The Philippine Statistics Authority (PSA) reported that the country's inflation rate held steady at 2.9% in January 2025, mirroring the previous month's figure. Food and non-alcoholic beverages, housing, water, electricity, gas, and other fuels, and restaurants and accommodation services were identified as the key contributors to inflation. The Neda Secretary highlighted the government's commitment to stable prices and efforts to mitigate the impact of food inflation, while also noting the potential of government investments in the power sector to reduce electricity costs.
The Philippine Statistics Authority (PSA) announced that the country's inflation rate for January 2025 remained stable at 2.9 percent, mirroring the rate recorded in December 2024. According to the PSA statement, the primary contributors to January 2025's inflation were food and non-alcoholic beverages (3.8 percent), housing, water, electricity, gas, and other fuels (16.5 percent), and restaurants and accommodation services (10.8 percent). These categories accounted for 50.3 percent, 0.
5 percentage point, and 0.3 percentage point of the overall inflation, respectively.The agency observed a faster annual increase in food and non-alcoholic beverages (from 3.4 percent to 3.8 percent), alcoholic beverages and tobacco (from 3.1 percent to 3.5 percent), and transport (from 0.9 percent to 1.1 percent). However, indices for clothing and footwear; housing, water, electricity, gas, and other fuels; furnishings, household equipment, and routine household maintenance; recreation, sport and culture; education services; restaurants and accommodation services; and personal care, and miscellaneous goods and services recorded lower inflation rates.At a national level, food inflation surged to 4.0 percent in January 2025 from 3.5 percent in the previous month. This increase was driven by a faster price rise in vegetables, tubers, plantains, cooking bananas, and pulses (21.1 percent compared to 14.2 percent in December 2024), fish and other seafood (3.3 percent compared to 1.0 percent), and meat and other parts of slaughtered land animals (6.4 percent compared to 4.9 percent). The indices of vegetables, tubers, plantains, cooking bananas, and pulses; meat and other parts of slaughtered land animals; and fish and other seafood were identified as the main contributors to food inflation.National Economic Development Authority (Neda) Secretary Arsenio Balisacan viewed the country's steady inflation as a positive sign reflecting the government's commitment to achieving stable prices, aligning with the Philippine Development Plan (PDP) 2023-2028. While acknowledging that food inflation remains the primary driver of overall inflation, Balisacan emphasized the government's priority to curb the rate at which food prices escalate. He attributed the faster food inflation to recent calamities that have impacted the country. Balisacan highlighted the Department of Agriculture's (DA) interventions to mitigate La Niña's effects, including water management system improvements, provision of agricultural inputs, and promotion of diversified farming systems. He also mentioned the DA's efforts to combat African Swine Fever through vaccinations and expedite the approval of the Avian Influenza vaccine.Meanwhile, Balisacan stated that the Maharlika Investment Corporation (MIC) and the Department of Energy anticipate that government investments in the power industry's transmission segment will help reduce electricity costs through lower transmission charges. Balisacan concluded by emphasizing President Marcos's stance on remaining vigilant and proactive in addressing both positive and negative developments, highlighting the importance of resilient agricultural systems to ensure stable and affordable prices for all Filipinos
INFLATION PHILIPPINES ECONOMIC DEVELOPMENT FOOD PRICES GOVERNMENT POLICY ENERGY POWER SECTOR
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