Inflation up to 1.7% in September — BSP
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Year-on-year headline inflation in the Philippines rose to 1.7 percent in September, up from 1.5 percent in August, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP). The figure falls within the BSP’s forecast range of 1.5 to 2.3 percent for the month.
For the first nine months of 2025, headline inflation averaged 1.7 percent—below the government’s 2 to 4 percent target range.
In a press release on Tuesday, 7 October 2025, the BSP said that the September inflation uptick was mainly driven by higher non-food inflation, particularly transport costs, as well as a rise in food inflation following recent weather disturbances that affected vegetable prices. Rice prices, however, continued to decline due to adequate supply, lower international prices, and government stabilization measures.
Month-on-month, seasonally adjusted headline inflation eased to 0.1 percent in September from 0.5 percent in August. Core inflation—which excludes volatile food and energy items—also slowed slightly to 2.6 percent, down from 2.7 percent.
The BSP reaffirmed its commitment to maintaining price stability to support long-term economic growth and employment, adding that it “will continue to assess all relevant incoming information to determine the appropriate monetary policy response.”
Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said the government’s ongoing interventions are helping ease pressures on consumer prices, particularly for low-income households.
“Prices for the most vulnerable households dropped for the fourth straight month. Patunay ito na tuloy-tuloy ang ating aksyon upang mapanatiling mababa ang presyo ng mga bilihin, lalo na ng bigas, at tiyaking mararamdaman ito ng ating mga kababayan,” Go said.
He added, “Inflation settled at 1.7 percent in September, bringing year-to-date average to 1.7 percent — well below our 2 to 4 percent target. The economic team remains fully committed to safeguarding price stability and sustaining a low-inflation environment through timely interventions.”
The BSP reiterated its commitment to maintaining price stability that supports long-term sustainable growth and employment. “The BSP will continue to assess all relevant incoming information to determine the appropriate monetary policy response,” it said.
