The Bangko Sentral ng Pilipinas (BSP) expects Philippine inflation to have accelerated in September, as higher fuel and food prices continued to put pressure on consumer prices.
The central bank’s latest assessment comes after headline inflation eased slightly to 6.1% in August from 6.2% in July. August inflation remained within the BSP’s 5.5% to 6.5% forecast range, while average inflation for the first eight months of 2026 stood at 5.2%.
Higher domestic fuel prices are among the factors expected to push September inflation higher. Food prices and weather-related supply disruptions are also being closely monitored as potential sources of additional price pressure.
The BSP has previously identified rice, vegetables, fruits and fish as sources of upward pressure on prices, while lower meat and electricity prices and movements in the peso have provided some offsets.
The latest inflation outlook comes as the central bank continues to weigh price stability against economic growth. BSP officials have indicated that broadening price pressures could influence monetary policy decisions as they assess incoming economic data.
The September inflation figure will be closely watched by households, businesses and financial markets because it could provide a clearer indication of whether recent price pressures are becoming more persistent.
The Philippine Statistics Authority is scheduled to release the official September inflation data in early October. Until then, the BSP’s projection remains an estimate rather than the final inflation reading.
With inflation already elevated compared with the BSP’s medium-term target range, developments in food, fuel, electricity and other major consumer costs will remain important factors in determining the direction of prices in the coming months.
