News Details

November Inflation Slows to 1.5% Amid Lower Food Prices

NPO

•

December 8, 2025

MANILA – The domestic inflation rate eased to 1.5 percent in November 2025, down from 1.7 percent in October, driven largely by slower price increases for key food items, data from the Philippine Statistics Authority (PSA) showed Friday.

The PSA reported that in addition to rice and meat, sectors such as alcoholic beverages and tobacco, furnishings and household equipment, routine household maintenance, and personal care and miscellaneous goods also experienced slower price growth. This brought the 11-month average inflation to 1.6 percent, well below the Bangko Sentral ng Pilipinas’ (BSP) 2–4 percent target range, and lower than last year’s 2.5 percent.

BSP Outlook: Inflation Within Target
The BSP noted that November’s inflation fell within its forecast of 1.1 to 1.9 percent. It projected that average inflation for 2025 will remain below the low end of the target, largely due to earlier declines in rice prices.

“The outlook for inflation is generally benign and expected to remain within the target range through 2026 and 2027, settling around 3 percent plus or minus one percentage point,” the BSP said. The central bank added that price expectations remain well-anchored, despite potential upward pressures from electricity rate adjustments and possible increases in tariffs on rice imports.

The Monetary Board also highlighted that domestic economic growth has weakened, citing impacts on business confidence from governance concerns over public infrastructure spending and external uncertainties. The board pledged to continue monitoring economic conditions and reassess prior monetary actions as needed.

Government Measures Supporting Price Stability
Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan attributed the slower price increases in rice, meat, and other essentials to several government initiatives aimed at boosting supply, stabilizing prices, and ensuring food security.

Before the end of 2025, additional sites for the Benteng Bigas, Meron Na! program will open across all 81 provinces, providing more Filipinos access to affordable rice. Meanwhile, the Department of Agriculture (DA) has strengthened safeguards against African swine fever while allowing safe, regionalized pork imports from ASF-free zones in accredited exporting countries.

An inter-agency measure is also being finalized to automatically enroll eligible Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries under the Lifeline Rate Subsidy, covering their electricity expenses.

“The sustained moderation in inflation reflects our commitment to protect consumers and strengthen economic resilience against global and domestic challenges,” Balisacan said. “We will continue implementing timely and coordinated policies to keep prices stable and ensure that economic progress reaches every Filipino.”

NPO News Team | PNA-PR