Manila: Headline inflation in the Philippines has reached its lowest level in over five years, dropping to 1.4 percent in April, according to the Philippine Statistics Authority (PSA). This marks the lowest inflation rate recorded since November 2019, when it was at 1.2 percent.
According to Philippines News Agency, National Statistician Dennis Mapa announced in a briefing that the year-to-date average inflation rate now stands at 2 percent. This figure is at the lower end of the government's target range of 2 to 4 percent. Mapa noted that the decline in overall inflation for April was primarily driven by a slower rise in the prices of food and non-alcoholic beverages, which increased by only 0.9 percent compared to 2.2 percent in the previous month.
Food inflation, in particular, saw a significant decrease, easing to 0.7 percent from 2.3 percent in March. A year ago, in April, food inflation was much higher at 6.3 percent. Mapa attributed this improvement to a faster year-on-year decline in the rice index at 10.9 percent and slower inflation rates for vegetables, tubers, plantains, cooking bananas, and pulses, which were recorded at 2.3 percent.
Continuing, Mapa highlighted that the average price of regular milled rice fell to PHP44.45 per kilogram in April from PHP51.25 a year ago. Similarly, well-milled rice prices dropped to PHP44.45 per kilogram from PHP51.25, and special rice prices decreased to PHP60.69 per kilogram from last year's PHP64.68. Mapa emphasized the importance of monitoring rice prices, as significant impacts could occur if prices reach 20 pesos.
The Department of Agriculture has initiated the 'Benteng Bigas Mayroon (BBM) Na' program in Cebu under the Kadiwa ng Pangulo (KNP) initiative, with a Metro Manila launch scheduled for May 13. This will involve at least 16 sites, including locations in Quezon City, Caloocan, Mandaluyong, Pasay, and Pasig.
Additionally, Mapa reported annual declines in other indices, such as corn at 4.9 percent and sugar, confectionery, and desserts at 0.7 percent. These figures are down from their year-on-year decreases of 1.6 percent and 0.6 percent, respectively, in March. Lower inflation rates were also observed in other food categories like meat, fruits and nuts, and ready-made food products.
Mapa also mentioned that the faster year-on-year decrease in the transport index, which dropped 2.1 percent from a 1.1 percent annual decline in March 2025, contributed to the lower inflation observed in April.
