The annual inflation rate in the Philippines eased to 1.4% in April 2025 from a near five-year low of 1.8% in the previous month. The figure marked the lowest reading since November 2019, as prices moderated for food and non-alcoholic beverages (0.9% vs 2.2% in March), clothing and footwear (1.6% vs 1.8%), information and communication (0.3% vs 0.4%), recreation, sport and culture (2.1% vs 2.2%), and personal care and miscellaneous goods and services (2.5% vs 2.6%). In addition, deflation worsened for transport (-2.1% vs -1.1%).

Meanwhile, prices accelerated for housing and utilities (2.9% vs 1.7%), alcoholic beverages and tobacco (3.7% vs 3.6%), and health (2.4% vs 2.2%). On a monthly basis, consumer prices fell 0.4% in April, following a 0.2% drop in each of the past two months. Meanwhile, core inflation, which excludes certain food and energy items, remained unchanged at 2.2% in April 2025.