Starting February 2022, the Philippine Statistics Authority (PSA) released the rebased Consumer Price Index (CPI) for all income households to base year 2018, from base year 2012 as announced in the press release number 2022-01 dated 04 January 2022. The CPI series for all income households for January 2022 onwards will be 2018-based.

Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)

A. The Philippines

The Philippines’ headline inflation or overall inflation slowed down further to 1.8 percent in March 2025 from 2.1 percent in the previous month. This brings the national average inflation rate from January to March 2025 to 2.2 percent. The inflation rate in March 2024 was higher at 3.7 percent. (Table A)

B. Central Visayas

1. Regional Inflation

In Central Visayas, the headline inflation or overall inflation in March 2025 eased to 2.4 percent from 2.5 percent in February 2025. The average inflation rate in Central Visayas from January to March 2025 was posted at 2.5 percent. In March 2024, the inflation rate was higher which stood at 3.2 percent.  (Table A)

C. City of Cebu

1. Headline Inflation

In March 2025, the headline inflation in the City of Cebu recorded a faster annual increase at 2.3 percent from 2.2 percent in February 2025. This brings the city’s average inflation rate from January to March 2025 to 2.3 percent. The inflation rate in March 2024 was posted at 4.7 percent. (Table A and Figure 1)

1.1 Main Drivers to the Upward Trend of the Headline Inflation

The uptrend of the headline inflation in March 2025 was primarily influenced by the faster year-on-year increase of food and non-alcoholic beverages at 5.7 percent from 4.8 percent in February 2025. In addition, personal care, and miscellaneous goods and services posted a faster annual growth rate at 1.3 percent during the month from 1.2 percent in the previous month. (Table 3)

In contrast, slower annual increments were recorded in the indices of alcoholic beverages and tobacco at 1.1 percent; clothing and footwear at 1.2 percent; housing, water, electricity, gas and other fuels at 0.1 percent; health at 0.7 percent; and recreation, sport and culture at 0.4 percent during the month from their respective inflation rates at 1.4 percent, 1.5 percent, 0.2 percent, 2.4 percent, and 0.5 percent in the previous month.  (Table 3)

The transport index posted a faster annual decrement at 1.6 percent in March 2025 from its previous month’s inflation rate at 1.1 percent annual decline. (Table 3)

The commodity groups that retained their previous month’s inflation rates were furnishings, household equipment and routine household maintenance at 10.6 percent; information and communication at 1.3 percent; and education services at 4.5 percent. Restaurants and accommodation services, and financial services posted no price movement. (Table 3)

1.2 Main Contributors to the Headline Inflation

The top three commodity groups contributing to the March 2025 headline inflation were the following:

a. Food and non-alcoholic beverages with 78.9 percent share or 1.8 percentage points; 
b. Furnishings, household equipment and routine household maintenance with 14.3 percent share or 0.3 percentage point; and
c. Education services with 4.5 percent share or 0.1 percentage point.

2. Food Inflation

Food inflation in the City of Cebu in March 2025 posted a faster annual growth rate at 6.1 percent from 5.1 percent in the previous month. In March 2024, the food inflation rate stood at 6.9 percent. (Table 7)

2.1 Main Drivers to the Uptrend of Food Inflation

The main drivers to the uptrend of food inflation in March 2025 were primarily influenced by the faster annual increments in the indices of fish and other seafood at 16.5 percent; vegetables, tubers, plantains, cooking bananas and pulses at 27.1 percent; and meat and other parts of slaughtered land animals at 7.1 percent from their respective inflation rates at 9.3 percent, 21.0 percent, and 6.6 percent in the previous month.

In addition, faster annual increases were observed in the indices of fruits and nuts at 5.0 percent; sugar, confectionery and desserts at 0.5 percent; milk, other dairy products and eggs at 1.0 percent during the month from their respective inflation rates at 2.9 percent annual increase, 2.7 percent annual decline, and 0.3 percent annual increase in the previous month. Oils and fats recorded no price movement in March 2025 from 2.0 percent annual decline in February 2025.

On the contrary, slower annual increments were noted in the indices of corn at 13.6 percent; and ready-made food and other food products not elsewhere classified at 2.4 percent during the month from their respective inflation rates at 52.9 percent, and 3.8 percent in the previous month. Rice food group recorded a faster annual decrease at 0.4 percent in March 2025 from 0.4 percent annual increase in February 2025.

Flour, bread and other bakery products, pasta products and other cereals remained its previous month’s inflation rate at 0.9 percent.

2.1 Main Contributors to the Food Inflation

Food inflation shared 76.9 percent or 1.8 percentage points to the overall inflation in March 2025. The top three food groups in terms of contribution to the food inflation during the month were the following:

a. Fish and other seafood, with 40.9 percent share or 2.5 percentage points; 
b. Meat and other parts of slaughtered land animals with 27.9 percent share or 1.7 percentage points; and
c. Vegetables, tubers, plantains, cooking bananas and pulses with 20.9 percent share or 1.3 percentage points.

Table B. Year-on-Year Inflation Rates in the City of Cebu, All Items
In Percent
January 2020 – March 2025
(2018=100)

Approved by:

MELCHOR B. BAUTISTA
Chief Statistical Specialist

RYN/KST