Core consumer price inflation in the Philippines picked up in September 2026, with the year-over-year rate rising to 4.7%, up from 4.1% in August 2026. The data, updated on 06 October 2026, highlight a further strengthening of underlying price pressures in the economy.
Both the current and previous readings compare prices to the same months a year earlier, meaning the 4.7% figure for September reflects how much core prices have increased versus September of the prior year, while the 4.1% August print was measured against August a year earlier. The acceleration suggests that inflationary momentum in core components—excluding the most volatile items—remains firm as the third quarter closes.
The continued rise in core CPI may sharpen the focus of policymakers and investors on the inflation outlook, as persistent underlying price growth can influence expectations around interest rates, wage negotiations, and broader financial conditions in the Philippines.
