;
c. Furnishings, household equipment and routine household maintenance, 0.3 percent from 0.4 percent; and
d. Personal care, and miscellaneous goods and services, 2.4 percent from 2.5 percent.

Moreover, a faster annual decrease was noted in the transport index at 2.5 percent in April 2025 from a 1.6 percent annual drop in the previous month.

The indices of the rest of the commodity groups moved at their respective annual rates in March 2025. (Tables 5 and 6) 

C. Areas Outside NCR (AONCR)

Following the trend at the national level, inflation in AONCR also decelerated further to 1.2 percent in April 2025 from 1.8 percent in the previous month. In April 2024, inflation in the area was recorded at 4.1 percent. (Tables A, 5, and 16)

The downtrend of inflation in AONCR for the month of April 2025 was mainly contributed by the slower annual increment in the heavily-weighted food and non-alcoholic beverages index at 0.6 percent during the month from 2.0 percent in March 2025. Also contributed to the downtrend in the overall inflation in AONCR was the faster annual decrease observed in the transport index at 2.0 percent during the month from a 0.9 percent annual drop in March 2025.

Moreover, lower inflation rates were observed in the indices of the following commodity groups in April 2025:

a. Clothing and footwear, 1.8 percent from 1.9 percent;  
b. Information and communication, 0.5 percent from 0.6 percent; 
c. Recreation, sport and culture, 2.4 percent from 2.5 percent;
d. Restaurants and accommodation services, 2.3 percent from 2.5 percent; and 
e. Personal care, and miscellaneous goods and services, 2.5 percent from 2.6 percent.

In contrast, higher annual increments were observed in the indices of the following commodity groups in April 2025:

a. Alcoholic beverages and tobacco, 4.0 percent from 3.8 percent;
b. Housing, water, electricity, gas and other fuels, 2.1 percent from 1.4 percent;
c. Furnishings, household equipment and routine household maintenance, 2.6 percent from 2.5 percent; and
d. Health, 2.5 percent from 2.3 percent.

The indices of the rest of the commodity groups retained their respective previous month’s annual rates. (Tables 5 and 6)

Relative to their respective March 2025 inflation rates, all regions in areas outside NCR recorded lower inflation rates in April 2025, with Region IX (Zamboanga Peninsula) registering a zero percent annual rate in April 2025 from a 0.6 percent inflation rate in March 2025. The highest inflation rate was observed in Cordillera Administrative Region and Region II (Cagayan Valley), both with 2.0 percent inflation.  On the other hand, BARMM and Region XII (SOCCSKSARGEN) registered deflation (negative inflation) or annual decline in their overall consumer price indices at 1.3 percent and 1.4 percent, respectively, with Region XII marking its third consecutive month of having a negative inflation. (Table 6)

Note: CPIs and inflation rates by province and selected city are posted at the PSA OpenSTAT portal at https://openstat.psa.gov.ph/PXWeb/pxweb/en/DB/DB__2M__PI__CPI__2018/?tablelist=true.

CLAIRE DENNIS S. MAPA, PhD                               
Undersecretary                                
National Statistician and Civil Registrar General                                
 

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