Inflation Rate Philippines 2024 News Article. Philippine annual inflation increased for a third straight month in april due to accelerated food and transport price growth, backing the central bank's recent decisions to keep monetary policy. The component for rice, a staple in the philippines, hit 24.4% in march, its steepest increase since 24.6% in february 2009.
The philippines’ headline inflation or overall inflation increased to 3.8 percent in april 2024 from 3.7 percent in march 2024. Inflation rates are expected to temper between 3.2 and 3.6 percent in 2024 after ending 2023 at 6.0 percent, above the 2.0 to 4.0 percent target range set by the government.