Metro Manila, Philippines – Inflation cools for the first time in 5 months to 2.1% in February amid a series of pump price rollbacks and lower rice prices.
The February inflation reading was slower than January’s 2.9% and falls within the BSP’s forecast range of 2.2%-3%.
Inflation had been creeping up since October 2024, and against a backdrop of global uncertainties including US tariffs, the Philippine central bank took a pause from cutting borrowing costs at its first policy review last February.
The Philippine Statistics Authority said the Marcos government’s declaration of a food security emergency covering rice tempered food prices last month.
This story will be updated.
