As the country grapples with the effects of the increasing prices driven by the conflict in the Middle East.
On Tuesday, May 5, the Philippine Statistics Authority (PSA) reported that the Philippines’ headline inflation or overall inflation rate increased to 7.2 percent in April 2026, over 3 percentage points above the 4.1 percent logged in March 2026 and more than five times the 1.4 percent rate logged in April 2025.
This brings the average inflation rate from January to April 2026 to 3.9 percent.
“The uptrend in the overall inflation rate in April 2026 was primarily influenced by the faster annual increment in the heavily-weighted food and non-alcoholic beverages index at 6.0 percent during the month from 2.9 percent in March 2026,” noted the PSA.
It also attributed the acceleration to the faster annual increases observed in transport index, which reached 21.4 percent in April 2026 from 9.9 percent in the previous month.
Also seen to have added to that was the increase in prices of housing, water, electricity, gas and other fuels at 8.2 percent during the month from 4.7 percent in the month prior.
In addition, faster annual increases were also observed in the indices of the following commodity groups during the month.
Alcoholic beverages and tobacco rose to 4.8 percent from 3.7 percent; Clothing and footwear had a slight uptick to 2.8 percent from 2.6 percent; Furnishings, household equipment and routine household maintenance also increased to 3.5 percent from 3.1 percent; and Health which was at 3.8 percent in April from 3.4 percent.
Information and communication was at 0.9 percent from 0.7 percent; Recreation, sport and culture, 4.9 percent from 4.7 percent; Restaurants and accommodation services; 6.0 percent from 5.0 percent; and Personal care, and miscellaneous goods and services, 3.3 percent from 2.9 percent.
The indices of the rest of the commodity groups remained at their previous month’s annual rates, the PSA furthered.
However, the top three commodity groups contributing to the April 2026 overall inflation rate were the following.
Food and non-alcoholic beverages with 31.9 percent share or 2.3 percentage points; Transport with 27.0 percent share or 1.9 percentage points; and Housing, water, electricity, gas and other fuels with 23.2 percent share or 1.7 percentage points.
Core inflation, which excludes selected food and energy items, also increased to 3.9 percent in April 2026 from 3.2 percent in March 2026. In April 2025 core inflation rate was lower at 2.2 percent.
Meanwhile, food inflation at the national level saw a faster annual increase of 6.1 percent in April 2026 from 2.7 percent in the previous month. In contrast, food inflation was at 0.7 percent in April 2025.
“The uptrend in the food inflation in April 2026 was mainly driven by the faster annual increase in the index of rice at 13.7 percent during the month from 3.5 percent in March 2026,” noted the PSA.
In addition, compared with their respective inflation rates in March 2026, faster year-on-year increments were noted in the indices of several food items in April 2026.
These are: Corn, 21.0 percent from 12.3 percent; Flour, bread and other bakery products, pasta products, and other cereals, 3.0 percent from 2.5 percent; Fish and other seafood, 9.4 percent from 6.6 percent; and Fruits and nuts, 6.0 percent from 4.7 percent.
Furthermore, Vegetables, tubers, plantains, cooking bananas and pulses, 10.4 percent from 7.0 percent; and Ready-made food and other food products not elsewhere classified, 2.5 percent from 2.4 percent.
There were also slower annual declines observed in the indices of meat and other parts of slaughtered land animals at 1.9 percent in April 2026 from 3.4 percent in the previous month, and sugar, confectionery and desserts at 0.6 percent during the month from 0.7 percent in March 2026.
On the contrary, meanwhile, lower annual increases were observed in the indices of milk, other dairy products and eggs at 0.7 percent during the month from 0.9 percent in March 2026, and oils and fats at 8.7 percent in April 2026 from 8.9 percent in the previous month.
Food inflation shared 30.2 percent or 2.2 percentage points to the overall inflation in April 2026.
The top three food groups in terms of contribution to the food inflation during the month were cereals and cereal products, which includes rice, corn, flour, bread and other bakery products, pasta products, and other cereals; fish and other seafood; and vegetables, tubers, plantains, cooking bananas and pulses.