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. Province of Cebu

1. Headline Inflation

The headline inflation for the Province of Cebu recorded a faster annual growth rate at 3.8 percent in March 2025 from 3.5 percent in the previous month. This brings the province’s average inflation rate from January to March 2025 to 3.5 percent. In March 2024, the inflation rate was posted at 0.3 percent. (Table A and Figure 1)

1.1    Main Drivers to the Upward Trend of the March 2025 Headline Inflation

The uptrend in the headline inflation were primarily influenced by the faster annual growth rates in the indices of food and non-alcoholic beverages at 4.7 percent, and housing, water, electricity, gas and other fuels at 2.7 percent during the month from their respective inflation rates at 4.2 percent and 1.8 percent in February 2025. (Table 3)

Moreover, indices that also recorded faster annual increases in March 2025 were furnishings, household equipment and routine household routine maintenance at 4.9 percent, health at 2.2 percent, and personal care, and miscellaneous goods and services at 2.3 percent from their previous month’s respective inflation rates at 4.2 percent, 1.5 percent, and 2.2 percent.
 
On the contrary, slower annual increases were observed in alcoholic beverages and tobacco at 1.2 percent, transport at 10.1 percent, and recreation, sport and culture at 0.4 percent during the month from their respective inflation rates at 1.9 percent, 10.9 percent, and 0.6 percent in the previous month. Clothing and footwear posted a faster annual decrease at 0.1 percent in March 2025 from annual increase of 0.1 percent in February 2025.

Education services retained its previous month’s inflation rate at 7.2 percent.

Information and communication, restaurants and accommodation services, and financial services recorded no price movement during the month. 
           
1.2 Main Contributors to the Headline Inflation

The top three commodity groups that contributed to the March 2025 headline inflation in the province were the following:

a. Food and non-alcoholic beverages with 53.5 percent share or 2.0 percentage points;    
b. Transport with 22.3 percent share or 0.9 percentage point; and     
c. Housing, water, electricity, gas and other fuels with 13.3 percent share or 0.5 percentage point.

2. Food Inflation

Food inflation in the Province of Cebu posted a faster annual growth rate at 5.1 percent in March 2025 from 4.4 percent in February 2025. In March 2024, the food inflation rate stood at 0.8 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 in the province were mainly brought by the faster annual increments in the indices of fish and other seafood at  9.0 percent, vegetables, tubers, plantains, cooking bananas and pulses at 16.2 percent, and meat and other parts of slaughtered land animals at 7.0 percent  from their previous month’s respective inflation rates at 6.2 percent, 10.1 percent, and 5.9 percent. In addition, faster annual increases were noted in the indices of milk, other dairy products and eggs at 0.1 percent, and fruits and nuts at 8.8 percent from their respective inflation rates at 0.7 percent annual decrease, and 8.1 percent annual increase in the previous month.  (Table 5)

Slower annual decrement was observed in sugar, confectionery and desserts at 2.4 percent during the month from 6.1 percent annual decline in the previous month.

On the contrary, compared with their previous month’s inflation rates, slower annual increases were recorded during the month in the indices of corn at 13.7 percent from 15.4 percent; flour, bread and other bakery products, pasta products and other cereals at 0.3 percent from 0.5 percent, oils and fats without price movement from 0.1 percent, and ready-made food and other food products not elsewhere classified at 2.2 percent from 2.9 percent.

Rice posted a faster annual decrease at 5.4 percent during the month from 3.4 percent annual decline in the previous month. (Table 5)
  
2.2 Main Contributors to the Food Inflation

Food inflation shared 52.6 percent or 2.0 percentage points to the overall inflation in March 2025. The food groups with the highest contribution to food inflation during the month were the following:

a. Fish and other seafood, with a share of 33.7 percent or 1.7 percentage points;
b. Meat and other parts of slaughtered land animals, with a share of 24.4 percent or 1.3 percentage points; and
c. Vegetables, tubers, plantains, cooking bananas and pulses, with a share of 21.8 percent or 1.1 percentage point.

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

Approved by:

MELCHOR B. BAUTISTA
Chief Statistical Specialist

RYN/KST