MANILA (XINHUA) – The Philippines’ annual inflation rate remained at 2.9 per cent in January, the same annual growth rate recorded in December 2024, the Philippine Statistics Authority (PSA) said yesterday. PSA chief Dennis Mapa told a news conference that the food and non-alcoholic beverages, which registered an inflation rate of 3.8 per cent in January, contributed 50.3 per cent to the overall inflation during the month. Other main contributors to the January inflation were housing, water, electricity gas and other fuels, as well as restaurants and accommodation services, said Mapa.
Due to the lingering effects of last year’s consecutive typhoons, food inflation at the national level rose to four per cent in January from 3.5 per cent in December 2024.
The index of rice recorded an annual decline of 2.3 per cent during the month from a 0.8-per-cent annual increase in the previous month, the PSA data showed.
The National Economic and Development Authority Secretary Arsenio Balisacan said the government continues to take “proactive steps to make rice prices more affordable”.
Balisacan reiterated that reducing food inflation remains one of the government’s most pressing priorities.
