Inflation rate in the Philippines likely settled within a range of 1.4 percent to 2.2 percent in January, the Bangko Sentral ng Pilipinas (BSP) said Friday, citing upward pressure from food and energy costs.
The forecast partly represents the low-end of the target range of 2 percent to 4 percent for 2026.
The BSP said in its month-ahead forecast that price increases for rice and fish, alongside higher domestic fuel costs, were primary drivers for the period.
It also pointed to annual excise tax adjustments for alcohol and tobacco, increased water and toll rates, and a weaker peso as contributing factors to the monthly figure.
These inflationary pressures were likely tempered by lower electricity charges in areas serviced by the Manila Electric Co and more stable vegetable prices, the BSP said.
The January projection follows a headline inflation rate of 1.8 percent in December 2025. This brought the full-year average for 2025 to 1.7 percent, below the government’s target range of 2 percent to 4 percent.
The Philippine Statistics Authority is scheduled to release official January consumer price index data on Feb. 5, 2026.
