Inflation cools to 1.5 percent in November

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

December 6, 2025 | 12:00am

As growth in food prices slows

MANILA, Philippines — Inflation eased in November as food items posted slower price increases, according to the Philippine Statistics Authority (PSA).

In a press conference yesterday, Deputy National Statistician Divina Gracia del Prado said that headline inflation – the rate of increase in consumer prices – eased to 1.5 percent in November from 1.7 percent in the previous month. It was also lower than the 2.5 percent reading in the same month last year.

The November inflation print was likewise within the Bangko Sentral ng Pilipinas’ forecast range of 1.1 to 1.9 percent.

This brought the January to November average to 1.6 percent, still below the government’s two to four percent target band for the year.

Del Prado attributed the downtrend in headline inflation primarily to the slower increase in the heavily weighted food and non-alcoholic beverages commodity group, at 0.1 percent from 0.5 percent in October.

Inflation for food alone registered a 0.3-percent decline in November, a reversal of the 0.2 percent uptick in the previous month, due to the slower increases in vegetable and meat prices.

In particular, inflation for vegetables slowed to four percent in November from the previous month’s 16.4 percent, while meat inflation eased to 4.2 percent from October’s 5.2 percent.

Rice, the country’s staple, registered a slower decline of 15.4 percent in November from the previous month’s 17 percent.

Del Prado said rice is expected to still register negative inflation in December.

“If we maintain the price now, it will still be negative in December,” she said.

Department of Economy, Planning and Development (DEPDev) Secretary Arsenio Balisacan attributed the lower overall inflation to the government’s intensified efforts to ensure price stability by strengthening food supply chains.

“The sustained moderation in inflation reflects our commitment to protect consumers and strengthen our economic resilience against global and domestic headwinds,” he said.

Given the latest inflation result and decline in rice prices in previous months, the BSP expects inflation to average below the low-end of the target range this year.

“The outlook for inflation is generally benign, remaining well within the target range over the policy horizon,” the BSP said.

Moving forward, the DEPDev said the government aims to continue managing price pressures and mitigating inflation impact through various measures including opening more sites to expand the availability of the P20-per-kilo rice, as well as automating the registration of qualified Pantawid Pamilyang Pilipino Program beneficiaries for the Lifeline Rate Subsidy to allow more households to get electricity bill discounts.

“We will continue implementing timely, well-coordinated policies to keep prices stable and ensure progress is felt by every Filipino,” Balisacan said.

Meanwhile, Malacañang said Filipinos could expect a better and stronger Philippine economy next year as the Marcos administration keeps inflation firmly under control and maintains investors’ confidence in the country.

Executive Secretary and former finance secretary Ralph Recto credited the slowdown in inflation last month to the government’s intensified efforts to stabilize prices and secure the nation’s food supply, especially rice, vegetables and meat.

“Better days are coming. Makakaasa po ang bawat Pilipino ng mas malakas at mas matatag na ekonomiya sa mga darating na buwan dahil sa tiwala at mas tapat na pamamahala. We will make a strong economic comeback in 2026,” Recto said in a statement.

Recto said lower prices, combined with a strong labor market, are expected to boost domestic demand, drive consumption and support the Philippines’ above-average growth relative to its regional peers.

“The opportunities for investments also remain robust as the economic team continues to clear bottlenecks to attract more private sector participation,” Recto said.