East Asia & Pacific
Philippines Inflation
Annual percentage change in consumer prices (CPI).
Latest Value
3.2%
As of 2024
YoY Change
-46.3%
2023 → 2024
Record High
50.3%
Recorded in 1984
Record Low
0.7%
Recorded in 2015
10-Year Average
3.4%
2015–2024
Data Range
1960–2024
65 data points
Source
World Bank
Code: FP.CPI.TOTL.ZG
Historical Trend
Analysis
The Philippines's inflation rate of 3.21% in 2024 indicates a relatively stable economy. This rate is within the target range set by the Bangko Sentral ng Pilipinas, suggesting that the country's monetary policy is effective in managing price growth. The current inflation rate is also lower compared to previous years, which may be attributed to the government's efforts to stabilize food and fuel prices.
Historical Data
| Value | YoY Change | Change % | |
|---|---|---|---|
| 2024 | 3.2% | 2.8% | -46.3% |
| 2023 | 6.0% | 0.2% | +2.7% |
| 2022 | 5.8% | 1.9% | +48.2% |
| 2021 | 3.9% | 1.5% | +64.1% |
| 2020 | 2.4% | 0.0% | +0.0% |
| 2019 | 2.4% | 2.9% | -54.9% |
| 2018 | 5.3% | 2.5% | +86.1% |
| 2017 | 2.9% | 1.6% | +127.6% |
| 2016 | 1.3% | 0.6% | +86.0% |
| 2015 | 0.7% | 2.9% | -81.3% |
Source: World Bank Open Data · 1960–2024
Neighbouring Countries Ranking
East Asia & Pacific · Inflation
Similar Rankings
Global · Inflation
