The annual core inflation in the Philippines jumped to 4.7% in September 2026, the highest level since November 2023, above the expected 4.4% and picking up from 4.1% in August. Core Inflation Rate in Philippines averaged 3.80 percent from 2001 until 2026, reaching an all time high of 8.00 percent in March of 2023 and a record low of 1.40 percent in September of 2015. source: Philippine Statistics Authority

Core Inflation Rate in Philippines is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Core Inflation Rate is projected to trend around 2.00 percent in 2027 and 2.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-04 01:00 AM
Core Inflation Rate YoY
Aug 4.1% 4.2% 4.1% 4.0%
2026-10-06 01:00 AM
Core Inflation Rate YoY
Sep 4.7% 4.1% 4.4% 4.3%
2026-11-05 01:10 AM
Core Inflation Rate YoY
Oct 4.7% 4.4%


Related Last Previous Unit Reference
Consumer Price Index CPI 137.70 136.40 points Sep 2026
Core Consumer Prices 135.30 134.50 points Sep 2026
Core Inflation Rate YoY 4.70 4.10 percent Sep 2026
CPI Clothing 125.10 124.80 points Sep 2026
CPI Education 125.80 125.60 points Sep 2026
CPI Food 139.90 137.60 points Sep 2026
CPI Health 134.10 133.20 points Sep 2026
CPI Housing Utilities 134.20 133.20 points Sep 2026
CPI Recreation and Culture 125.40 125.00 points Sep 2026
CPI Restaurants and Hotels 141.00 140.70 points Sep 2026
CPI Transportation 148.00 146.70 points Sep 2026
Export Prices 101.62 101.61 points Jun 2026
Food Inflation 6.70 4.60 percent Sep 2026
GDP Deflator 125.18 123.18 points Jun 2026
Import Prices 100.18 100.59 points Jun 2026
Inflation Rate YoY 7.20 6.10 percent Sep 2026
Inflation Rate MoM 1.00 0.60 percent Sep 2026
Producer Prices 101.45 101.13 points Aug 2026
PPI YoY 3.10 3.00 percent Aug 2026
Retail Price Index YoY 3.90 4.00 percent Aug 2026


Philippines Core Inflation Rate
In Philippines, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items.
Actual Previous Highest Lowest Dates Unit Frequency
4.70 4.10 8.00 1.40 2001 - 2026 percent Monthly
NSA