Philippine inflation rises to 7.8% in October as transport and energy costs climb

Inflation in the Philippines quickened to 7.8% in October from 7.2% in September, the second consecutive monthly increase, as transport, fuel and utility costs kept rising, according to the Philippine Statistics Authority (PSA), as reported by Edge Davao.

National Statistician Claire Dennis Mapa told a press briefing that the October figure brings average inflation for the first 10 months of 2026 to 5.6%, well above the government's 2% to 4% target range.

Mapa said the transport index rose 20.1% year on year and accounted for 62.9% of the overall uptrend. He cited higher jeepney and bus fares and rising gasoline prices as the main drivers. Inflation for housing, water, electricity, gas and other fuels also accelerated, to 9.3% from 8.4%.

Food inflation eased to 6.4% from 6.8%, mainly because fish and vegetable prices rose more slowly, the PSA said. Fish inflation fell to 5% from 7.4%, and vegetables to 5.7% from 10.5%. Other items rose faster, however, including rice at 20.7%, corn at 19.3%, and fruits and nuts at 10.8%.

The Department of Economy, Planning and Development (DEPDev) said rice remained the single biggest contributor to inflation. It said the government is boosting farm production and supply chains and providing targeted aid to sectors hit by higher energy costs.

Among the measures, the Department of Agriculture said it had released P11 billion in support for farmers and fisherfolk as of October 21 and is expanding KADIWA ng Pangulo outlets. A P3-billion fuel subsidy began in October for about 300,000 farmers, fisherfolk and agricultural delivery-truck drivers, with farmers and fisherfolk receiving a one-time P5,000 and truck drivers P2,000 weekly.

On energy, DEPDev said the Department of Energy is adding generation capacity and speeding up energy storage amid El Niño conditions. The Energy Regulatory Commission has also temporarily suspended the Wholesale Electricity Spot Market Reserve Market to curb ancillary service costs.

"We will continue strengthening targeted interventions that support producers, improve supply, and provide relief to vulnerable sectors," DEPDev Secretary Arsenio Balisacan said.