The Philippines’ inflation rate rose to 2.4 percent in February 2026, according to the Philippine Statistics Authority (PSA).

This marks an increase from January, with the average inflation for the first two months of the year recorded at 2.2 percent.

PSA reported that the acceleration was mainly driven by faster price increases in Food and Non-Alcoholic Beverages, which posted a 1.8 percent inflation rate and accounted for 65.6 percent of the overall rise.

Within this category, the slower decline in prices of Cereals and Cereal Products, particularly rice, contributed to higher inflation, while prices of vegetables, tubers, cooking bananas, tomatoes, and fish such as ‘dilis’ also increased.

Housing, Water, Electricity, Gas, and Other Fuels saw a 3.5 percent inflation rate, contributing 10.6 percent to the overall rise.

Higher rental costs and water supply fees, along with a slower decline in LPG prices (-2.2 percent), were also identified as factors behind the sector’s increased inflation.

Restaurants and Accommodation Services recorded a 4.4 percent inflation rate, contributing 9.6 percent to the overall increase, with faster price growth in restaurants, cafés, and similar establishments cited as the main driver.

Outside the National Capital Region, inflation accelerated slightly higher, reaching 2.5 percent in February 2026.