Inflation Rate Philippines 2024 Latest. Manila, philippines — private sector economists expect inflation to remain stable over the next three years, with the rate expected to stay within the two to four percent target. Philippines inflation rate for 2023 was 5.98%, a 0.16% increase from 2022.

The latest figure is higher than the 3.7% recorded in june 2024, but lower than the 4.7% rate in july 2023, the philippine statistics authority said in a press conference on tuesday, august 6. The inflation rate year over year is 2.3% (compared to 1.9% for the previous month).