The Philippines’ inflation rate rose to 2.0% in January 2026.
This marked a slight acceleration from 1.8% in December 2025, but remained lower than the 2.9% recorded in January 2025.
According to the Philippine Statistics Authority (PSA), the uptick was mainly driven by faster annual increases in housing, water, electricity, gas, and other fuels.
The restaurants and accommodation services index also contributed to the higher inflation rate.
In addition, faster annual increases were recorded in the indices of clothing and footwear; furnishings, household equipment and routine household maintenance; health; information and communication; recreation, sport and culture; and personal care and miscellaneous goods and services during the month.
Meanwhile, lower inflation rates were observed in food and non-alcoholic beverages; alcoholic beverages and tobacco; and education services in January 2026 compared to the same month last year.
