Philippine News Agency
Lower rice prices ease inflation to nearly 5-yr low at 1.8% in March
Inflation in the Philippines significantly slowed to 1.8% in March 2025, the lowest in nearly five years, driven largely by a decrease in rice prices.
Rice prices experienced a deflation of 7.7% in March, a continuation of a downward trend for the third consecutive month.
This deflation is attributed to base effects from price increases in 2023 and the impact of reduced rice import tariffs.
President Ferdinand Marcos Jr. reduced rice import tariffs to 15% through Executive Order No. 62 in June 2024.
The easing of inflation in food and non-alcoholic beverages, which includes cereals and rice, contributed significantly to the overall slowdown.
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Analysts anticipate that inflation in the Philippines further slowed in March due to decreasing food prices and reduced transportation expenses.
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Inflation in the Philippines eased to a six-month low of 1.8% in March 2025, the lowest rate since May 2020.
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House Speaker Martin Romualdez hailed the March inflation rate dropping to 1.8 percent, its lowest in nearly five years, as a positive development for Filipinos.
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The Bangko Sentral ng Pilipinas (BSP) forecasts March inflation to be between 1.7% and 2.5%.
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As of March 1, the country's rice inventory stood at 1.61 million metric tons (MT), marking a year-on-year increase of 18 percent but a month-on-month decrease of nearly 20 percent.
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