A vendor tends to his store selling rice and other goods in San Juan City on February 26, 2025.  

MANILA (UPDATE) — Inflation eased to 2.1 percent in February because of slower price increases in food and non-alcoholic beverages, among others, the Philippine Statistics Authority said Wednesday.

In a press briefing, the PSA said food inflation slowed to 2.6 percent in February from 3.8 percent in January. The state statistics bureau noted that rice inflation further slowed to -4.9 percent from -2.3 percent in January. 

Assistant Secretary Divina Gracia Del Prado said the average price of regular-milled rice nationwide even fell from P48.25 in January to P42.23 last month. 

Inflation of housing, water, electricity, gas, and other fuels also decelerated to 1.6 percent, and so did transport inflation—from 1.1 percent to -0.2 percent. 

But the PSA noted that pork prices jumped by 12.1 percent in February, while the price of chicken meat leapt by 10.8 percent.  The cost of passenger transport by sea also soared to 56.2 percent in February. 

Del Prado said the African swine fever problem continue to hurt pork prices in the Philippines. She said, however, that the Department of Agriculture’s plan to impose a maximum suggested retail price on pork may help ease price hikes.

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“Given other things constant, it can slow down yung inflation ng pork pag na-impose ito… it might lead to deceleration or even a negative inflation,” she said. 

She attributed the climbing chicken prices, meanwhile, to bird flu.

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Del Prado also said the typhoons that hit the country late last year seem to still have an effect on prices, as vegetable inflation remains high at 7.1 percent. 

She noted, however, that rice inflation may remain negative for the rest of the year, barring any supply side shocks. 

Core inflation, which strips away food and energy items that are prone to big swings, was at 2.4 percent. 

Inflation was at 2.9 percent in January. The February clip is lower than the 2.2 to 3 percent expectation of the Bangko Sentral ng Pilipinas. 

The National Economic and Development Authority said government will continue to work to keep prices low and manageable for Filipinos. 

Socioeconomic Planning Secretary Arsenio Balisacan said the Department of Agriculture will implement water management plans and provide financial assistance and credit support to farmers, as the Philippines expects six to 13 typhoons to develop from March to August.

Meanwhile, Palace Press Officer Undersecretary Claire Castro said rice prices may further go down by the end of the month.

Citing Agriculture Secretary Francisco Tiu Laurel, Castro said the price of the DT8, a fragrant rice variety from Vietnam, is expected to go down from P49 per kilo to P45 per kilo. 

World prices of rice are also falling, she noted.

“Kung noon po ay may halaga po na pumapalo sa $700 to $740 dollars per ton, ngayon po ay bumaba, kung hindi po tayo nagkakamali ay parang bumaba po sa $400 or lesser, or $380 dollars per ton,” she said. 

Castro also noted that pork prices are expected to fall. 

“Pati na po ang presyo po ng baboy ay maaari po itong maibaba din po by March 10 sa halaga po. Ito po ay sinabi in particular ni [Agriculture] Secretary Laurel – ang parte po ng kasim at pige ay bababa po between P350 to P360 per kilo at ang liempo naman po ay maibababa po ng P380 per kilo,” she said.