Inflation in the Philippines slowed to its lowest rate in four months in July, driven by lower transport costs and steadier food prices.
Official data show headline inflation fell to 6.2% in July from 6.4% in June, though it remains far above the 0.9% recorded a year earlier.
The 6.2% rate is the slowest since March’s 4.1% and marks the third consecutive month of easing inflation.
The figure falls within the central bank’s projected range of 5.6%‑6.6% for the month, but under the median forecast of 6.4% from a recent poll of economists.
Year‑to‑date inflation averages 5%, still above the central bank’s 3% target.
Core inflation, which strips out volatile food and fuel items, declined to 4.2% from 4.4% in June, though it remains higher than the 2.3% recorded in July 2025.
In the National Capital Region, inflation eased to 4.4% in July from 4.9% in June, but remains above the 1.7% level a year earlier.
Outside the capital region, the rate slipped to 6.7% from 6.8% the month before, yet it is considerably higher than the 0.7% recorded a year ago.
Inflation affecting the lowest‑income 30% of households accelerated to 8.2% in July from 8.0% in June, compared with a decline of 0.8% a year earlier, raising the overall average for this group to 5.9%.
