The Bangko Sentral ng Pilipinas (BSP) expects a faster inflation rate in September 2025 following the 1.5 percent registered in August.
The BSP said in a statement the September inflation is projected to settle within the range of 1.5 percent to 2.3 percent.
Data from the Philippine Statistics Authority (PSA) showed that the headline inflation rate picked up to 1.5 percent in August 2025 from 0.9 percent in July.
This brought the national average inflation in the first eight months to 1.7 percent, below the government’s 2025 target range of 2 percent to 4 percent.
The BSP said upward price pressures in September are likely to arise from higher prices of rice and fish.
“Elevated domestic fuel costs likewise contribute to upside price pressures for the month. These pressures could be partially offset by the decline in vegetables and meat prices along with lower electricity rates,” it said.
The BSP said that it would continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation.
