Inflation slows to 1.5% in November 2025

MANILA, Philippines — The inflation rate in November 2025 eased to 1.5%, down from the previous month’s 1.7%, according to the Philippine Statistics Authority (PSA) on Friday, December 5.

The latest inflation rate is lower compared to the same month in 2024, which was 2.5%.

The PSA said the inflation downtrend was due to the slower rise in heavily-weighted food and non-alcoholic beverages, which was a mere 0.1% in November 2025 compared to 0.5% the previous month.

Lower inflation rates were also recorded during November 2025 in the following: alcoholic beverages and tobacco (3.6% from 4.0%), furnishings, household equipment and routine household maintenance (2.0% from 2.4%), and personal care and miscellaneous goods and services (2.4% from 2.5%).

Meanwhile, faster inflation rates were recorded in the following commodity groups: housing, water, electricity, gas and other fuels (2.9% from 2.7%), transport (1.7% from 0.9%), recreation, sport and culture (2.1% from 1.9%), and restaurants and accommodation services (2.6% from 2.4%).

Housing, water, electricity, gas and other fuels; restaurants and accommodation services with a 16.9% share; and transport were the top contributors to inflation in November 2025.

Meanwhile, food inflation recorded an annual decline of 0.3%. This was due to a slower annual increase in vegetables, tubers, plantains, cooking bananas, and pulses (4.0%). Meat and other parts of slaughtered animals also had slower inflation rates (4.2%).

Slower inflation rates were also recorded for milk, other dairy products, and eggs (1.0%), and ready-made food and other food products not elsewhere classified (2.1%).

Sugar, confectionery, and desserts also had a faster annual decline of 0.3%.

However, the PSA noted that there were faster increases in the following commodity groups: flour, bread and other bakery products, pasta products, and other cereals (1.6%), fish and other seafood (8.6%), and oil and fats (9.7%).

Cereals and cereal products; sugar, confectionery and desserts; and fruits and nuts were the highest contributors to November 2025’s food inflation.

Lastly, core inflation, which excludes food and energy items, slowed down to 2.4% in November 2025 from 2.5% the previous month.

The Department of Economy, Planning, and Development said that the current inflation rate falls below the government’s range of 2.0% to 4.0%.

“The sustained moderation in inflation reflects our commitment to protect consumers and strengthen our economic resilience against global and domestic headwinds. We will continue implementing timely, well-coordinated policies to keep prices stable and ensure progress is felt by every Filipino,” Economic Secretary Arsenio Balisacan said.