Inflation in the Philippines accelerated to 7.2 percent in April, driven by rising food and fuel costs, the Philippine Statistics Authority (PSA) said Tuesday.
The latest figure was significantly higher than the 4.1 percent recorded in March and exceeded the government’s 2 to 4 percent target range, as well as the forecast of the Bangko Sentral ng Pilipinas.
PSA National Statistician Claire Dennis Mapa said the spike was mainly driven by higher prices of rice and fuel.
Food inflation rose to 6.1 percent in April from 2.7 percent in March, with rice prices surging by 13.7 percent during the month.
Transport costs also jumped to 21.4 percent from 9.9 percent, while housing, water, electricity, gas, and other fuels rose to 8.2 percent.
Mapa said fuel prices recorded sharp increases, with diesel up by 124 percent, gasoline by 60.5 percent, and LPG by 44.7 percent.
The impact was more severe among low-income households, with inflation for the bottom 30 percent reaching 8.5 percent.
Core inflation, which excludes volatile food and energy prices, also increased to 3.9 percent from 3.2 percent in March.
Mapa warned that food supply remains a key risk, noting that higher fuel costs are affecting fishing operations and reducing supply.
“So pag konti ang lumalabas… bumababa ang ating production,” he said.
[Translation: When fewer fishers go out, production declines.]
The Department of Economy Planning and Development (DEPDev) said the government is intensifying interventions to manage rising prices.
“Our priority is to ensure stable fuel supply, manageable prices, and adequate protection for all sectors,” Economic Planning Secretary Arsenio Balisacan said.
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