The February inflation rate in the Philippines slowed to 2.1% due to declining food and utility prices, according to the Philippine Statistics Authority (PSA).
Deputy National Statistician and PSA Assistant Secretary Divina Gracia del Prado reported that last month’s inflation was recorded at 2.1%.
Inflation measures the rate at which consumer goods and services prices increase over time.
The latest figure is lower than the 2.9% inflation rate recorded in January.
It is also the lowest inflation rate since September 2024.
According to Del Prado, the primary factor behind the lower inflation in February 2025 compared to January 2025 was the slower increase in the prices of Food and Non-Alcoholic Beverages, which stood at 2.6%.
The Food and Non-Alcoholic Beverages index accounted for 58.8% of the overall decline in inflation.
This was largely due to the significant drop in the prices of vegetables, tubers, and similar items, which fell to 7.1% from 21.1%.
The second biggest contributor to the lower inflation rate was the housing, water, electricity, and other fuels index, which declined to 1.6% from 2.2%, contributing 16.7% to the overall decrease.
Transportation was the third key factor, as fuel prices continued to drop.