PH posts 7.2% inflation rate in April, highest since March 2023

MANILA, Philippines — Higher fuel prices, along with increased transport costs, pushed the country’s inflation rate to 7.2 percent last month, the Philippine Statistics Authority (PSA) reported on Tuesday. It was markedly higher than the 4.1 percent and 1.4 percent a month and year earlier. This is also higher than the 5.6 percent median forecast of The Manila Times' poll of economists, and the Bangko Sentral ng Pilipinas' estimate of 5.6 to 6.4 percent. This is the highest inflation rate recorded since March 2023 at 7.6 percent. Core inflation, which excludes select food and energy items, rose to 3.9 percent in April 2026, from 3.2 percent in the previous month. It was also higher than the 2.2 percent core inflation in March 2025. To date, headline and core inflation is still within the target at 3.9 percent and 3.2 percent, respectively.

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