The annual core inflation rate in the Philippines, which excludes certain food and energy items, rose to 2.9% in February 2026, marking the highest since July 2024, from 2.8% in the prior month. Core Inflation Rate in Philippines averaged 3.79 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 2.60 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
2026-02-05 01:00 AM
Core Inflation Rate YoY
Jan 2.8% 2.4% 2.3%
2026-03-05 01:00 AM
Core Inflation Rate YoY
Feb 2.9% 2.8% 2.9%
2026-04-07 01:00 AM
Core Inflation Rate YoY
Mar 2.9% 2.6%


Related Last Previous Unit Reference
Consumer Price Index CPI 131.20 131.00 points Feb 2026
Core Consumer Prices 131.20 130.90 points Feb 2026
Core Inflation Rate YoY 2.90 2.80 percent Feb 2026
CPI Housing Utilities 126.00 125.40 points Feb 2026
CPI Transportation 130.00 130.00 points Feb 2026
Export Prices 114.65 113.37 points Dec 2025
Food Inflation 1.80 1.10 percent Feb 2026
GDP Deflator 124.02 118.62 points Dec 2025
Import Prices 122.85 123.13 points Dec 2025
Inflation Rate YoY 2.40 2.00 percent Feb 2026
Inflation Rate MoM 0.20 0.80 percent Feb 2026
Producer Prices 99.87 99.36 points Jan 2026
PPI YoY 1.50 0.76 percent Jan 2026
Retail Price Index YoY 2.10 1.50 percent Jan 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
2.90 2.80 8.00 1.40 2001 - 2026 percent Monthly
NSA