QUICK LOOK: January inflation steady at 2.9% as gov’t focuses on price stability
February 5, 2025
2:34PM PHT
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The Philippines’ inflation rate remained steady at 2.9 percent in January 2025, aligning with the government’s targets under the Philippine Development Plan 2023-2028, according to the National Economic and Development Authority.
Key highlights:
Inflation rate steady at 2.9 percent in January 2025 .
Food inflation increased to 4.0 percent, driven by typhoon-related disruptions .
Rice prices fell by 2.3 prompting, coming as government intervened to ensure affordability.
Agriculture, power, and food security measures are in place to ensure stability.
NEDA reaffirms commitment to price control amid economic uncertainties.
Food inflation was the main driver, rising to 4.0 percent, while other sectors saw price reductions. Rice prices deflated by 2.3 percent, ahead of the government's recent declaration of a food security emergency to ensure affordability.
According to NEDA, the government continues to monitor potential risks, including typhoon-related food supply disruptions .
Efforts such as agriculture investment, African swine fever vaccinations, and power transmission upgrades aim to sustain price stability and economic resilience, the agency said.